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1,394,037,452 | 2014-03-05 16:37:32+00:00 | {} | {"Bitcoin": [0]} | Bitcoin exchange CEO found dead in Singapore | https://finance.yahoo.com/news/bitcoin-exchange-ceo-found-dead-163732354.html | CNBC | http://www.cnbc.com/ | Source: LinkedIn Autumn Radtke, the 28-year-old CEO of an upstart bitcoin exchange, died last week under mysterious circumstances at her home in Singapore. The U.S.-born head of First Meta was found dead by police on Feb. 28, with the cause of death yet to be determined. In a statement on its website, First Meta said the company "was shocked and saddened by the tragic loss of our friend and CEO Autumn Radtke." In an interview with The Wall Street Journal , the company's director and nonexecutive chairman, Douglas Abrams, said the exact cause of Radtke's death was "still under investigation." Prior to taking the reins at First Meta in 2012, the 28-year-old Radtke had once closely worked with technology giant Apple ( AAPL ) to bring cloud-computing software to Johns Hopkins University, Los Alamos Labs and the Aerospace Corp., according to her biography. She then took up business development roles at tech start-ups Xfire and Geodelic Systems, according to information on her LinkedIn profile. First Meta bills itself as a clearing house for the purchase and exchange of virtual currencies, including bitcoin . ( Read more: Back to work at bitcoin's embattled Mt.Gox ) Her death comes as troubles swirl around the nascent cryptocurrency industry, and amid a rash of suicides in the financial industry as a whole. Last week, the world's largest bitcoin exchange Mt.Gox imploded; meanwhile, nearly $500 million in client funds vanished overnight. Elsewhere, untimely demises unrelated to bitcoin have claimed the lives of bankers at JPMorgan, Deutsche Bank and Zurich Insurance Group. Financial-related suicides are common during times of market upheaval, such as the Great Depression or the Crash of 1987. However, the recent deaths have coincided with a surge of major indexes to record highs. -By CNBC's Javier E. David. Follow him on Twitter @TeflonGeek . More From CNBC Pope as a pin-up? Francis gets his own fan mag Like it or not: Russia-US energy interdependence Russia's economy may be headed for a fall |
1,394,038,620 | 2014-03-05 16:57:00+00:00 | {"Bitcoin": [738, 812, 899, 992, 1101, 1400, 1509, 1529]} | {} | The 28-Year-Old CEO Of A Virtual Currency Site Has Died | https://finance.yahoo.com/news/28-old-ceo-virtual-currency-165755457.html | Business Insider | http://www.businessinsider.com/ | Autumn Radtke, 28-year-old CEO of Singapore-based virtual currency exchange First Meta , has died. The official cause of death has yet to be released or determined, though some media outlets are citing unclear sources to suggest that it was a suicide. Here's the (very brief) official statement on her death from the company's blog . The First Meta team is shocked and saddened by the tragic loss of our friend and CEO Autumn Radtke. Our deepest condolences go out to her family, friends and loved ones. Autumn was an inspiration to all of us and she will be sorely missed. First Meta deals in virtual assets like Linden dollars, the currency of the famous computer world Second Life, as well as several other less noteworthy currencies. Bitcoin is represented here as well, but First Meta only supports sale of Bitcoin and has no mechanism for users to buy it. This arguably doesn't make it a true Bitcoin exchange, as many have described the company , even going so far as to call Radtke a Bitcoin "victim." Here's a screenshot from the site that shows a list of currencies supported by First Meta. Bitcoin is certainly part of the business, but appears to be only a small part of it. Screen Shot 2014 03 05 at 11.33.51 AM Screenshot CORRECTION: The URL of this story says Radtke's first name is Amanda, not Autumn. We apologize for this error. More From Business Insider Under House Arrest, This 'Bitcoin Millionaire' Is Now Basically Just Drinking And Watching Netflix TSA Harasses Traveler After 'Seeing Bitcoin' In His Bag Bitcoin Is Close To A Fatal Tipping Point That Might Spell Its End, Says Financial Expert |
1,394,044,260 | 2014-03-05 18:31:00+00:00 | {"Bitcoin": [0, 236, 475, 563, 603, 1186, 1444, 1596, 1627, 1701]} | {"Bitcoin": [22]} | 50 Insane Facts About Bitcoin (Infographic) | https://finance.yahoo.com/news/50-insane-facts-bitcoin-infographic-183100835.html | Entrepreneur | http://www.entrepreneur.com/ | Bitcoin is a fickle thing. As one U.S. Senator recently admitted , it confuses the heck out of us. If you still dont quite fully get it, youre far from alone. Ok, so by now most people -- fine, maybe only a few -- understand that Bitcoin is virtual cash thats generated (mined) by computers, lives on the internet and is used to purchase real and digital stuff online and in person. But where exactly did it come from and why is it suddenly in the news so often? Is Bitcoin really the future of money? If so, what can you buy with it right now? Related: Bitcoin: The Good, the Bad and the Ugly Bitcoin users can purchase thousands of legal items on the straight and narrow with the controversial cryptocurrency, like tickets to a Sacramento Kings Game , fresh beef in Australia or even tuition for the University of Nicosia . And before the takedown of Silk Road , people reportedly swapped bitcoins for countless shady illegal goods, including dime bags of weed, stolen guns, forged documents and possibly even hitman services. Creepy, right? The more we know about the curious currency, the weirder it gets. For an entertaining yet educational eyeful of just how bizarre the Bitcoin story is, from its mysterious beginnings to its rise as a kind of, almost, on the brink of mainstream currency around the globe today, take a look at the revealing infographic below from WhoIsHostingThis.com . Click to Enlarge+ 50 Insane Facts About Bitcoin (Infographic) Image credit: Who Is Hosting This More From Entrepreneur The Winklevoss Twins Score Virgin Galactic Tickets to Space, Paying With Bitcoin Japan Considers Taxing Bitcoin, Canadian Exchange Folds Following Hack American CEO of Singapore Bitcoin Exchange Found Dead |
1,394,044,999 | 2014-03-05 18:43:19+00:00 | {"Bitcoin": [1607]} | {} | Winklevoss twins use bitcoins to book space trip | https://finance.yahoo.com/news/winklevoss-twins-bitcoins-book-space-184319465.html | Reuters | http://www.reuters.com/ | By Noel Randewich SAN FRANCISCO (Reuters) - You can't spend bitcoins at Amazon.com or to pay your mortgage but, as the Winklevoss twins showed on Wednesday, you can use the digital currency to book a trip into suborbital space. Cameron and Tyler Winklevoss, who famously accused Facebook Inc founder Mark Zuckerberg of stealing their idea, said they used bitcoins to buy tickets for a high-altitude voyage on billionaire Richard Branson's Virgin Galactic commercial spaceflight venture. The brothers, Olympic rowers who earned MBA degrees from Oxford University, have become bitcoin evangelists and investors and are planning to launch a fund to make it easy to trade the digital currency on the stock market. In a blog post, Tyler Winklevoss compared Branson's space endeavor and bitcoin entrepreneurs to major historical figures who changed the way the world was perceived, like Marco Polo, Christopher Columbus, Vasco da Gama and Nicolaus Copernicus. "It is in this vein that Cameron and I contemplate our tickets into space - as seed capital supporting a new technology that may forever change the way we travel, purchased with a new technology that may forever change the way we transact," he wrote. Virgin Galactic, a U.S. offshoot of Branson's London-based Virgin Group, is selling rides on its SpaceShipTwo for $250,000. The twins are not the first to sign up for Virgin Galactic using bitcoins, but it is the highest-profile flight booking to date using the currency. Last November, Branson announced that a flight attendant from Hawaii had become the first person to pay for a seat with bitcoins. Bitcoin, a digital currency that is traded on a peer-to-peer network independent of central control, has seen its value soar in the past year as it gains attention from growing numbers of investors, entrepreneurs and regulators. But the virtual currency's struggle for legitimacy has been shaken by recent debacles, including the collapse last week of Tokyo-based Mt. Gox, once the world's dominant bitcoin exchange. Story continues Few major retailers have begun accepting payment in bitcoins, and critics say the currency's high volatility makes it unsuitable for everyday transactions. The six-passenger, two-pilot SpaceShipTwo is hauled into the air by a twin-hull carrier jet and then released. The upcoming flights are designed to reach altitudes of more than 65 miles above Earth, high enough to see the curvature of the planet set against the blackness of space. (Reporting by Noel Randewich; Editing by Jonathan Oatis) |
1,394,049,637 | 2014-03-05 20:00:37.700000+00:00 | {"Bitcoin": [1577]} | {"Bitcoin": [21]} | Winklevoss Twins Use Bitcoins to Book Space Trip | https://finance.yahoo.com/news/winklevoss-twins-use-bitcoins-to-book-space-trip-78671567099.html | Yahoo Tech | https://www.yahoo.com/tech/ | By Noel Randewich, Reuters You cant spend bitcoins at Amazon.com or pay your mortgage with them, but the Winklevoss twins showed on Wednesday that you can use the digital currency to book a trip into suborbital space. Cameron and Tyler Winklevoss, who famously accused Facebook founder Mark Zuckerberg of stealing their idea, said they used bitcoins to buy tickets for a high-altitude voyage on billionaire Richard Bransons Virgin Galactic commercial spaceflight venture. The brothers, Olympic rowers who earned MBA degrees from Oxford University, have become bitcoin evangelists and investors and are planning to launch a fund to make it easy to trade the digital currency on the stock market. In a blog post, Tyler Winklevoss compared Branson and bitcoin entrepreneurs to major historical figures who changed the way the world was perceived, like Marco Polo, Christopher Columbus, Vasco da Gama and Nicolaus Copernicus. It is in this vein that Cameron and I contemplate our tickets into space as seed capital supporting a new technology that may forever change the way we travel, purchased with a new technology that may forever change the way we transact, he wrote. Virgin Galactic, a U.S. offshoot of Bransons London-based Virgin Group, is selling rides on its SpaceShipTwo for $250,000. The twins are not the first to sign up for Virgin Galactic using bitcoins, but it is the highest-profile flight booking to date using the currency. Last November, Branson announced that a flight attendant from Hawaii had become the first person to pay for a seat with bitcoins. Bitcoin, a digital currency that is traded on a peer-to-peer network independent of central control, has seen its value soar in the past year as it gains attention from growing numbers of investors, entrepreneurs and regulators. But the virtual currencys struggle for legitimacy has been shaken by recent debacles, including the collapse last week of Tokyo-based Mt. Gox, once the worlds dominant bitcoin exchange. Story continues Few major retailers have begun accepting payment in bitcoins, and critics say the currencys high volatility makes it unsuitable for everyday transactions. The six-passenger, two-pilot SpaceShipTwo is hauled into the air by a twin-hull carrier jet and then released. The upcoming flights are designed to reach altitudes of more than 65 miles above Earth, high enough to see the curvature of the planet set against the blackness of space. (Reporting by Noel Randewich; editing by Jonathan Oatis.) |
1,394,058,300 | 2014-03-05 22:25:00+00:00 | {"Bitcoin": [132, 511, 836, 1395, 1664, 2911, 3029, 3326, 3368, 3612, 3682], "BTC": [2875]} | {"Bitcoin": [73]} | The Winklevoss Twins Score Virgin Galactic Tickets to Space, Paying With Bitcoin | https://finance.yahoo.com/news/winklevoss-twins-score-virgin-galactic-222545582.html | Entrepreneur | http://www.entrepreneur.com/ | The Winklevoss twins are going to space and its no surprise that they paid for their $250,000 Virgin Galactic ticket entirely with Bitcoin, something theyre rumored to have a massive stash of. The adventurous venture capitalist brothers, perhaps best known for their legal wrangle with Mark Zuckerberg over HarvardConnection -- um, we mean Facebook -- announced today theyre officially scheduled to hitch a suborbital ride aboard British billionaire Richard Bransons Virgin Galactic SpaceShipTwo. The early Bitcoin backers, who reportedly own about 40,000 bitcoins (a cool $27 million or so in U.S. dollars), could blast off by the end of the year. At least thats around when Branson says his pioneering private spaceflight company is expected to make its maiden tourist voyage into space. Related: Winklevoss Twins Launch Winkdex Bitcoin Index While rocketing 60 miles above Earth at three times the speed of sound, the lucky brothers Winklevii will glimpse a killer view of our planet while experiencing weightlessness for a few minutes. Yeah, were pretty jealous, too. Maybe theyll even float for a hot second or a few alongside fellow famous Virgin Galactic ticket holders , like Lady Gaga, Justin Bieber, Angelina Jolie, Brad Pitt and Leonardo DiCaprio. The New York native former Olympic rower twins broke the big news, which is a welcome relief on an otherwise brutal news day for Bitcoin , on their own Winklevoss Capital blog today, complete with a celebratory thumbs-up pic of themselves bookending Branson. Cameron and I have decided to use our bitcoin to take the plunge, or rather propulsion, into space, the blog post reads. Why? Because Bitcoin and Sir Richard Bransons Virgin Galactic are two technologies that meaningfully represent our focus at Winklevoss Capital -- the reduction of pain-points and friction in an effort to build a better world. Related: Preparing For Its First Space Trip, Richard Branson's Virgin Galactic Breaks Sound Barrier Tyler Winklevoss later took to Twitter to humblebrag that he and his brother are officially Virgin Galactic astronauts 700 and 701. Story continues Happy to announce that @winklevoss and I have used #bitcoin to become @virgingalactic astronauts number 700 and 701 http://t.co/JSruUeb0Kh Tyler Winklevoss (@tylerwinklevoss) March 5, 2014 Branson returned the Twitter love by virtually welcoming the boys aboard the good ship SpaceShipTwo with this cheeky tweet: How will going to #space affect identical twins? Well soon find out! Welcome aboard the Winklevoss twins http://t.co/7PqgrSX8iS Richard Branson (@richardbranson) March 5, 2014 In November of last year, Branson announced on his blog that Virgin Galactic, one of 400 Virgin Group companies, would begin accepting bitcoin payments for suborbital flights. A Virgin Galactic flight attendant was the first to purchase a ticket using BTC. Related: 50 Insane Facts About Bitcoin (Infographic) Virgin Galactic is one of the universes most exciting, futuristic companies, Branson wrote. Bitcoin, the virtual currency, has really captured the imagination recently as one of the worlds most innovative businesses looking to the future. So we think it is about time Virgin Galactic customers can choose to pay with bitcoins . Late last month the twins launched the Winkdex , a blended Bitcoin price index similar to CoinDesks Bitcoin Price Index . And, according to the Winkdex, as of 5:22 p.m. ET today, the price of the volatile virtual currency was $658.82. More From Entrepreneur These Are the Types of Posts People Share the Most on Facebook Japan Considers Taxing Bitcoin, Canadian Exchange Folds Following Hack 50 Insane Facts About Bitcoin (Infographic) |
1,394,058,300 | 2014-03-05 22:25:00+00:00 | {"Bitcoin": [132, 511, 836, 1395, 1664, 2911, 3029, 3326, 3368, 3612, 3682], "BTC": [2875]} | {"Bitcoin": [73]} | The Winklevoss Twins Score Virgin Galactic Tickets to Space, Paying With Bitcoin | https://finance.yahoo.com/news/finance.yahoo.com/news/winklevoss-twins-score-virgin-galactic-222545582.html | Entrepreneur | http://www.entrepreneur.com/ | The Winklevoss twins are going to space and it’s no surprise that they paid for their $250,000 Virgin Galactic ticket entirely with Bitcoin, something they’re rumored to have a massive stash of. The adventurous venture capitalist brothers, perhaps best known for their legal wrangle with Mark Zuckerberg over HarvardConnection -- um, we mean Facebook -- announced today they’re officially scheduled to hitch a suborbital ride aboard British billionaire Richard Branson’s Virgin Galactic SpaceShipTwo. The early Bitcoin backers, who reportedly own about 40,000 bitcoins (a cool $27 million or so in U.S. dollars), could blast off by the end of the year. At least that’s around when Branson says his pioneering private spaceflight company is expected to make its maiden tourist voyage into space. Related: Winklevoss Twins Launch Winkdex Bitcoin Index While rocketing 60 miles above Earth at three times the speed of sound, the lucky brothers Winklevii will glimpse a killer view of our planet while experiencing weightlessness for a few minutes. Yeah, we’re pretty jealous, too. Maybe they’ll even float for a hot second or a few alongside fellow famous Virgin Galactic ticket holders , like Lady Gaga, Justin Bieber, Angelina Jolie, Brad Pitt and Leonardo DiCaprio. The New York native former Olympic rower twins broke the big news, which is a welcome relief on an otherwise brutal news day for Bitcoin , on their own Winklevoss Capital blog today, complete with a celebratory “thumbs-up” pic of themselves bookending Branson. “Cameron and I have decided to use our bitcoin to take the plunge, or rather propulsion, into space,” the blog post reads. “Why? Because Bitcoin and Sir Richard Branson’s Virgin Galactic are two technologies that meaningfully represent our focus at Winklevoss Capital -- the reduction of pain-points and friction in an effort to build a better world.” Related: Preparing For Its First Space Trip, Richard Branson's Virgin Galactic Breaks Sound Barrier Tyler Winklevoss later took to Twitter to humblebrag that he and his brother are officially Virgin Galactic “astronauts” 700 and 701. Story continues Happy to announce that @winklevoss and I have used #bitcoin to become @virgingalactic astronauts number 700 and 701 http://t.co/JSruUeb0Kh — Tyler Winklevoss (@tylerwinklevoss) March 5, 2014 Branson returned the Twitter love by virtually welcoming the boys aboard the good ship SpaceShipTwo with this cheeky tweet: How will going to #space affect identical twins? We’ll soon find out! Welcome aboard the Winklevoss twins http://t.co/7PqgrSX8iS — Richard Branson (@richardbranson) March 5, 2014 In November of last year, Branson announced on his blog that Virgin Galactic, one of 400 Virgin Group companies, would begin accepting bitcoin payments for suborbital flights. A Virgin Galactic flight attendant was the first to purchase a ticket using BTC. Related: 50 Insane Facts About Bitcoin (Infographic) “Virgin Galactic is one of the universe’s most exciting, futuristic companies,” Branson wrote. “Bitcoin, the virtual currency, has really captured the imagination recently as one of the world’s most innovative businesses looking to the future. So we think it is about time Virgin Galactic customers can choose to pay with bitcoins .” Late last month the twins launched the Winkdex , a blended Bitcoin price index similar to CoinDesk’s Bitcoin Price Index . And, according to the Winkdex, as of 5:22 p.m. ET today, the price of the volatile virtual currency was $658.82. More From Entrepreneur These Are the Types of Posts People Share the Most on Facebook Japan Considers Taxing Bitcoin, Canadian Exchange Folds Following Hack 50 Insane Facts About Bitcoin (Infographic) |
1,394,108,880 | 2014-03-06 12:28:00+00:00 | {"Bitcoin": [104, 708, 1155, 1361, 1448, 1710]} | {"Bitcoin": [0]} | Bitcoin's elusive founder reportedly discovered living in California (update: maybe not) | https://finance.yahoo.com/news/2014-03-06-bitcoin-founder.html | Engadget | https://www.engadget.com/ | There have been many theories bandied about as to the true identity of Satoshi Nakamoto, the creator of Bitcoin . Nothing conclusive has married the name to an individual or group, but now Newsweek claims to have found the Nakamoto, a 64-year-old Japanese-American man of the same name residing in California. Allegedly living an understated life, Nakamoto's said to no longer be connected to the digital currency he's implicated in making. We know this all sounds annoyingly cut and dried (a story's often more exciting than the reality, after all), but there's still Nakamoto's name changes and classified government work, among other things, to keep things mysterious. Whether this truly is the father of Bitcoin is still up for discussion, too -- there's still been no clear admission as such -- so we'll just point you to the Newsweek piece and let you make your own mind up. Update : After an eventful day of dodging reporters and engaging in a multi-car chase through Los Angeles, Nakamoto has sat down with the Associated Press to strongly deny he has anything to do with the digital currency. Indeed, he told the AP that he's never even heard of Bitcoin until three weeks ago when his son told him a reporter called to ask questions about it. However, the Newsweek article itself quotes Nakamoto's brother as saying that "he'll never admit to starting Bitcoin" and that "he'll deny everything." All of which is to say the true identity of Bitcoin's founder remains very much unconfirmed. Update 2 : Apparently the genuine Satoshi Nakamoto has just posted on to the P2P Foundation (a forum for peer to peer currency) stating that he is not Dorian Satoshi Nakamoto, the person whom Newsweek fingered as Bitcoin's founder. |
1,394,111,356 | 2014-03-06 13:09:16+00:00 | {"Bitcoin": [49, 115, 146, 333, 450, 629, 741, 1040, 1354, 1414, 1834, 2583, 2865, 3323, 3829, 3871, 4275, 4593, 4622, 4703, 5233, 5273, 5346, 5450, 5680, 5957, 5985, 6011, 6044, 6061, 6127, 6173, 6232]} | {"Bitcoin": [30]} | World's First Accelerator for Bitcoin & Next Gen Cryptocurrencies Launches in Canada | https://finance.yahoo.com/news/finance.yahoo.com/news/worlds-first-accelerator-bitcoin-next-130916335.html | Marketwired | http://www.marketwired.com/ | TORONTO, ONTARIO--(Marketwired - Mar 6, 2014) - Bitcoin Decentral, Canada's pre-eminent hub for the decentralized Bitcoin community is launching Bitcoin Decentral Accelerate , the world's first technology startup accelerator dedicated to funding and growing startups focused on next generation cryptocurrencies and disruptive tech. Bitcoin Decentral is an innovative technology business development centre that has successfully built an established Bitcoin community of passionate experts, entrepreneurs, advocates, and volunteers, from its eclectic offices in a turn-of-century four-story building in downtown Toronto, Canada. Bitcoin Decentral Accelerate is the first global accelerator that is driven by key players and mentors from the Bitcoin sector. Canada's favorable cryptocurrency business environment makes this Toronto-based location an ideal strategic launchpad for startups from around the world. "We have created a unique accelerator that takes advantage of the booming innovation opportunities around the next generation of Bitcoin and other disruptive technologies", says Anthony Di Iorio , the accelerator's CEO, founder and general partner. "We have received resounding support from the community, initial investors and mentors, and are laying a strong foundation to build a world-class center of excellence in this emerging segment." Bitcoin Decentral Accelerate is at the heart of an existing Bitcoin community of entrepreneurship and technical innovation. Launching with a unique set of mentors from the global cryptocurrency space and traditional startup businesses, select investors that can lead follow-on financing rounds, a proven program curriculum that is customized for each startup, experienced managing partners and advisors, and unparalleled insights and visibility from being an integral part of the Bitcoin/Ethereum global ecosystem. A. Traviss Corry , known for his work in developing internationally recognized accelerator programs, will take the role of Managing Director and founding partner. He will guide the startups through a three month custom program driven by many key recognized mentors in the sector. Story continues William Mougayar, founder of Startup Management, an experienced entrepreneur and thought leader in the startup space, will take the role of Special Advisor, and help in developing the accelerator's networks, and connecting startups with the tech community, as well as being a mentor. "We have assembled the optimum mentor and investor network for the cryptocurrency space." says A. Traviss Corry, Managing Director of Bitcoin Accelerate. "Working with our mentors, our acceleration program is structured as a three month curriculum of due diligence deliverables that is customized for each startup's unique needs. This approach is a roadmap that strongly prepares startups for their future success." Bitcoin Decentral Accelerate launches with a core group of highly engaged mentors, as part of a network of over 100 mentors. This roster has commitments from the top tier of the cryptocurrency space, including Ethereum co-founders Vitalik Buterin and Anthony Di Iorio , investor Brock Pierce , Coinapult founder Erik Voorhees , BitPay CEO Tony Gallippi , Blockchain Chief Security Officer Andreas Antonopoulos , monetary expert Trace Meyer , Chairman of the Bitcoin Foundation's Regulatory Affairs Committee Marco Santori, BitAngels co-founder David A. Johnston , Hummingbird Venture Partner Pamir Gelenbe , strategist Jason King , Social Radius CEO Michael Terpin , investor Matthew Roszak , Monetas CEO Johann Gevers , QuickBT founder Jamie Robinson , gaming and cryptocurrency attorney Stuart Hoegner , Griffen Ventures CEO Manie Eagar , MontCombine's Rik Willard , Wild Apricot founder Dmitry Buterin , software professional Joseph Lubin , and Director at the Bitcoin Alliance of Canada and founder of Bitcoinsultants Michael Perklin . Startups that are accepted into the program receive an initial investment from the accelerator's fund in exchange for a small equity stake, as well as significant perks. Upon graduation, startups will receive an additional investment commitment that will seed their follow-on round. Applications are now open online. The first selected startups will be announced at the Bitcoin Expo on April 11-13 in Toronto, providing the first participants with instant global exposure. This initial cohort will be expected to start on April 21 st , and a total of 9 groups will run through this program, initially. For investment and mentorship inquiries, please contact [email protected] . About Bitcoin Decentral Accelerate Bitcoin Decentral Accelerate is a Toronto-based startup accelerator dedicated to Bitcoin, cryptocurrencies, and related disruptive technologies, including a focus on the next generation of economic and financial services in Fintech. BD Accelerate will run a 3-month curriculum structured program, driven by expert mentors, strong valued investors, and a supportive community; all immersed in an emerging revolutionary tech sector, full of passionate people, working to build a better globally decentralized economy. For more info, please visit http://bdaccelerate.com , and follow @bdecentral on Twitter. About Bitcoin Decentral Founded by successful Bitcoin community builder, investor, and entrepreneur, Anthony Di Iorio, Bitcoin Decentral is a disruptive business development centre, and digital global hub for innovation in Bitcoin, Cryptocurrency, Fintech and related disruptive technologies. The centre is in a historic and eclectic 100-year old, 4-story building in downtown Toronto, housing several cryptocurrency related ventures as well as events. Bitcoin Decentral provides a co-working space on its main floor, offices and a startup accelerator above, as well as in-house expert educational information, and an unparalleled network of global relationships. Initial anchor tenants include Ethereum, KryptoKit, CoinTalk, the Bitcoin Alliance of Canada, Bitcoin Decentral Cowork, Bitcoin Decentral Accelerate and Bitcoinsultants. Bitcoin Decentral is also home of Toronto's first and most active Bitcoin ATM, the meeting spot for the Toronto Bitcoin Meetup, and the headquarters for the upcoming 2014 Bitcoin Expo (April 11-13 2014). |
1,394,122,259 | 2014-03-06 16:10:59+00:00 | {"Bitcoin": [13, 97, 706, 1362, 1435, 1688, 1821, 1891, 2137, 2267, 2318]} | {"Bitcoin": [51]} | This could very well be the man who really created Bitcoin | https://finance.yahoo.com/news/finance.yahoo.com/news/could-very-well-man-really-created-bitcoin-161059595.html | BGR News | http://www.bgr.com/ | According to Bitcoin lore, the cryptocurrency got its humble beginnings in a white paper called “Bitcoin: A Peer-to-Peer Electronic Cash System” written by a man calling himself Satoshi Nakamoto. For years, though, no one knew Nakamoto’s actual whereabouts or even if he really existed at all… until now. Newsweek has done some impressive detective work and has tracked down whom it claims to be the real Nakamoto at his home in Temple City, California. Nakamoto comes across as somewhat reclusive and more than a little paranoid. The first thing he did when Newsweek reporter Leah McGrath Goodman approached his house was to call the local police department. He is also incredibly reluctant to talk about Bitcoin even though he tacitly acknowledges his role in its creation. “I am no longer involved in that and I cannot discuss it,” the 64-year-old Nakamoto told Newsweek when asked. “It’s been turned over to other people. They are in charge of it now. I no longer have any connection.” Nakamoto’s career is just as secretive: Newsweek found that he has a long history of doing “classified work for major corporations and the U.S. military.” Nakamoto’s youngest brother also told Newsweek that Nakamoto is “an asshole” who has “worked on classified stuff” and has led a life that was “a complete blank for a while.” Nakamoto also apparently gave a talk about Bitcoin to the CIA as a way to help the intelligence agency realize that Bitcoin was not a threat to economic stability or strictly a black market currency being used solely for illegal activity. Yet despite his work and deep connections with the federal government, Nakamoto was also apparently a staunch libertarian who saw Bitcoin as a way to develop currency that wasn’t prone to manipulation by the Federal Reserve. All things told, Newsweek’s exposé on Bitcoin’s father raises even more questions than it answers and makes Bitcoin’s origins seem even shadier than they were before. More from BGR: Apple’s iPhone 6 must have switched to sapphire, because Corning is already bashing it Story continues This article was originally published on BGR.com Related stories Are Bitcoin exchanges just Nigerian scam emails for gullible nerds? Mt. Gox finally tells its side of the story after $500 million in Bitcoin vanishes The failure is complete: One-time Bitcoin king Mt. Gox is bankrupt |
1,394,132,700 | 2014-03-06 19:05:00+00:00 | {"Bitcoin": [1955, 2004]} | {} | Amazon Launches Pilot Program Selling 3-D Printed Products | https://finance.yahoo.com/news/finance.yahoo.com/news/amazon-launches-pilot-program-selling-190500310.html | Entrepreneur | http://www.entrepreneur.com/ | The marketplace for entrepreneurs making 3-D printed consumer goods just got a whole lot bigger. Seattle-based e-commerce giant Amazon has launched a pilot program selling 3-D printed consumer goods. That’s great news for businesses in the space, but it’s also helpful for the fashion-forward crowd. You can pick up things like an iPhone case , a belt buckle , or a bracelet on the platform. The Amazon.com platform for 3-D printed goods is “appealing to independent designers who’ve told us they want access to a large consumer market,” Colin Klayer of 3-D printing service 3DLT said in a statement. Related: How Drones Are Changing the Way We Do Business 3DLT is one of the companies invited by Amazon to participate in its pilot program . Founded in 2012, it's a marketplace for designers to sell blueprints for 3-D printed goods and connect with larger 3-D printing shops. It's also a place for consumers to buy designs and 3-D printed objects. While the consumer-goods pilot program is another step for Amazon into the 3-D printing world, it’s not its first. In June of 2013, Amazon started selling 3-D printers and related supplies. Related: In Leaked Spoof, Netflix Takes Aim at Amazon's Proposed Drones “When it was announced that Amazon would begin selling 3-D printers and supplies last summer, the industry heralded it as a defining moment, a clear indication that 3-D printing was going mainstream,” said John Hauer, CEO of 3DLT, in a statement. “We think the decision to sell 3-D printed products sends an even bigger message. Consumer products are the next frontier.” 3DLT said it was told by Amazon that five or six other companies would be participating in the program. Amazon did not immediately respond to a request for comment. Related: Is Amazon Making Peace With Its Retail Frenemies? More From Entrepreneur Tech All Stars and Investment-Hungry Startups Rub Elbows at OASIS Summit in Santa Monica The Obsessively Secretive Founder of Bitcoin Has Been Unmasked Japan Considers Taxing Bitcoin, Canadian Exchange Folds Following Hack |
1,394,140,320 | 2014-03-06 21:12:00+00:00 | {"Bitcoin": [758]} | {} | Gap Sales Tank, Stock Falls | https://finance.yahoo.com/news/finance.yahoo.com/news/gap-sales-tank-stock-falls-210900760.html | Business Insider | http://www.businessinsider.com/ | Gap bag shopping Dimas Ardian/Getty Images Gap is down 4% to $40.61 after hours. This comes after the retailer reported that comp sales were down 7% in February missing expectations for a 1.1% rise. Gap Global comp sales were down 10%, compared with a 2% rise last year. This missed expectations for a 1.4% rise. Global Banana Republic comp sales were down 7%, compared with -5% last year. Meanwhile, global Old Navy comp sales were down 6%, compared with a positive 6% a year ago. The company said 450 stores "experienced closures" because of the extreme cold. "While February was clearly a difficult month, we remain focused on executing our global priorities,” Glenn Murphy, chairman and CEO of Gap Inc said in a press release. More From Business Insider Bitcoin Community Goes Into A Rage Over Newsweek Story REPORT: BITCOIN INVENTOR HAS BEEN FOUND 10 Ways Great Speakers Capture People's Attention Anchor For Russian Propaganda Channel Dramatically Quits In Protest Live On The Air The 11 Most Nutrient Dense Foods In The World |
1,394,146,790 | 2014-03-06 22:59:50+00:00 | {"Bitcoin": [98, 1355, 1769]} | {"Bitcoin": [11]} | Man called Bitcoin's father denies any ties, wrangles free lunch | https://finance.yahoo.com/news/man-called-bitcoins-father-denies-ties-wrangles-free-224044758--sector.html | Reuters | https://www.reuters.com/ | TEMPLE CITY, California (Reuters) - A reclusive Japanese American man thought to be the father of Bitcoin emerged from his Southern California home and denied any involvement with the digital currency, before leading reporters on a car chase leading to the headquarters of the Associated Press. Satoshi Nakamoto, a name known to legions of bitcoin traders, practitioners and boosters around the world, appeared to lose his anonymity on Thursday after Newsweek published a story that said Nakamoto lived in Temple City, California, just east of Los Angeles, and included a photograph. Dozens of reporters encircled a modest two-story house thought to be his residence on Thursday morning. No one answered the doorbell, though several times, someone pulled back the drapes on an upstairs window, suggesting the person was keeping an eye on the street. In the afternoon, Nakamoto stepped outside and told reporters he had nothing to do with bitcoin but was looking for someone who understood Japanese, to buy him a free lunch. An AP reporter said yes, and the two made their way to a nearby sushi restaurant with media in tow, before leaving and heading downtown. According to a Los Angeles Times reporter, who followed his car, Nakamoto was driven to the Associated Press offices in downtown Los Angeles, where he again denied any involvement with bitcoin. Bitcoin enthusiasts have come under fire in recent weeks, following the sensational collapse of Mt. Gox, once among the largest of the bitcoin exchanges, and the closure of Canadian bitcoin lender Flexcoin. The collapse of Mt. Gox has shaken confidence in the digital currency, which advocates believe will smooth financial transactions across the world. Opponents criticize it as a risky, unregulated investment. Bitcoin is a digital currency that, unlike conventional money, is bought and sold on a peer-to-peer network independent of central control. Its value soared last year, and the total worth of bitcoins minted is now about $7 billion. (Reporting by Brandon Lowrey; and Aron Ranen, writing by Edwin Chan, editing by Peter Henderson) |
1,394,164,315 | 2014-03-07 03:51:55+00:00 | {"Bitcoin": [1189]} | {} | AP Exclusive: Man denies he's bitcoin creator | https://finance.yahoo.com/news/finance.yahoo.com/news/ap-exclusive-man-denies-hes-035115687.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) -- Dorian Prentice Satoshi Nakamoto denied Thursday that he is the creator of bitcoin. Newsweek published a 4,500-word cover story claiming Nakamoto is the person who wrote the computer code underpinnings of bitcoin, but in an exclusive two-hour interview with The Associated Press, Nakamoto denied he had anything to do with the digital currency. Nakamoto, 64, said he had never heard of bitcoin until his son told him he had been contacted by a Newsweek reporter three weeks ago. He acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor, and that his given name at birth was Satoshi. But he strongly disputed the magazine's assertion that he is "the face behind bitcoin." "I got nothing to do with it," he said, repeatedly. Newsweek stands by its story, which kicked off the relaunch of its print edition after 15 months and reorganization under new ownership. Since bitcoin's birth in 2009, the currency's creator has remained a mystery. The person — or people — behind the digital currency's inception have been known only as "Satoshi Nakamoto," which many observers believed to be a pseudonym. Bitcoin has become increasingly popular among tech enthusiasts, libertarians and risk-seeking investors because it allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. Criminals like bitcoin for the same reasons. For various technical reasons, it's hard to know just how many people worldwide own bitcoins, but the currency attracted outsize media attention and the fascination of millions as an increasing number of large retailers such as Overstock.com began to accept it. Speculative investors have jumped into the bitcoin fray, too, sending the currency's value fluctuating wildly in recent months. In December, the value of a single bitcoin hit an all-time high of $1,200. It was around $665 on Thursday, according to the website bitcoincharts.com. Story continues After Newsweek posted the story on its website early Thursday, Nakamoto said his home was bombarded by phone calls. By mid-morning, a dozen reporters were waiting outside the modest two-story home on the residential street in Temple City, Calif., where he lives. He emerged shortly after noon saying he wanted to speak with one reporter only and asked for a "free lunch." During a car ride and then later over sushi lunch at the AP bureau in downtown Los Angeles, Nakamoto spoke at length about his life, career and family, addressing many of the assertions in Newsweek's piece. He also said a key portion of the piece — where he is quoted telling the reporter on his doorstep before two police officers, "I am no longer involved in that and I cannot discuss it" — was misunderstood. Nakamoto said he is a native of Beppu, Japan who came to the U.S. when he was 10. He speaks both English and Japanese, but his English isn't flawless. Asked if he said the quote, Nakamoto responded, "no." "I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied." "It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said. Newsweek writer Leah McGrath Goodman, who spent two months researching the story, told the AP: "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation —and his acknowledgment of his involvement in bitcoin." Several times during the interview with AP, Nakamoto mistakenly referred to the currency as "Bitcom." When shown the original bitcoin proposal that Newsweek linked to in its story, Nakamoto said he didn't write it, and said the email address in the document wasn't his. "Peer-to-peer can be anything," he said. "That's just a matter of address. What the hell? It doesn't make sense to me." Asked if he was technically able to come up with the idea for bitcoin, Nakamoto responded: "Capability? Yes, but any programmer could do that." The nearest Nakamoto has come to working on a financial system, he said, was a project for Citibank with a company called Quotron, which provided real-time stock prices to brokerage firms. Nakamoto said he worked on the software side for about four years starting in 1987. "That had nothing to do with skipping financial institutions," he said. Nakamoto said he believes someone either came up with the name or specifically targeted him to be the fall guy for the currency's creation. He also said he doesn't discuss his career because in many cases, his work was confidential. When he was employed by Hughes Aircraft starting around 1973, he worked on missile systems for the U.S. Navy and Air Force. He said he also worked for the Federal Aviation Administration starting around 1999, but was laid off following the Sept. 11, 2001 attacks. Getting hired by a military contractor was the reason he applied for and received American citizenship. He decided around that time to change his name, adding "Dorian Prentice" to Satoshi Nakamoto, partly to sound more Western. He said he picked "Dorian" because he says it meant "a man of simplicity" and referred to the ancient Greek people. "Prentice" alluded to his affinity for learning, he said. As he poured over the Newsweek story with a reporter, Nakamoto repeatedly said "oh jeez," as he read private details about himself, quotes from his children and even specifics from his medical history. "How long is this media hoopla going to last?" he said. |
1,394,164,315 | 2014-03-07 03:51:55+00:00 | {"Bitcoin": [1188]} | {} | AP Exclusive: Man denies he's bitcoin creator | https://finance.yahoo.com/news/ap-exclusive-man-denies-hes-bitcoin-creator-035155169--finance.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) Dorian Prentice Satoshi Nakamoto denied Thursday that he is the creator of bitcoin. Newsweek published a 4,500-word cover story claiming Nakamoto is the person who wrote the computer code underpinnings of bitcoin, but in an exclusive two-hour interview with The Associated Press, Nakamoto denied he had anything to do with the digital currency. Nakamoto, 64, said he had never heard of bitcoin until his son told him he had been contacted by a Newsweek reporter three weeks ago. He acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor, and that his given name at birth was Satoshi. But he strongly disputed the magazine's assertion that he is "the face behind bitcoin." "I got nothing to do with it," he said, repeatedly. Newsweek stands by its story, which kicked off the relaunch of its print edition after 15 months and reorganization under new ownership. Since bitcoin's birth in 2009, the currency's creator has remained a mystery. The person or people behind the digital currency's inception have been known only as "Satoshi Nakamoto," which many observers believed to be a pseudonym. Bitcoin has become increasingly popular among tech enthusiasts, libertarians and risk-seeking investors because it allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. Criminals like bitcoin for the same reasons. For various technical reasons, it's hard to know just how many people worldwide own bitcoins, but the currency attracted outsize media attention and the fascination of millions as an increasing number of large retailers such as Overstock.com began to accept it. Speculative investors have jumped into the bitcoin fray, too, sending the currency's value fluctuating wildly in recent months. In December, the value of a single bitcoin hit an all-time high of $1,200. It was around $665 on Thursday, according to the website bitcoincharts.com. Story continues After Newsweek posted the story on its website early Thursday, Nakamoto said his home was bombarded by phone calls. By mid-morning, a dozen reporters were waiting outside the modest two-story home on the residential street in Temple City, Calif., where he lives. He emerged shortly after noon saying he wanted to speak with one reporter only and asked for a "free lunch." During a car ride and then later over sushi lunch at the AP bureau in downtown Los Angeles, Nakamoto spoke at length about his life, career and family, addressing many of the assertions in Newsweek's piece. He also said a key portion of the piece where he is quoted telling the reporter on his doorstep before two police officers, "I am no longer involved in that and I cannot discuss it" was misunderstood. Nakamoto said he is a native of Beppu, Japan who came to the U.S. when he was 10. He speaks both English and Japanese, but his English isn't flawless. Asked if he said the quote, Nakamoto responded, "no." "I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied." "It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said. Newsweek writer Leah McGrath Goodman, who spent two months researching the story, told the AP: "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation and his acknowledgment of his involvement in bitcoin." Several times during the interview with AP, Nakamoto mistakenly referred to the currency as "Bitcom." When shown the original bitcoin proposal that Newsweek linked to in its story, Nakamoto said he didn't write it, and said the email address in the document wasn't his. "Peer-to-peer can be anything," he said. "That's just a matter of address. What the hell? It doesn't make sense to me." Asked if he was technically able to come up with the idea for bitcoin, Nakamoto responded: "Capability? Yes, but any programmer could do that." The nearest Nakamoto has come to working on a financial system, he said, was a project for Citibank with a company called Quotron, which provided real-time stock prices to brokerage firms. Nakamoto said he worked on the software side for about four years starting in 1987. "That had nothing to do with skipping financial institutions," he said. Nakamoto said he believes someone either came up with the name or specifically targeted him to be the fall guy for the currency's creation. He also said he doesn't discuss his career because in many cases, his work was confidential. When he was employed by Hughes Aircraft starting around 1973, he worked on missile systems for the U.S. Navy and Air Force. He said he also worked for the Federal Aviation Administration starting around 1999, but was laid off following the Sept. 11, 2001 attacks. Getting hired by a military contractor was the reason he applied for and received American citizenship. He decided around that time to change his name, adding "Dorian Prentice" to Satoshi Nakamoto, partly to sound more Western. He said he picked "Dorian" because he says it meant "a man of simplicity" and referred to the ancient Greek people. "Prentice" alluded to his affinity for learning, he said. As he poured over the Newsweek story with a reporter, Nakamoto repeatedly said "oh jeez," as he read private details about himself, quotes from his children and even specifics from his medical history. "How long is this media hoopla going to last?" he said. |
1,394,164,315 | 2014-03-07 03:51:55+00:00 | {"Bitcoin": [1189]} | {} | AP Exclusive: Man denies he's bitcoin creator | https://finance.yahoo.com/news/ap-exclusive-man-denies-hes-035115687.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) -- Dorian Prentice Satoshi Nakamoto denied Thursday that he is the creator of bitcoin. Newsweek published a 4,500-word cover story claiming Nakamoto is the person who wrote the computer code underpinnings of bitcoin, but in an exclusive two-hour interview with The Associated Press, Nakamoto denied he had anything to do with the digital currency. Nakamoto, 64, said he had never heard of bitcoin until his son told him he had been contacted by a Newsweek reporter three weeks ago. He acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor, and that his given name at birth was Satoshi. But he strongly disputed the magazine's assertion that he is "the face behind bitcoin." "I got nothing to do with it," he said, repeatedly. Newsweek stands by its story, which kicked off the relaunch of its print edition after 15 months and reorganization under new ownership. Since bitcoin's birth in 2009, the currency's creator has remained a mystery. The person or people behind the digital currency's inception have been known only as "Satoshi Nakamoto," which many observers believed to be a pseudonym. Bitcoin has become increasingly popular among tech enthusiasts, libertarians and risk-seeking investors because it allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. Criminals like bitcoin for the same reasons. For various technical reasons, it's hard to know just how many people worldwide own bitcoins, but the currency attracted outsize media attention and the fascination of millions as an increasing number of large retailers such as Overstock.com began to accept it. Speculative investors have jumped into the bitcoin fray, too, sending the currency's value fluctuating wildly in recent months. In December, the value of a single bitcoin hit an all-time high of $1,200. It was around $665 on Thursday, according to the website bitcoincharts.com. Story continues After Newsweek posted the story on its website early Thursday, Nakamoto said his home was bombarded by phone calls. By mid-morning, a dozen reporters were waiting outside the modest two-story home on the residential street in Temple City, Calif., where he lives. He emerged shortly after noon saying he wanted to speak with one reporter only and asked for a "free lunch." During a car ride and then later over sushi lunch at the AP bureau in downtown Los Angeles, Nakamoto spoke at length about his life, career and family, addressing many of the assertions in Newsweek's piece. He also said a key portion of the piece where he is quoted telling the reporter on his doorstep before two police officers, "I am no longer involved in that and I cannot discuss it" was misunderstood. Nakamoto said he is a native of Beppu, Japan who came to the U.S. when he was 10. He speaks both English and Japanese, but his English isn't flawless. Asked if he said the quote, Nakamoto responded, "no." "I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied." "It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said. Newsweek writer Leah McGrath Goodman, who spent two months researching the story, told the AP: "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation and his acknowledgment of his involvement in bitcoin." Several times during the interview with AP, Nakamoto mistakenly referred to the currency as "Bitcom." When shown the original bitcoin proposal that Newsweek linked to in its story, Nakamoto said he didn't write it, and said the email address in the document wasn't his. "Peer-to-peer can be anything," he said. "That's just a matter of address. What the hell? It doesn't make sense to me." Asked if he was technically able to come up with the idea for bitcoin, Nakamoto responded: "Capability? Yes, but any programmer could do that." The nearest Nakamoto has come to working on a financial system, he said, was a project for Citibank with a company called Quotron, which provided real-time stock prices to brokerage firms. Nakamoto said he worked on the software side for about four years starting in 1987. "That had nothing to do with skipping financial institutions," he said. Nakamoto said he believes someone either came up with the name or specifically targeted him to be the fall guy for the currency's creation. He also said he doesn't discuss his career because in many cases, his work was confidential. When he was employed by Hughes Aircraft starting around 1973, he worked on missile systems for the U.S. Navy and Air Force. He said he also worked for the Federal Aviation Administration starting around 1999, but was laid off following the Sept. 11, 2001 attacks. Getting hired by a military contractor was the reason he applied for and received American citizenship. He decided around that time to change his name, adding "Dorian Prentice" to Satoshi Nakamoto, partly to sound more Western. He said he picked "Dorian" because he says it meant "a man of simplicity" and referred to the ancient Greek people. "Prentice" alluded to his affinity for learning, he said. As he poured over the Newsweek story with a reporter, Nakamoto repeatedly said "oh jeez," as he read private details about himself, quotes from his children and even specifics from his medical history. "How long is this media hoopla going to last?" he said. |
1,394,164,315 | 2014-03-07 03:51:55+00:00 | {"Bitcoin": [1188]} | {} | AP Exclusive: Man denies he's bitcoin creator | https://finance.yahoo.com/news/finance.yahoo.com/news/ap-exclusive-man-denies-hes-bitcoin-creator-035155169--finance.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) — Dorian Prentice Satoshi Nakamoto denied Thursday that he is the creator of bitcoin. Newsweek published a 4,500-word cover story claiming Nakamoto is the person who wrote the computer code underpinnings of bitcoin, but in an exclusive two-hour interview with The Associated Press, Nakamoto denied he had anything to do with the digital currency. Nakamoto, 64, said he had never heard of bitcoin until his son told him he had been contacted by a Newsweek reporter three weeks ago. He acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor, and that his given name at birth was Satoshi. But he strongly disputed the magazine's assertion that he is "the face behind bitcoin." "I got nothing to do with it," he said, repeatedly. Newsweek stands by its story, which kicked off the relaunch of its print edition after 15 months and reorganization under new ownership. Since bitcoin's birth in 2009, the currency's creator has remained a mystery. The person — or people — behind the digital currency's inception have been known only as "Satoshi Nakamoto," which many observers believed to be a pseudonym. Bitcoin has become increasingly popular among tech enthusiasts, libertarians and risk-seeking investors because it allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. Criminals like bitcoin for the same reasons. For various technical reasons, it's hard to know just how many people worldwide own bitcoins, but the currency attracted outsize media attention and the fascination of millions as an increasing number of large retailers such as Overstock.com began to accept it. Speculative investors have jumped into the bitcoin fray, too, sending the currency's value fluctuating wildly in recent months. In December, the value of a single bitcoin hit an all-time high of $1,200. It was around $665 on Thursday, according to the website bitcoincharts.com. Story continues After Newsweek posted the story on its website early Thursday, Nakamoto said his home was bombarded by phone calls. By mid-morning, a dozen reporters were waiting outside the modest two-story home on the residential street in Temple City, Calif., where he lives. He emerged shortly after noon saying he wanted to speak with one reporter only and asked for a "free lunch." During a car ride and then later over sushi lunch at the AP bureau in downtown Los Angeles, Nakamoto spoke at length about his life, career and family, addressing many of the assertions in Newsweek's piece. He also said a key portion of the piece — where he is quoted telling the reporter on his doorstep before two police officers, "I am no longer involved in that and I cannot discuss it" — was misunderstood. Nakamoto said he is a native of Beppu, Japan who came to the U.S. when he was 10. He speaks both English and Japanese, but his English isn't flawless. Asked if he said the quote, Nakamoto responded, "no." "I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied." "It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said. Newsweek writer Leah McGrath Goodman, who spent two months researching the story, told the AP: "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation —and his acknowledgment of his involvement in bitcoin." Several times during the interview with AP, Nakamoto mistakenly referred to the currency as "Bitcom." When shown the original bitcoin proposal that Newsweek linked to in its story, Nakamoto said he didn't write it, and said the email address in the document wasn't his. "Peer-to-peer can be anything," he said. "That's just a matter of address. What the hell? It doesn't make sense to me." Asked if he was technically able to come up with the idea for bitcoin, Nakamoto responded: "Capability? Yes, but any programmer could do that." The nearest Nakamoto has come to working on a financial system, he said, was a project for Citibank with a company called Quotron, which provided real-time stock prices to brokerage firms. Nakamoto said he worked on the software side for about four years starting in 1987. "That had nothing to do with skipping financial institutions," he said. Nakamoto said he believes someone either came up with the name or specifically targeted him to be the fall guy for the currency's creation. He also said he doesn't discuss his career because in many cases, his work was confidential. When he was employed by Hughes Aircraft starting around 1973, he worked on missile systems for the U.S. Navy and Air Force. He said he also worked for the Federal Aviation Administration starting around 1999, but was laid off following the Sept. 11, 2001 attacks. Getting hired by a military contractor was the reason he applied for and received American citizenship. He decided around that time to change his name, adding "Dorian Prentice" to Satoshi Nakamoto, partly to sound more Western. He said he picked "Dorian" because he says it meant "a man of simplicity" and referred to the ancient Greek people. "Prentice" alluded to his affinity for learning, he said. As he poured over the Newsweek story with a reporter, Nakamoto repeatedly said "oh jeez," as he read private details about himself, quotes from his children and even specifics from his medical history. "How long is this media hoopla going to last?" he said. |
1,394,166,961 | 2014-03-07 04:36:01+00:00 | {"Bitcoin": [149, 728, 856, 1556, 1693, 2727, 2858, 3038, 3070, 3523, 3565, 4094, 4321]} | {"Bitcoin": [11]} | Man called Bitcoin's father denies ties, leads LA car chase | https://finance.yahoo.com/news/man-called-bitcoins-father-denies-000414635.html | Reuters | https://www.reuters.com/ | By Aron Ranen and Brandon Lowrey TEMPLE CITY, California (Reuters) - A Japanese American man thought to be the reclusive multi-millionaire father of Bitcoin emerged from a modest Southern California home and denied involvement with the digital currency before leading reporters on a freeway car chase to the local headquarters of the Associated Press. Satoshi Nakamoto, a name known to legions of bitcoin traders, practitioners and boosters around the world, appeared to lose his anonymity on Thursday after Newsweek published a story that said he lived in Temple City, California, just east of Los Angeles. Newsweek included a photograph and described a short interview, in which Nakamoto said he was no longer associated with Bitcoin and that it had been turned over to other people. The magazine concluded that the man was the same Nakamoto who founded Bitcoin. Dozens of reporters, including a sprinkling of Japanese media, encircled and camped outside the man's two-story house on Thursday morning, accosting the mailman and repeatedly ringing the doorbell, to no avail. Police cruisers drove by several times but did not stop. Several times, someone pulled back the drapes on an upstairs window. In the afternoon, the silver-haired, bespectacled Nakamoto stepped outside, dressed in a gray sport coat and green striped shirt, with a pen tucked in his shirt pocket. He was mobbed by reporters and told them he was looking for someone who understood Japanese to buy him a free lunch. Newsweek estimates his wealth at $400 million. "I'm not involved in Bitcoin. Wait a minute, I want my free lunch first. I'm going with this guy," Nakamoto said, pointing at a reporter from AP. "I'm not in Bitcoin, I don't know anything about it," he said again while walking down the street with several cameras at his heels. He and the AP reporter made their way to a nearby sushi restaurant with media in tow, before leaving and heading downtown. Los Angeles Times reporter Joe Bel Bruno followed the pair and described the chase in a running stream of tweets. Eventually, the pair dashed into the Associated Press offices in downtown Los Angeles. Story continues MISUNDERSTOOD In a later AP interview, Nakamoto said he was misunderstood in a key portion of the Newsweek story, where he tells the reporter on his doorstep, "I am no longer involved in that and I cannot discuss it." Asked by the AP if he had said that, Nakamoto said, "No." "I'm saying I'm no longer in engineering. That's it," he told the AP. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied." "It sounded like I was involved before with Bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," the AP reported him as saying. The Bitcoin Foundation, an advocacy group promoting the adoption of the digital currency, said "... We have seen zero conclusive evidence that the identified person is the designer of Bitcoin." "Those closest to the Bitcoin project, the informal team of core developers, have always been unaware of Nakamoto's true identity, as Nakamoto communicated purely through electronic means," it said in a post on its website. Newsweek writer Leah McGrath Goodman told the AP that she stood by her story. "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation - and his acknowledgment of his involvement in Bitcoin." "FOCUSED AND ECLECTIC" Fans see Bitcoin as a digital-world currency beyond government interference, while critics, whose ranks swelled with the recent bankruptcy filing by major bitcoin exchange Mt. Gox, see a risky investment whose anonymity aids drug dealers and other criminals. Nakamoto kept a low profile in part to avoid the attention of authorities, Newsweek said. On Thursday, the office of Benjamin Lawsky, superintendent of New York's Department of Financial Services, was keen on speaking with him, a source familiar with the situation told Reuters. Bitcoin is bought and sold on a peer-to-peer network independent of central control. Its value soared last year, and the total worth of bitcoins minted is now about $7 billion. In the Newsweek article, Nakamoto was credited by Bitcoin's chief scientist, Gavin Andresen, in working out the first codes behind the currency. A man of few words who refused to discuss anything beyond the currency or even communicate outside of email, Nakamoto was described by his brother in the Newsweek article as "fickle and has very weird hobbies," including a penchant for model trains. Japanese-born Nakamoto displayed an unusual aptitude for math as a child. He immigrated with his mother to California in 1959. He worked for defence and electronics company Hughes Aircraft, but never discussed work because much of it was classified, according to Newsweek interviews with several friends and relatives. "He's very focused and eclectic in his way of thinking. Smart, intelligent, mathematics, engineering, computers. You name it, he can do it," Newsweek quoted Arthur Nakamoto, his younger brother, as saying. (Reporting by Brandon Lowrey; and Aron Ranen, with additional reporting by Chris Peters; Writing by Edwin Chan; Editing by Peter Henderson and Ian Geoghegan) |
1,394,182,142 | 2014-03-07 08:49:02+00:00 | {"Bitcoin": [712]} | {} | A week after Mt. Gox collapse, Japan struggles to understand bitcoin | https://finance.yahoo.com/news/japan-says-not-fully-apprised-012458703.html | Reuters | https://www.reuters.com/ | By William Mallard TOKYO (Reuters) - A week after the collapse of Mt. Gox, Japan is still struggling to craft a response to the bitcoin phenomenon, saying the crypto-currency is not legal tender, though it might be taxable and subject to money-laundering controls. In its first detailed response to the bankruptcy of the Tokyo-based company, once the world's biggest bitcoin exchange, the government issued a statement assessing how bitcoin is covered - or more often, not covered - by existing law. The issue took on new prominence in Japan on February 28, when Mt. Gox sought Chapter 11-style bankruptcy protection, saying it had lost bitcoins and cash worth some half a billion dollars due to hacker attacks. Bitcoin is not a currency, but could be taxable under some circumstances, the statement says. Although the government understands that bitcoin is not issued or backed by any government or central bank, "we have not grasped the situation in its entirety." The authorities are monitoring the Mt. Gox bankruptcy process and, if necessary, will consider a response, said Chief Cabinet Secretary Yoshihide Suga. Fewer than 1 percent of Mt. Gox's 127,000 creditors are Japanese, the company has said. Yet across the government, officials are wrestling with how to handle bitcoin. "It's not money," said Finance Minister Taro Aso. "Does the Financial Services Agency have jurisdiction? The Finance Ministry? The Consumer Affairs Agency? The Ministry of Economy, Trade and Industry?" he asked at a regular news conference. "Opinions are divided." The government statement, citing 18 sections of 11 laws and regulations, says bitcoin is not a currency or an asset within the purview of professional trading or asset management, while trading the virtual currency is not a banking or financial-instrument transaction. But, generally speaking, bitcoin could be taxable if it meets certain conditions of income, corporate or consumption tax laws, the statement says. This leaves open the possibility that bitcoin could be treated as a commodity like gold, although the statement does not specify this. Story continues Regarding money laundering, certain transactions - whether with bitcoin or not - require people to identify themselves, it notes. The 6-page document is the government's official response to questions posed by Tsutomu Okubo, a member of the opposition Democratic Party of Japan and former managing director at Morgan Stanley. (Additional reporting by Hitoshi Ishida, Kazuhiko Tamaki and Stanley White; Editing by Ian Geoghegan) |
1,394,182,238 | 2014-03-07 08:50:38+00:00 | {"Bitcoin": [712]} | {} | A week after Mt. Gox collapse, Japan struggles to understand bitcoin | https://finance.yahoo.com/news/japan-finmin-unsure-part-govt-001848390.html | Reuters | https://www.reuters.com/ | By William Mallard TOKYO (Reuters) - A week after the collapse of Mt. Gox, Japan is still struggling to craft a response to the bitcoin phenomenon, saying the crypto-currency is not legal tender, though it might be taxable and subject to money-laundering controls. In its first detailed response to the bankruptcy of the Tokyo-based company, once the world's biggest bitcoin exchange, the government issued a statement assessing how bitcoin is covered - or more often, not covered - by existing law. The issue took on new prominence in Japan on February 28, when Mt. Gox sought Chapter 11-style bankruptcy protection, saying it had lost bitcoins and cash worth some half a billion dollars due to hacker attacks. Bitcoin is not a currency, but could be taxable under some circumstances, the statement says. Although the government understands that bitcoin is not issued or backed by any government or central bank, "we have not grasped the situation in its entirety." The authorities are monitoring the Mt. Gox bankruptcy process and, if necessary, will consider a response, said Chief Cabinet Secretary Yoshihide Suga. Fewer than 1 percent of Mt. Gox's 127,000 creditors are Japanese, the company has said. Yet across the government, officials are wrestling with how to handle bitcoin. "It's not money," said Finance Minister Taro Aso. "Does the Financial Services Agency have jurisdiction? The Finance Ministry? The Consumer Affairs Agency? The Ministry of Economy, Trade and Industry?" he asked at a regular news conference. "Opinions are divided." The government statement, citing 18 sections of 11 laws and regulations, says bitcoin is not a currency or an asset within the purview of professional trading or asset management, while trading the virtual currency is not a banking or financial-instrument transaction. But, generally speaking, bitcoin could be taxable if it meets certain conditions of income, corporate or consumption tax laws, the statement says. This leaves open the possibility that bitcoin could be treated as a commodity like gold, although the statement does not specify this. Story continues Regarding money laundering, certain transactions - whether with bitcoin or not - require people to identify themselves, it notes. The 6-page document is the government's official response to questions posed by Tsutomu Okubo, a member of the opposition Democratic Party of Japan and former managing director at Morgan Stanley. (Additional reporting by Hitoshi Ishida, Kazuhiko Tamaki and Stanley White; Editing by Ian Geoghegan) |
1,394,194,380 | 2014-03-07 12:13:00+00:00 | {"Bitcoin": [898, 1360]} | {} | 10 Things You Need To Know This Morning | https://finance.yahoo.com/news/10-things-know-opening-bell-121350304.html | Business Insider | http://www.businessinsider.com/ | satoshi REUTERS/ David McNew Is this the man behind the coin? Good morning! Here's what you need to know. It's jobs day in America . The monthly report will come out at 8:30 a.m. ET . Economists estimate that U.S. companies added 149,000 to nonfarm payrolls in February, up from the prior print of 113,000, and that the unemployment rate stayed unchanged at 6.6%. "T he market appears to be set up for a weak number, and a disappointing report will be taken with a grain of salt," said TD Securities' Millan Mulraine. " Hiring in February looks unlikely to have snapped the recent slowdown," said Wells Fargo's John Silvia . "Another winter storm hit the Southeast and Northeast during the survey week, which is likely to have curtailed hiring over the period." Will the real Satoshi Nakamoto please stand up? Yesterday, Newsweek dropped a bombshell report outing Satoshi Nakamoto , the creator of Bitcoin, the prominent digital crypto-currency. According to Newsweek's Leah McGrath Goodman, Satoshi Nakamoto is 64-year-old Japanese American man living outside Los Angeles. His name is indeed Satoshi Nakamoto, once thought to be a pseudonym. Later in the afternoon, Nakomoto emerged from his house — which was surrounded by reporters — to have lunch with a journalist from the AP. The AP's story conflicted Goodman's account . Nakamoto had nothing to do with Bitcoin and had never even heard of it before his son was contacted by Newsweek three weeks ago, he told the AP. Newsweek stood by it story. Everyone is still confused. Bill Gross vs. Mohamed El-Erian . Things got feistier between the two former PIMCO colleagues — Gross still heads the bond fund while El-Erian just had a high-profile exit — after Gross told Reuters that El-Erian is trying to "undermine" him in the press. Gross said that El-Erian "wrote" a damning account in the Wall Street Journal himself. And when Reuters pushed back on that assertion, Gross accused the news organization of also favoring El-Erian. Gross also suggested that he had been monitoring El-Erian's phone calls. Then PIMCO said the Reuters article was wrong. Story continues Putin brushes off the west . The Russian president spoke with President Obama over the Russian incursion into Crimea . He said that "Russia cannot ignore calls for help and it acts accordingly, in full compliance with international law." Also, Russian parliament will support the region's bid to join Russia , the speaker said. We'll get trade balance data at 8:30 a.m . Economists think the trade deficit widened to $38.5 billion in January. "We anticipate a widening of the trade deficit in January due to a pickup in imports," wrote Citi's Peter D'Antonio. "January is a month when imports typically decline, yet customs duties increased in the month, suggesting a sizable rise in the seasonally adjusted figure. Our forecast actually includes a pullback in oil imports reflecting a decline in price." At 3:00 p.m., consumer credit will be released . Economists predict consumer credit balances expanded by $14 billion in January. "After rising by $18.8bn in December, we forecast that total US consumer credit outstanding rose by $13.0bn in January," wrote Barclays' economists. "As has been the case in the past few years, this would largely reflect steady growth in the nonrevolving component, specifically in federal student loans; over the course of 2013, nonrevolving credit rose by over $165bn, while revolving credit increased only $16bn." Global markets were mixed in overnight trading . Japan's Nikkei climbed 0.92% and Korea's KOSPI fell 0.05%. European markets were broadly lower, with Germany the most off the mark. U.S. futures were roughly flat. German manufacturing lights up . Industrial orders in the country jumped 1.2% in January , double the forecast from economists. "Industrial orders started the new year well, despite a small volume of big-ticket orders... The strongest momentum is coming from abroad, from both within and outside the euro zone. Domestic demand is also developing positively, at a slightly more modest pace," the economy ministry said in a statement. Finra strips red flags on its brokers . A new WSJ report from Jean Eaglesham and Rob Barry shows that the Wall Street regulator "routinely" removes red flags on brokers from its database. Investors can look up brokers on a Finra database, but according to the Public Investors Arbitration Bar Association, the regulator was " scrubbing potential black marks from the information it provided to investors," the Journal reports. China sees its first domestic corporate bond default . S olar-equipment maker Shanghai Chaori Solar Energy Science and Technology Company did not meet interest payments on a bond , becoming the first Chinese company to default on a bond traded in the mainland, the WSJ reports. "Defaults of some debt products are not on a similar scale to a collapse of a major financial institution," P atrick Chovanec at Silvercrest Asset Management told Business Insider in January . "As we think corporate bonds and incoming trust loan defaults will not lead to a credit crunch, and we are reasonably confident with our 7.6% GDP growth forecast for this year." More From Business Insider 5 Questions For Economist Jim O'Sullivan 10 Things You Need To Know This Morning 5 Questions For Market Strategist Jeffrey Kleintop |
1,394,195,863 | 2014-03-07 12:37:43+00:00 | {"Bitcoin": [1288]} | {} | AP Exclusive: Man said to create bitcoin denies it | https://finance.yahoo.com/news/finance.yahoo.com/news/ap-exclusive-man-said-create-054633914.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) -- Dorian Prentice Satoshi Nakamoto said Thursday that he is not the creator of bitcoin, adding further mystery to the story of how the world's most popular digital currency came to be. The denial came after Newsweek published a 4,500-word cover story claiming Nakamoto is the person who wrote the computer code underpinnings of bitcoin. In an exclusive two-hour interview with The Associated Press, Nakamoto, 64, denied he had anything to do with it and said he had never heard of bitcoin until his son told him he had been contacted by a Newsweek reporter three weeks ago. Nakamoto acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor, and that his given name at birth was Satoshi. But he strongly disputed the magazine's assertion that he is "the face behind bitcoin." "I got nothing to do with it," he said, repeatedly. Newsweek stands by its story, which kicked off the relaunch of its print edition after 15 months and reorganization under new ownership. Since bitcoin's birth in 2009, the currency's creator has remained a mystery. The person — or people — behind the digital currency's inception have been known only as "Satoshi Nakamoto," which many observers believed to be a pseudonym. Bitcoin has become increasingly popular among tech enthusiasts, libertarians and risk-seeking investors because it allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. Criminals like bitcoin for the same reasons. For various technical reasons, it's hard to know just how many people worldwide own bitcoins, but the currency attracted outsize media attention and the fascination of millions as an increasing number of large retailers such as Overstock.com began to accept it. Speculative investors have jumped into the bitcoin fray, too, sending the currency's value fluctuating wildly in recent months. In December, the value of a single bitcoin hit an all-time high of $1,200. It was around $665 on Thursday, according to the website bitcoincharts.com. Bloggers have speculated that bitcoin's creator is worth hundreds of millions of dollars in bitcoin. Story continues After Newsweek posted the story on its website early Thursday, Nakamoto said his home was bombarded by phone calls. By mid-morning, a dozen reporters were waiting outside the modest two-story home on the residential street in Temple City, Calif., where he lives. He emerged shortly after noon saying he wanted to speak with one reporter only and asked for a "free lunch." During a car ride and then later over sushi lunch at the AP bureau in downtown Los Angeles, Nakamoto spoke at length about his life, career and family, addressing many of the assertions in Newsweek's piece. He also said a key portion of the piece — where he is quoted telling the reporter on his doorstep before two police officers, "I am no longer involved in that and I cannot discuss it" — was misunderstood. Nakamoto said he is a native of Beppu, Japan who came to the U.S. as a child in 1959. He speaks both English and Japanese, but his English isn't flawless. Asked if he said the quote, Nakamoto responded, "no." "I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied." "It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said. Newsweek writer Leah McGrath Goodman, who spent two months researching the story, told the AP: "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation —and his acknowledgment of his involvement in bitcoin." The magazine pulled together its thesis on the creator's identity by matching Nakamoto's name, educational history, career, anti-government bent and writing style to the alleged creator of bitcoin. It also quoted Nakamoto's estranged wife and other family members who said they weren't sure he is the creator. Several times during the interview with AP, Nakamoto mistakenly referred to the currency as "bitcom," and as a single company, which it is not. He said he's never heard of Gavin Andresen, a leading bitcoin developer who told Newsweek he'd worked closely with the person or entity known as "Satoshi Nakamoto" in developing the system, but that they never met in person or spoke on the phone. When shown the original bitcoin proposal that Newsweek linked to in its story, Nakamoto said he didn't write it, and said the email address in the document wasn't his. "Peer-to-peer can be anything," he said. "That's just a matter of address. What the hell? It doesn't make sense to me." Asked if he was technically able to come up with the idea for bitcoin, Nakamoto responded: "Capability? Yes, but any programmer could do that." The nearest Nakamoto has come to working on a financial system, he said, was a project for Citibank with a company called Quotron, which provided real-time stock prices to brokerage firms. Nakamoto said he worked on the software side for about four years starting in 1987. "That had nothing to do with skipping financial institutions," he said. Nakamoto said he believes someone either came up with the name or specifically targeted him to be the fall guy for the currency's creation. He also said he doesn't discuss his career because in many cases, his work was confidential. When he was employed by Hughes Aircraft starting around 1973, he worked on missile systems for the U.S. Navy and Air Force. He said he also worked for the Federal Aviation Administration starting around 1999, but was laid off following the Sept. 11, 2001 attacks. Getting hired by a military contractor was the reason he applied for and received American citizenship. He decided around that time to change his name, adding "Dorian Prentice" to Satoshi Nakamoto, partly to sound more Western. He said he picked "Dorian" because he says it meant "a man of simplicity" and referred to the ancient Greek people. "Prentice" alluded to his affinity for learning, he said. As he pored over the Newsweek story with a reporter, Nakamoto repeatedly said "oh jeez," as he read private details about himself, quotes from family members and even specifics from his medical history. "How long is this media hoopla going to last?" he said. |
1,394,195,863 | 2014-03-07 12:37:43+00:00 | {"Bitcoin": [1288]} | {} | AP Exclusive: Man said to create bitcoin denies it | https://finance.yahoo.com/news/ap-exclusive-man-said-create-054633914.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) -- Dorian Prentice Satoshi Nakamoto said Thursday that he is not the creator of bitcoin, adding further mystery to the story of how the world's most popular digital currency came to be. The denial came after Newsweek published a 4,500-word cover story claiming Nakamoto is the person who wrote the computer code underpinnings of bitcoin. In an exclusive two-hour interview with The Associated Press, Nakamoto, 64, denied he had anything to do with it and said he had never heard of bitcoin until his son told him he had been contacted by a Newsweek reporter three weeks ago. Nakamoto acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor, and that his given name at birth was Satoshi. But he strongly disputed the magazine's assertion that he is "the face behind bitcoin." "I got nothing to do with it," he said, repeatedly. Newsweek stands by its story, which kicked off the relaunch of its print edition after 15 months and reorganization under new ownership. Since bitcoin's birth in 2009, the currency's creator has remained a mystery. The person or people behind the digital currency's inception have been known only as "Satoshi Nakamoto," which many observers believed to be a pseudonym. Bitcoin has become increasingly popular among tech enthusiasts, libertarians and risk-seeking investors because it allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. Criminals like bitcoin for the same reasons. For various technical reasons, it's hard to know just how many people worldwide own bitcoins, but the currency attracted outsize media attention and the fascination of millions as an increasing number of large retailers such as Overstock.com began to accept it. Speculative investors have jumped into the bitcoin fray, too, sending the currency's value fluctuating wildly in recent months. In December, the value of a single bitcoin hit an all-time high of $1,200. It was around $665 on Thursday, according to the website bitcoincharts.com. Bloggers have speculated that bitcoin's creator is worth hundreds of millions of dollars in bitcoin. Story continues After Newsweek posted the story on its website early Thursday, Nakamoto said his home was bombarded by phone calls. By mid-morning, a dozen reporters were waiting outside the modest two-story home on the residential street in Temple City, Calif., where he lives. He emerged shortly after noon saying he wanted to speak with one reporter only and asked for a "free lunch." During a car ride and then later over sushi lunch at the AP bureau in downtown Los Angeles, Nakamoto spoke at length about his life, career and family, addressing many of the assertions in Newsweek's piece. He also said a key portion of the piece where he is quoted telling the reporter on his doorstep before two police officers, "I am no longer involved in that and I cannot discuss it" was misunderstood. Nakamoto said he is a native of Beppu, Japan who came to the U.S. as a child in 1959. He speaks both English and Japanese, but his English isn't flawless. Asked if he said the quote, Nakamoto responded, "no." "I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied." "It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said. Newsweek writer Leah McGrath Goodman, who spent two months researching the story, told the AP: "I stand completely by my exchange with Mr. Nakamoto. There was no confusion whatsoever about the context of our conversation and his acknowledgment of his involvement in bitcoin." The magazine pulled together its thesis on the creator's identity by matching Nakamoto's name, educational history, career, anti-government bent and writing style to the alleged creator of bitcoin. It also quoted Nakamoto's estranged wife and other family members who said they weren't sure he is the creator. Several times during the interview with AP, Nakamoto mistakenly referred to the currency as "bitcom," and as a single company, which it is not. He said he's never heard of Gavin Andresen, a leading bitcoin developer who told Newsweek he'd worked closely with the person or entity known as "Satoshi Nakamoto" in developing the system, but that they never met in person or spoke on the phone. When shown the original bitcoin proposal that Newsweek linked to in its story, Nakamoto said he didn't write it, and said the email address in the document wasn't his. "Peer-to-peer can be anything," he said. "That's just a matter of address. What the hell? It doesn't make sense to me." Asked if he was technically able to come up with the idea for bitcoin, Nakamoto responded: "Capability? Yes, but any programmer could do that." The nearest Nakamoto has come to working on a financial system, he said, was a project for Citibank with a company called Quotron, which provided real-time stock prices to brokerage firms. Nakamoto said he worked on the software side for about four years starting in 1987. "That had nothing to do with skipping financial institutions," he said. Nakamoto said he believes someone either came up with the name or specifically targeted him to be the fall guy for the currency's creation. He also said he doesn't discuss his career because in many cases, his work was confidential. When he was employed by Hughes Aircraft starting around 1973, he worked on missile systems for the U.S. Navy and Air Force. He said he also worked for the Federal Aviation Administration starting around 1999, but was laid off following the Sept. 11, 2001 attacks. Getting hired by a military contractor was the reason he applied for and received American citizenship. He decided around that time to change his name, adding "Dorian Prentice" to Satoshi Nakamoto, partly to sound more Western. He said he picked "Dorian" because he says it meant "a man of simplicity" and referred to the ancient Greek people. "Prentice" alluded to his affinity for learning, he said. As he pored over the Newsweek story with a reporter, Nakamoto repeatedly said "oh jeez," as he read private details about himself, quotes from family members and even specifics from his medical history. "How long is this media hoopla going to last?" he said. |
1,394,200,800 | 2014-03-07 14:00:00+00:00 | {"Bitcoin": [49, 484, 504, 645, 734, 838, 929, 2040]} | {"Bitcoin": [0]} | Bitcoin Shop CEO Charles Allen Interviewed Live on Bloomberg's Street Smart | https://finance.yahoo.com/news/bitcoin-shop-ceo-charles-allen-140000550.html | Marketwired | http://www.marketwired.com/ | SILVER SPRING, MD--(Marketwired - Mar 7, 2014) - Bitcoin Shop, Inc. ( OTCQB : BTCS ), the virtual currency ecommerce marketplace www.bitcoinshop.us , today announced that Charles Allen, Chief Executive Officer, conducted a live interview on Bloomberg's Street Smart at approximately 3:00 PM EST on Thursday, March 6, 2014. Bloomberg Street Smart Video Interview Replay: http://www.bloomberg.com/video/who-is-alleged-bitcoin-founder-dorian-s-nakamoto-ac9q3e2pQti526nW~lrigQ.html About Bitcoin Shop, Inc.: Bitcoin Shop, Inc. operates an ecommerce website ( www.bitcoinshop.us ) where consumers can purchase products using virtual currency such as Bitcoin, by searching through a selection of over 400 categories and over 140,000 items. Bitcoin is a digital or virtual currency that uses peer-to-peer network to facilitate instant payments. Bitcoin is categorized as a cryptocurrency, as it uses cryptography as a security measure. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make verified transfers. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its Bitcoin business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. |
1,394,205,268 | 2014-03-07 15:14:28+00:00 | {"Bitcoin": [3475]} | {} | Mid-Morning Market Update: Markets Mixed; Big Lots Earnings Beat Street View | https://finance.yahoo.com/news/mid-morning-market-markets-mixed-151428923.html | Benzinga | http://www.benzinga.com/ | Following the market opening Friday, the Dow traded up 0.23 percent to 16,459.53 while the NASDAQ tumbled 0.41 percent to 4,334.13. The S&P also rose, surging 0.03 percent to 1,877.61. Leading and Lagging Sectors Energy stocks gained Friday, with Alon USA Energy (NYSE: ALJ ) leading advancers after the company reported upbeat quarterly earnings. Meanwhile, top gainers in the sector included FuelCell Energy (NASDAQ: FCEL ), with shares up 4.7 percent, and Callon Petroleum Company (NYSE: CPE ), with shares up 4.6 percent. In trading on Friday, basic materials shares were relative laggards, down on the day by about 1.15 percent. Among the sector stocks, Endeavour Silver (NYSE: EXK ) was down more than 3.3 percent, while Southern Copper (NYSE: SCCO ) tumbled around 4 percent. Top Headline Big Lots (NYSE: BIG ) reported better-than-expected fourth-quarter earnings. For the new fiscal year, Big Lots expects earnings from continuing operations of $2.25 to $2.45 per share, versus analysts' estimates of $2.44 per share. Big Lots posted its quarterly profit of $84.4 million, or $1.45 per share, versus a year-ago profit of $120.3 million, or $2.09 per share. Analysts were expecting earnings of $1.40 per share. Its revenue slipped 6.2% to $1.64 billion, versus analysts' expectations for $1.61 billion. Big Lots' gross margin declined to 38.2% from 39.7%. Equities Trading UP Korn/Ferry International (NYSE: KFY ) shot up 9.95 percent to $28.40 as the company reported better-than-expected Q3 results. Shares of Big Lots (NYSE: BIG ) got a boost, shooting up 21.23 percent to $35.46 after the company reported upbeat quarterly results and announced the promotion of Timothy A. Johnson to Executive Vice President, Chief Financial Officer. Foot Locker (NYSE: FL ) was also up, gaining 6.88 percent to $45.67 as the company announced better-than-expected Q4 results. Equities Trading DOWN Shares of Analogic (NASDAQ: ALOG ) were down 15.07 percent to $82.01 after the company reported downbeat Q2 earnings. CJS Securities downgraded the stock from Market Outperform to Market Perform and cut the price target from $97.00 to $90.00. Progress Software (NASDAQ: PRGS ) shares tumbled 11.35 percent to $22.50 after the company issued a weak Q1 forecast. 21Vianet Group (NASDAQ: VNET ) was down, falling 7.22 percent to $25.66 on Q4 results. Commodities In commodity news, oil traded up 0.47 percent to $102.04, while gold traded down 1.28 percent to $1,334.50. Silver traded down 3.33 percent Friday to $20.86, while copper fell 3.22 percent to $3.11. Eurozone European shares were mixed today. Story continues The Spanish Ibex Index rose 0.10 percent, while Italy's FTSE MIB Index surged 0.10 percent. Meanwhile, the German DAX dropped 0.26 percent and the French CAC 40 declined 0.02 percent while U.K. shares fell 0.01 percent. Economics The US economy added 175,000 jobs in February, while the unemployment rate climbed to 6.7% versus 6.6%. However, economists were estimating an addition of 149,000 nonfarm jobs in the month. The US trade deficit widened to $39.1 billion in January, versus a revised $39 billion in December. However, economists were expecting a deficit of $39.7 billion. The country's imports climbed by 0.6%, while exports also increased by 0.6% in the month. Data on consumer credit for January will be released at 3:00 p.m. ET. Related Links Stocks Hitting 52-Week Highs Apple Plans To Pair Devices Via Fingerprint Scans Will The Real Inventor Of Bitcoin Please Step Forward? © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments |
1,394,223,983 | 2014-03-07 20:26:23+00:00 | {"Bitcoin": [2374]} | {} | 3 Of Many Reasons To Buy Stocks 'When You Have the Money' | https://finance.yahoo.com/news/3-many-reasons-buy-stocks-202623299.html | Benzinga | http://www.benzinga.com/ | When asked when you should buy stocks, billionaire investor Shelby Davis would always reply, "When you have the money!" With the S&P's 500 Index at a record high, many are warning that a decline is due. That might happen, or it might not. It's often better to invest in the collective knowledge and efforts of business leaders and others who are striving for growth. Warren Buffett wrote about this best at the nadir of The Great Recession in a New York Times op-ed, " Buy American. I am ." In that Oct. 16, 2008 piece, Buffett encouraged buying stocks as,"Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497." With so many smart, talented people working at publicly-traded companies, it is inevitable that, "Over the long term, the stock market news will be good." Your investments should always pay you to be the owner. Related: 3 Reasons To Be Bullish About Luxury Brand Stocks If an investment is not kicking off money, than owning it is speculating. After all, investing is the act of buying the future income stream of an asset. There is no better holding for doing that than a stock that pays dividends. Ones such as Coca-Cola (NYSE: KO ), ExxonMobil (NYSE: XOM ) and Wal-Mart (NYSE: WMT ) are known as "Dividend Aristocrats" -- as each has increased the amount of its dividend annually for at least the past 25 years. Is it any wonder that Warren Buffett is a major shareholder of Coca-Cola, ExxonMobil and WalMart? It is impossible to time the market, so don't even try! It is far better to continually buy stocks rather than wait for a decline to buy at a cheaper price. The longer you own a stock, the greater the rewards. As an example, Dividend Aristocrats increase the amount of the dividend annually. Therefore, the shareholders make more in dividend income the longer they own the stock. As for those who try to time the market, Buffett wrote about that too in his New York Times piece. Story continues "The hapless ones bought stocks only when they felt comfort in doing so," he said, "and then proceeded to sell when the headlines made them queasy." Related Links Bitcoin's False Founder Could Receive Huge Cash Windfall Technicals and Fundamentals Agree: Nat Gas Should Move Higher Playboy To Pay Record-Setting Sum In Whistleblower Suit © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
1,394,225,340 | 2014-03-07 20:49:00+00:00 | {"Bitcoin": [1481, 1965, 2068, 2498]} | {} | 5 Sizzling Silicon Beach Startups to Watch | https://finance.yahoo.com/news/5-sizzling-silicon-beach-startups-204900000.html | Entrepreneur | http://www.entrepreneur.com/ | Los Angeles rising tech startup scene is blowing up beyond Silicon Beach. Once little more than an over-hyped nickname, Silicon Beach now sprawls outside of coastal Santa Monica and Venice deep into downtown L.A., Hollywood, Culver City and as far north as Pasadena. Startup Genome recently ranked the area third among the worlds leading startup ecosystems, behind Silicon Valley and Tel Aviv. More and more tech startups are flocking to Tinseltown and the surrounding areas, not unlike aspiring actors hoping to snag their big break in the biz. Some fizzle out like one-hit wonders. Others explode into overnight viral hits, like Snapchat and Tinder . Related: Spreading the Love of Silicon Valley (Infographic) Even tech colossi like Facebook and Google set up shop beneath our blazing sun and trademark palms. But its the fledgling startups, the wannabe big apps and e-tailers, driving Silicon Beachs exponential growth. The areas 18 or so startup accelerators and 30-plus incubators can also take a hefty slice of the credit. Here are five startups burning up the Silicon Beach scene right now: 1. GoCoin Singapore and Santa Monica-based GoCoin is seriously making bank in the fast-growing digital currency payments industry. So much so that it's taking over the entire 7,000-square-foot third floor of Santa Monicas historic landmark Keller Block Building. The ambitious international virtual currency payment transaction service, which bills itself as the PayPal of Bitcoin, signed a multi-year office lease just this week. Not bad, considering that CEO Steve Beauregard got GoCoin off the ground less than a year ago, in July 2013. Only four months later, the company announced that it raised a seed round of more than $550,000 -- including cash from former Amazon and Facebook exec Owen Van Natta -- to help it become the first truly open and international platform to facilitation the purchase of goods and services across the world bought with Bitcoin. Story continues GoCoin also claims to be the first company to accept Litecoin , a spinoff of Bitcoin, worlds first peer-to-peer cryptocurrency. Related: Tech All Stars Rub Elbows With Investment-Hungry Startups at OASIS Summit in Santa Monica 2. BloomNation BloomNation , a Beverly Hills-based Etsy-style fresh flowers e-tailer, works with 2,000 florists to deliver locally sourced hand-picked blooms to some 3,000 cities across the U.S. The progressive Silicon Beach service claims to be the first ever florist to accept Bitcoin payments. Founded by David Daneshgar, Farbod Shoraka and Gregg Weisstein in 2011, the startup directly connects customers with local florists who showcase their unique specialty floral arrangements within Bloom Nations gorgeous, Pinterest-like online marketplace. The images the florists upload have to be their own shots that theyve taken themselves. Stock and catalog images dont make the cut. Daneshgar, a former World Series of Poker champion, scored the companys initial seed funding, when he took all at a Los Angeles poker tournament. The money funded the beta launch of BloomNation, which has now raised some $1.65 million in seed funding from Andreessen Horowitz, CrunchFund, Spark Capital and Chicago Ventures. 3. Vow to be Chic Vow to be Chic founder Kelsey Doorey is always a bridesmaid. Shes played the role six times, to be exact. The UCLA Anderson School of Management graduate knows what it's like to blow a ton of cash on one-time-wear wedding apparel, so she created an online bridesmaid dress rental service that lets ladies get dressed for the best friends big day for a fraction of the usual cost, without sacrificing style. Bridal parties shop Vow to be Chic together to find the right designer dresses, which affordably range from $95 to $125. Doorey launched the Santa Monica-based online rental business in April 2013, only a month after clinching first place -- and some $17,000 in venture capital -- in UCLAs Knapp Venture startup competition . Vow to be Chic, along with marketing automation firm Bridg , a fellow Silicon Beach upstart, was one of three finalists to compete in yesterdays Oasis Summit Shark Tank-style startup Moneyball competition. Palo Alto, Calif.-based Deep Forest Media captured won the contest and, eventually, all the venture capital cash spoils, too. Related: Mike Jones on Ditching La La Land For Silicon Beach 4. TigerText This Santa Monica-based hopeful wants to secure your text messages with industrial grade encryption. TigerText is a multi-platform (Android, iPhone, iPad, iPod touch, Mac or PC) real-time messaging enterprise application specifically designed to let coworkers securely text and share photos with each other. TigerText users can also securely send cloud storage files from Google, Box and Dropbox. Like Snapchat, TigerText messages, which comply with industry-specific privacy regulations like HIPPA and SOX, self-destruct after a user-determined preset period of time. The company was co-founded in 2011 in by Brad Brooks, the brain behind the anonymous secret-sharing Whisper app, his orthopedic surgeon brother Andrew Brooks and tech entrepreneur Jeffrey Evans, now of Buskin Entertainment . 5. Whisper TigerTexts Brad Brooks launched Whisper , a controversial gossip- and secret-sharing app, with his childhood friend and neighbor Michael Heyword in March 2012. The app is a lot like its scandalous successor Secret , lets users anonymously spill revealing confessions about their work and private lives, or whatever else they cant hold back. Whisper whisperers can post, share, and heart (like) tawdry, freeing gems like My patient is being a totally *itch, so I just faked giving her pain medication. and Yesterday was my first day working for Starbucks and last night I slept with a coworker. Theres no way to know if they are real or made up, but its fun to guess and wonder. And apparently 18- to 24-year olds like spilling their guts on Whisper a heck of a lot -- 3.5 billion page views per month a lot. The company says their spending an average of 25 minutes per day using the free iOS and Android app. Last September Whisper raised $21 million in a funding round led by Sequoia Capital. More From Entrepreneur Pebble (Finally) Opens Its App Store to Android Users Disney Interactive Lays Off 700 Employees Inventor of the Cronut Reveals His Latest Creation |
1,394,226,228 | 2014-03-07 21:03:48+00:00 | {"Bitcoin": [354, 464, 585, 1313, 2014, 2113, 2541, 3163, 3676, 3859, 4010, 4137, 4210, 4451, 4609, 5065, 5396, 5452]} | {"Bitcoin": [58]} | Just the FAQs: What Does Satoshi Nakamoto Have to Do with Bitcoin, and Why Should You Care? | https://finance.yahoo.com/news/just-the-faqs-what-does-satoshi-nakamoto-have-to-do-78867446002.html | Yahoo Tech | https://www.yahoo.com/tech/ | Were teetering on the brink of World War III in the Ukraine, a cure for the AIDS virus may be at hand and Lindsay Lohan is lurching toward another comeback. But yesterday a far more exciting story was unfolding on the interwebs. Someone had located Satoshi Nakamoto. Source: Reuters Who the heck is Satoshi Nakamoto? Satoshi Nakamoto is the inventor of Bitcoin, a virtual currency created in 2009 that has generated a fair share of controversy. (For more on what Bitcoin is and does, see this fine post by Yahoo Techs Rob Pegoraro .) Based on sophisticated cryptographic algorithms, Bitcoin is popular among people who hate government-run currencies and banks, most notably (but not exclusively) ultra-libertarians and cyber-criminals. For years Nakamoto toiled in complete obscurity. So complete, in fact, that many questioned whether he was an actual person, someone acting under a pseudonym or an anonymous collective. Nakamoto has never appeared in public and was last heard from in 2009. Until yesterday, that is. What happened yesterday? Newsweek published an exposé claiming to have located the math genius behind the currency. According to Newsweek, hes a 64-year-old retired engineer living in Southern California with his mother. He likes to play with model trains. Given the current market value of Bitcoin, he would also be worth in excess of $400 million. Along with his name, Newsweek published the city where he lives and photos of him, his house and his car. That was enough to send a gaggle of reporters to Nakamotos home yesterday, resulting in a semi-comical chase through the streets of Los Angeles, documented on Twitter by Los Angeles Times reporter Joe Bel Bruno , as Nakamoto drove off with an Associated Press reporter to get some sushi. So whats the big deal? Its maybe not so big. This Satoshi Nakamoto, who goes by the first name Dorian, may not be the Satoshi Nakamoto. The man collared by Newsweek financial reporter Leah McGrath Goodman steadfastly denies hes the inventor of Bitcoin . In an interview with AP reporter Ryan Nakashima , Nakamoto said hed never even heard of Bitcoin until three weeks ago, after his son told him hed been contacted by Newsweek. He repeatedly called it bitcom throughout the two-hour interview. Story continues Adding further fuel to the fires of skepticism, a person using the name Satoshi Nakamoto logged onto the P2P (peer-to-peer) Foundation forum yesterday to announce that Dorian Nakamoto is not him. The P2P Foundation is where the first paper describing how Bitcoin works was posted in 2009. The administrator of that forum verified that both the paper and the reply yesterday were posted from the same account. There are only two possibilities: Either Newsweek got it dead wrong, or this man is Keyser Söze . It is possible someone smart enough to create a currency with a total market value of $8 billion at press time is also smart enough to play dumb for reporters. But the first option seems more likely. Why did Newsweek run this story if it was so shaky? Good question. The whole story seems to hinge on an ambiguous response Nakamoto made to the reporters question about Bitcoin. I am no longer involved in that and I cannot discuss it, he says, dismissing all further queries with a swat of his left hand. Its been turned over to other people. They are in charge of it now. I no longer have any connection. Afterward, Nakamoto told AP he misunderstood the question. He thought it was referring to his background as an engineer, part of which was spent working on classified projects for the U.S. government. Does it really matter who Nakamoto is? Thats the question, isnt it? Bitcoin is extremely controversial. Its value has fluctuated wildly over time, reaching a high of nearly $1,200 per coin in December. (It is now trading at a bit over $600 .) A major Bitcoin exchange, Mt. Gox in Japan, closed last month after announcing that it had been hacked, costing investors tens of millions of dollars. Another Bitcoin bank, Flexcoin, shut down earlier this week for similar reasons, a loss of $600,000. The 28-year-old American CEO of a Bitcoin bank in Singapore was found dead yesterday , a possible suicide. Bitcoin was also the currency of choice for Silk Road, an online drug bazaar that was shut down last fall by the feds , re-emerged in a new form and then got hacked last month to the tune of $2.7 million . Because its entirely unregulated, Bitcoin also lacks government protections against losses if a bank collapses. So investors are basically screwed. The problem is really about perception. Was Bitcoin the uber-hobby of a reclusive engineer living in his mothers basement? Or is it the product of a team of financial revolutionaries out to topple the worlds banking system? Is it a tool created by black marketeers or the NSA to manipulate the planets economy? Conspiracy theories abound , and they all center around the identity of the mysterious Nakamoto. When it comes to currencies, perception is everything. Would you be more likely to trust Bitcoin knowing it was the work of one person intent on making online transactions more efficient? What if it was the product of a secret cabal that intended to drive up the price via speculation and then dump it, causing massive losses for everyone else? Others say that, at this stage of the game, it doesnt matter who invented Bitcoin . What matters is how we deal with it, now that Bitcoin has changed the way we conduct business, on and off the web. Whats next for Dorian Nakamoto? After having his life turned upside-down for 24 hours, Nakamoto should be able to go back to a quiet life filled with model trains. Unless, of course, he decides to sue Newsweek (which is standing by its story), or he really is Keyser Söze. But at least he got a free sushi meal out of it. Questions, complaints, kudos? Email Dan Tynan at [email protected] . You can follow Yahoo Tech on Facebook for all the latest. |
1,394,239,792 | 2014-03-08 00:49:52+00:00 | {"Bitcoin": [115, 2469]} | {} | LA Sheriff backs Newsweek quotes of Nakamoto visit | https://finance.yahoo.com/news/la-sheriff-backs-newsweek-quotes-224846294.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) -- Two Los Angeles County Sheriff's deputies described in Newsweek's story about "the face behind Bitcoin" say the quotes attributed to Dorian Nakamoto and a deputy in the story are accurate. Since the digital currency's inception, bitcoin's creator has been known only as "Satoshi Nakamoto," which many observers have believed to be a pseudonym for one or more people. Newsweek published a cover story this week claiming that Dorian Nakamoto, a 64-year-old former defense contractor employee, is the author of the computer code underpinnings of bitcoin. The story includes an exchange between Nakamoto, who was born in Japan but grew up in the U.S. and now resides in Temple City, Calif., and the Newsweek reporter in the presence of police deputies who had been called to Nakamoto's home. It quoted Nakamoto as telling the reporter, "I am no longer involved in that and I cannot discuss it." Nakamoto has not disputed that quote, but said in an interview Thursday with The Associated Press that the Newsweek reporter misunderstood him. "I'm saying I'm no longer in engineering. That's it," he said of the exchange. "And even if I was, when we get hired, you have to sign this document, contract saying you will not reveal anything we divulge during and after employment. So that's what I implied. It sounded like I was involved before with bitcoin and looked like I'm not involved now. That's not what I meant. I want to clarify that," he said Thursday. L.A. County Sheriff's Department Captain Mike Parker said Friday that he talked with both deputies who responded to the Feb. 20, 2014, suspicious person call at Nakamoto's home in Temple City. Parker says the deputies spoke with Nakamoto and a woman who identified herself as Newsweek reporter Leah Goodman, and Nakamoto expressed reluctance to talk to her. The deputies were present for their brief conversation and then Nakamoto re-entered his home and Goodman left. "They had a dialogue, the deputies stood there and they were there while the two people were working things out," said Parker. "The gentleman didn't want to participate. He said enough for those quotes to be made and that was pretty much a wrap." Story continues Parker added that the deputy quoted in the story didn't know about the mystery behind bitcoin's creator prior to the call. After the reporter explained more about who she believed Nakamoto to be, that's when the deputy made the quote, "This is the guy who created Bitcoin? It looks like he's living a pretty humble life." Nakamoto has acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor. He was employed by Hughes Aircraft starting around 1973, working on missile systems for the U.S. Navy and Air Force, and also worked for the Federal Aviation Administration starting around 1999, but was laid off following the Sept. 11, 2001 attacks. He admits that his given name at birth was Satoshi, but he maintains that he is not bitcoin's creator. Since Newsweek published its story Thursday, media have been a presence outside Nakamoto's home. Parker said deputies have continued to check on Nakamoto every few hours since the story broke to ensure his security. ___ Tami Abdollah can be reached at http://www.twitter.com/latams |
1,394,242,660 | 2014-03-08 01:37:40+00:00 | {"Bitcoin": [1172, 2071, 2395, 2824, 3232, 4114, 4999]} | {} | Global ho-hum greets hubbub over bitcoin's creator | https://finance.yahoo.com/news/global-ho-hum-greets-hubbub-221240708.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) -- Who is bitcoin's real creator? The bitcoin community is reacting to that burning question with a collective ho-hum. Developers and bitcoin enthusiasts from Finland to Texas are downplaying the media frenzy that occurred Thursday after Newsweek identified the digital currency's creator as a Japanese American living in Southern California, only to have the man vehemently deny it to The Associated Press. The furor, they say, means little to bitcoin's future as a viable form of money. The computer code that underpins bitcoin has changed dramatically since its inception in 2009, spawning a generation of entrepreneurs seeking to ride its growing popularity to newfound wealth, outside of government controls. And while most bitcoin users and investors maintain a healthy interest in learning the true identity of the person known for years only as "Satoshi Nakamoto," they say the financial platform's maintenance and growth depends on the many creators who are working on it now. "From an engineering perspective, Satoshi gave up control on Jan. 5, 2009 when he birthed the first bitcoin transaction," said Jeff Garzik, a member of the seven member Bitcoin Core Development Team that controls what happens to the currency's central code today. "He created an organism and he gave it life and he released it into the wild for it to do as it does." Garzik says he doesn't believe Dorian Prentice Satoshi Nakamoto —the man who denied the Newsweek story — is the same Satoshi Nakamoto who posted the original written bitcoin proposal in 2008 and followed it up with computer code that made it possible the following year. Gregory Maxwell, another bitcoin core developer based in Mountain View, Calif., said he has "immense respect" for the bitcoin creator, but doesn't care who it is, or what the person's motivation was. The genius of bitcoin is it doesn't require trusting anyone at all, he said. "If the creator of bitcoin mattered to our ability to use it, then bitcoin has failed in its technological goals," he said. Story continues At the Texas Bitcoin Conference in Austin, Texas, with around 1,000 attendees, almost no panelists were talking about the founding father of the currency on Thursday, despite the disputed story breaking that morning. "Everybody was talking about what's next, not what was or who's behind it," said Bruce Fenton, a founding member of the Bitcoin Financial Association, an advocacy group that promotes its spread. Ultimately, die-hard bitcoin developers won't be convinced of the creator's identity until the proof is embedded in code. That can be done by transferring bitcoins from an account linked to the Satoshi Nakamoto who uploaded the original code. Another way would be to send an encrypted message using the so-called "PGP" key that is publicly listed on The Bitcoin Foundation website and is linked to a private key that only the real Satoshi Nakamoto knows. "If he wanted to identify himself, he would do so in a manner that would end speculation," Garzik said. Still, some people in the bitcoin community jumped into action at the prospect that the father (or mother) of the currency might finally come out of hiding. David Mondrus, another founding member of the Bitcoin Financial Association, contacted the AP to pass on the message that if the purported creator needed to escape the media whirlwind outside his home, a private plane could be readied within hours to whisk him and his family to a secret location. "For me, Satoshi Nakamoto represents the crossroads of Thomas Jefferson and George Washington," Mondrus said. "My first concern was for his safety." Following Dorian Nakamoto's denial, and hours after he left the AP's downtown Los Angeles headquarters, an attention-grabbing post was sent from a Satoshi Nakamoto account that had been dormant for three years, stating "I am not Dorian Nakamoto." The posting only fueled further speculation, because it was not verifiable, despite the website founder confirming that the account was linked to [email protected], the email address printed on the original bitcoin proposal from 2008. Bitcoin developer Shawn Wilkinson, 22, of Atlanta said that unless the addresses for Satoshi Nakamoto's bitcoins move or he's able to produce some kind of cryptographic signature proving his identity, there's no way to be sure. But in the grand scheme of things, Wilkinson said, it doesn't really matter. "It's not so much about the person, it's about the technology," he said. Some bitcoin supporters were upset by the quest to identify the currency's creator. They said the sleuthing represented a blatant invasion into the privacy of the person, or group, who clearly wants to remain anonymous. "They always intended bitcoin to be something that transcended them," said Will Yager, 18, a bitcoin developer who attends the University of Texas in Austin. "I think a lot of people are miffed about it because we are sort of violating this person's wishes." Others gave into curiosity. Bitcoin developer Janne Pulkkinen, who lives in Finland, said she'd be very interested to learn the identity of the man behind bitcoin, especially since he tried so hard to conceal it. "He used an anonymous email provider, used (privacy software) Tor to hide his tracks, digitally signed most of his messages to prevent anyone from impersonating him and basically used every trick in the book to keep his identity a secret," she said. "If he were to make a reappearance, it would be easily the most notable thing to happen to bitcoin since its inception." __ Fowler reported from New York. Technology writer Michael Liedtke contributed to this report from San Francisco. |
1,394,242,660 | 2014-03-08 01:37:40+00:00 | {"Bitcoin": [1171, 2070, 2394, 2823, 3231, 4113, 4998]} | {} | Global ho-hum greets hubbub over bitcoin's creator | https://finance.yahoo.com/news/global-ho-hum-greets-hubbub-over-bitcoins-creator-221240942--finance.html | Associated Press | https://apnews.com/ | LOS ANGELES (AP) — Who is bitcoin's real creator? The bitcoin community is reacting to that burning question with a collective ho-hum. Developers and bitcoin enthusiasts from Finland to Texas are downplaying the media frenzy that occurred Thursday after Newsweek identified the digital currency's creator as a Japanese American living in Southern California, only to have the man vehemently deny it to The Associated Press. The furor, they say, means little to bitcoin's future as a viable form of money. The computer code that underpins bitcoin has changed dramatically since its inception in 2009, spawning a generation of entrepreneurs seeking to ride its growing popularity to newfound wealth, outside of government controls. And while most bitcoin users and investors maintain a healthy interest in learning the true identity of the person known for years only as "Satoshi Nakamoto," they say the financial platform's maintenance and growth depends on the many creators who are working on it now. "From an engineering perspective, Satoshi gave up control on Jan. 5, 2009 when he birthed the first bitcoin transaction," said Jeff Garzik, a member of the seven member Bitcoin Core Development Team that controls what happens to the currency's central code today. "He created an organism and he gave it life and he released it into the wild for it to do as it does." Garzik says he doesn't believe Dorian Prentice Satoshi Nakamoto —the man who denied the Newsweek story — is the same Satoshi Nakamoto who posted the original written bitcoin proposal in 2008 and followed it up with computer code that made it possible the following year. Gregory Maxwell, another bitcoin core developer based in Mountain View, Calif., said he has "immense respect" for the bitcoin creator, but doesn't care who it is, or what the person's motivation was. The genius of bitcoin is it doesn't require trusting anyone at all, he said. Story continues "If the creator of bitcoin mattered to our ability to use it, then bitcoin has failed in its technological goals," he said. At the Texas Bitcoin Conference in Austin, Texas, with around 1,000 attendees, almost no panelists were talking about the founding father of the currency on Thursday, despite the disputed story breaking that morning. "Everybody was talking about what's next, not what was or who's behind it," said Bruce Fenton, a founding member of the Bitcoin Financial Association, an advocacy group that promotes its spread. Ultimately, die-hard bitcoin developers won't be convinced of the creator's identity until the proof is embedded in code. That can be done by transferring bitcoins from an account linked to the Satoshi Nakamoto who uploaded the original code. Another way would be to send an encrypted message using the so-called "PGP" key that is publicly listed on The Bitcoin Foundation website and is linked to a private key that only the real Satoshi Nakamoto knows. "If he wanted to identify himself, he would do so in a manner that would end speculation," Garzik said. Still, some people in the bitcoin community jumped into action at the prospect that the father (or mother) of the currency might finally come out of hiding. David Mondrus, another founding member of the Bitcoin Financial Association, contacted the AP to pass on the message that if the purported creator needed to escape the media whirlwind outside his home, a private plane could be readied within hours to whisk him and his family to a secret location. "For me, Satoshi Nakamoto represents the crossroads of Thomas Jefferson and George Washington," Mondrus said. "My first concern was for his safety." Following Dorian Nakamoto's denial, and hours after he left the AP's downtown Los Angeles headquarters, an attention-grabbing post was sent from a Satoshi Nakamoto account that had been dormant for three years, stating "I am not Dorian Nakamoto." The posting only fueled further speculation, because it was not verifiable, despite the website founder confirming that the account was linked to [email protected], the email address printed on the original bitcoin proposal from 2008. Bitcoin developer Shawn Wilkinson, 22, of Atlanta said that unless the addresses for Satoshi Nakamoto's bitcoins move or he's able to produce some kind of cryptographic signature proving his identity, there's no way to be sure. But in the grand scheme of things, Wilkinson said, it doesn't really matter. "It's not so much about the person, it's about the technology," he said. Some bitcoin supporters were upset by the quest to identify the currency's creator. They said the sleuthing represented a blatant invasion into the privacy of the person, or group, who clearly wants to remain anonymous. "They always intended bitcoin to be something that transcended them," said Will Yager, 18, a bitcoin developer who attends the University of Texas in Austin. "I think a lot of people are miffed about it because we are sort of violating this person's wishes." Others gave into curiosity. Bitcoin developer Janne Pulkkinen, who lives in Finland, said she'd be very interested to learn the identity of the man behind bitcoin, especially since he tried so hard to conceal it. "He used an anonymous email provider, used (privacy software) Tor to hide his tracks, digitally signed most of his messages to prevent anyone from impersonating him and basically used every trick in the book to keep his identity a secret," she said. "If he were to make a reappearance, it would be easily the most notable thing to happen to bitcoin since its inception." __ Fowler reported from New York. Technology writer Michael Liedtke contributed to this report from San Francisco. |
1,394,425,440 | 2014-03-10 04:24:00+00:00 | {"Bitcoin": [8, 122, 399, 1907, 2137], "BTC": [431]} | {"Bitcoin": [42]} | Trade Litecoin Automatically With Premier Bitcoin Trading Bot Butter-Bot | https://finance.yahoo.com/news/finance.yahoo.com/news/trade-litecoin-automatically-premier-bitcoin-042400939.html | ACCESSWIRE | https://www.accesswire.com/ | Premier Bitcoin trading robot Butter-Bot has added Litecoin support March 10th, 2014 / Tradcom South America’s Butter-Bot Bitcoin trading robot which launched in early 2013 is now adding Litecoin support , and the company is currently developing a hosted version and alternative strategy modules. Subscribers can now apply automated bot trading to the Litecoin market. Butter-Bot currently supports Bitcoin trading on BitStamp and BTC-e using the proven EMA based trading algorithm. The trading bot is backed by a professional company, experienced developers and a reliable support team, and makes automated trading accessible to newcomers and professionals alike. Butter-Bot is already known for being user friendly. Installation is an easy one click process supporting Windows, Linux and Mac operating systems. The hosted version which is currently under development will eliminate the installation step altogether. Users then set their API credentials and Butter-Bot goes to work trading automatically. Advanced users can customize Butter-Bot’s trading strategy to suit their own personal goals and needs. Butter-Bot is currently based on the EMA (Exponential Moving Average) logic used by professional currency traders, and its available built-in strategies will soon expand to include other modules. All Butter-Bot subscriptions include access to secure API, a back-testing engine, fast and robust data retrieval from the server back-end, and unlimited support from Tradcom’s professional support team. Users can configure email notifications to tell them when buy and sell orders are imminent or executed. Additional features include the ability to hold funds in reserve, only trading with part of the balance, trailing stop loss orders, and graphs and charts to keep users up on the price and trend developments. Butter-Bot is the most advanced and accessible trading robot designed specifically for Bitcoin trading. It is now adding support for Litecoin trading as a free upgrade to existing subscribers. Serious traders can now apply the benefits of Butter-Bot trading to the Litecoin market as well. Butter-Bot’s thread on the Bitcoin Forum is full of happy customers reporting profits, and this will only increase with Litecoin support . Story continues With the expansion of its proven trading strategies in addition to EMA, its users’ ability to fully customize the trading strategy to fit their particular goals and needs, the upcoming introduction of a hosted version making it even more user friendly than it already is, and its support for automated Litecoin trading, Butter-Bot continues to support seasoned and new Cryptocurrency traders and speculators everywheret . Visit http://butter-bot.com for more information. Contact Info Name: Pablo Lema Organization: Tradcom South America Email: [email protected] |
1,394,425,440 | 2014-03-10 04:24:00+00:00 | {"Bitcoin": [8, 122, 399, 1907, 2137], "BTC": [431]} | {"Bitcoin": [42]} | Trade Litecoin Automatically With Premier Bitcoin Trading Bot Butter-Bot | https://finance.yahoo.com/news/trade-litecoin-automatically-premier-bitcoin-042400939.html | ACCESSWIRE | https://www.accesswire.com/ | Premier Bitcoin trading robot Butter-Bot has added Litecoin support March 10th, 2014 / Tradcom South Americas Butter-Bot Bitcoin trading robot which launched in early 2013 is now adding Litecoin support , and the company is currently developing a hosted version and alternative strategy modules. Subscribers can now apply automated bot trading to the Litecoin market. Butter-Bot currently supports Bitcoin trading on BitStamp and BTC-e using the proven EMA based trading algorithm. The trading bot is backed by a professional company, experienced developers and a reliable support team, and makes automated trading accessible to newcomers and professionals alike. Butter-Bot is already known for being user friendly. Installation is an easy one click process supporting Windows, Linux and Mac operating systems. The hosted version which is currently under development will eliminate the installation step altogether. Users then set their API credentials and Butter-Bot goes to work trading automatically. Advanced users can customize Butter-Bots trading strategy to suit their own personal goals and needs. Butter-Bot is currently based on the EMA (Exponential Moving Average) logic used by professional currency traders, and its available built-in strategies will soon expand to include other modules. All Butter-Bot subscriptions include access to secure API, a back-testing engine, fast and robust data retrieval from the server back-end, and unlimited support from Tradcoms professional support team. Users can configure email notifications to tell them when buy and sell orders are imminent or executed. Additional features include the ability to hold funds in reserve, only trading with part of the balance, trailing stop loss orders, and graphs and charts to keep users up on the price and trend developments. Butter-Bot is the most advanced and accessible trading robot designed specifically for Bitcoin trading. It is now adding support for Litecoin trading as a free upgrade to existing subscribers. Serious traders can now apply the benefits of Butter-Bot trading to the Litecoin market as well. Butter-Bots thread on the Bitcoin Forum is full of happy customers reporting profits, and this will only increase with Litecoin support . Story continues With the expansion of its proven trading strategies in addition to EMA, its users ability to fully customize the trading strategy to fit their particular goals and needs, the upcoming introduction of a hosted version making it even more user friendly than it already is, and its support for automated Litecoin trading, Butter-Bot continues to support seasoned and new Cryptocurrency traders and speculators everywheret . Visit http://butter-bot.com for more information. Contact Info Name: Pablo Lema Organization: Tradcom South America Email: [email protected] |
1,394,456,280 | 2014-03-10 12:58:00+00:00 | {"Bitcoin": [110, 564, 686, 1143, 2125, 2272, 2301, 2555, 2842, 2865, 3048, 3197, 3330, 3452, 3590]} | {"Bitcoin": [39]} | DAMODARAN: 3 Things Need To Happen For Bitcoin To Be Successful | https://finance.yahoo.com/news/damodaran-3-things-happen-bitcoin-125800756.html | Business Insider | http://www.businessinsider.com/ | Aswath Damodaran CNBC Aswath Damodaran Valuation expert and NYU professor Aswath Damodaran finally waded into Bitcoin territory in his latest blog post to rule on the cryptocurrency's staying power and pricing. Damodaran looked at "three determinants of a currency's price/power: t he trust you have in its issuing entity, its acceptance in transactions and how securely you can store and save it, while generating a fair rate of return while doing so." 1. Trust in the issuing authority How much "trust" do people really have in the Federal Reserve? The ECB? For Bitcoin, Damodaran's key question is, "Are there some computer algorithms that you trust more than some central bankers?" Bitcoin's key appeal is that it doesn't have a central authority, but that means that its staying power will be tethered to "how impervious its source algorithm is to mischief," according to Damodaran. 2. Acceptance in transactions "Since the defining role for a currency is that it can be used in transactions, the price of a currency will depend upon how widely it is accepted in transactions for goods and services," Damodaran writes. As it stands now, "Bitcoin is a currency, but one that is currently accepted only in a small subset of transactions and used by only a few," he writes. "Whether it or any other digital currency will be widely accepted will depend in large part on how its advocates package and market it. If the emphasis is on convenience, low cost and transaction speed, it has the potential for much wider acceptance, especially if it is made simpler to understand and not oversold. If the focus is on privacy, security and anonymity, I am afraid that the dark side will win out and it will become the currency of the paranoid and illegal, with all of the associated costs and benefits." 3. Security and rate of return "The final measure of a currency's strength and durability is how easily you can convert it into other currencies, how securely you can store and save it and and whether you are compensated while you hold it," writes Damodaran. Story continues Citing the MtGox bankruptcy , Damodaran says current Bitcoin exchanges do not provide depositors proper protection against themselves or possible hacks. "While it may conflict with the vision of some Bitcoin revolutionaries, the Bitcoin economy may need a banking system of its own that is regulated and perhaps even insured by a centralized entity," he concludes. Comparison Damodaran provides a chart to put digital currencies in context. He uses three paper currencies, gold, and Bitcoin. Check it out : damodaran bitcoin Aswath Damodaran Based on his chart, Damodaran favors the U.S. dollar over the yuan, but the yuan over the peso. He likes the dollar over gold but "it is a closer call that it was five years ago." He'd take gold over the yuan, but the yuan over Bitcoin. "If you are a Bitcoin enthusiast, the pathway to its success requires three developments: the computer algorithm underlying the currency has to stay transparent, robust and protected, the usage of Bitcoins has to spread beyond the narrow band of enthusiasts to the broader marketplace and the infrastructure for securing, transporting and saving Bitcoins has to be strengthened," he writes. Read Damodaran's full post here » More From Business Insider The Reporter Who Found The Bitcoin Creator Is Answering Some Of The Biggest Questions About Her Story REPORT: BITCOIN INVENTOR HAS BEEN FOUND How A 'Bitcoin Bank' Was Robbed Of Every Single Coin It Held Online The Statements From People Who Lost Their Money On Mt. Gox Are Seriously Sad Bitcoin Is On A Gigantic Tear |
1,394,519,497 | 2014-03-11 06:31:37+00:00 | {"Bitcoin": [2404]} | {} | PRESS DIGEST- New York Times business news - March 11 | https://finance.yahoo.com/news/press-digest-york-times-business-063137088.html | Reuters | http://www.reuters.com/ | March 11 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * A House committee has started an investigation into the response by General Motors and federal safety regulators to complaints about faulty ignition switches that have been linked to 13 deaths, officials said on Monday. () * Myriad Genetics Inc has suffered a setback in its efforts to protect its main genetic test from competition. A federal judge on Monday denied Myriad's request for a preliminary injunction that would have immediately stopped a rival company, Ambry Genetics, from offering similar breast cancer tests. () * Puerto Rico is expected to sell about $3 billion in bonds on Tuesday at interest rates that are considerably lower than many investors in the municipal market had expected, providing a rare bright spot for the cash-squeezed island. () * The Blackstone Group and private equity firm TPG Capital are teaming up in a planned bid for manufacturing company Gates Global Inc, a person briefed on the matter said on Monday. () * The Obama administration on Monday withdrew a proposal that would have allowed insurers to limit Medicare coverage for certain classes of drugs, including those used to treat depression and schizophrenia, due to pressure from patients, pharmaceutical companies and members of Congress from both parties. () * General Electric Co Chief Executive Jeffrey Immelt emphasized on the "culture of simplification", in a letter to shareholders published on Monday. The effort to simplify involves reducing the size of the finance unit, GE Capital. GE Capital has been selling assets, including a Swiss subsidiary whose initial public offering created a $1 billion tax benefit in the fourth quarter of 2013. () * U.S. fruit firm Chiquita Brands acquired Irish rival Fyffes, which distributes fruits across Europe for about $526 million. The all-stock deal will combine Chiquita, with robust sales in the United States, with Fyffes, which is stronger in Europe, to create a global banana production and distribution company. () * Minerals Technologies said on Monday that it had won a bidding war for Amcol International Corp, agreeing to pay about $1.7 billion. () * Morgan Stanley Chief Executive James Gorman said in a television interview on Monday that he did not have a firm grasp of Bitcoin, which has been much in the news after the collapse of a major exchange, Mt. Gox, and after Newsweek claimed to have found the currency's creator. () |
1,394,564,895 | 2014-03-11 19:08:15+00:00 | {"Bitcoin": [41, 298, 428, 741, 891, 1062, 2651, 2816, 3000, 3076]} | {"Bitcoin": [7]} | Beware Bitcoin - U.S. brokerage regulator | https://finance.yahoo.com/news/beware-bitcoin-u-brokerage-regulator-190815718.html | Reuters | http://www.reuters.com/ | By Jonathan Stempel March 11 (Reuters) - Bitcoin can expose people to significant losses, fraud and theft, and the lure of a potential quick profit should not blind investors to the virtual currency's significant risks, a brokerage industry watchdog warned on Tuesday. In an investor alert titled "Bitcoin: More than a Bit Risky," the Financial Industry Regulatory Authority (FINRA) said recent events such as the bankruptcy of Bitcoin exchange operator Mt. Gox have spotlighted some of the currency's risks. "Speculators drawn to bitcoin trading should understand that bitcoin prices have fluctuated widely, and wildly," said Gerri Walsh, FINRA's vice president for investor education. "Investors looking to get in on the ground floor of a Bitcoin-related company should realize that fraudsters may see the latest digital currency trend as a chance to steal their money." Launched in 2009, Bitcoin offers a way for people to conduct transactions over the Internet, with bitcoins that they can buy and sell online or in person. Supporters say the anonymity that Bitcoin offers lowers the risk of fraud, while critics say that same anonymity and lack of central oversight make it easier to commit crimes. The market for the currency was rocked last month when Mt. Gox, once the world's largest bitcoin exchange, ceased operations, and soon after filed for bankruptcy in Japan and the United States. Mt. Gox said it may have lost 750,000 bitcoins, worth hundreds of millions of dollars, in a hacking attack. The week before Mt. Gox shut down, the U.S. Securities and Exchange Commission said it had halted trading in securities of Imogo Mobile Technologies Corp, which was testing a mobile bitcoin platform, amid questions about its business. () Also on Tuesday, Texas Securities Commissioner John Morgan said he had ordered Balanced Energy LLC and its president, Kirk Johnson, to stop marketing investments in West Texas oil wells that had not been properly registered - and for which they accepted bitcoins as payment without disclosing the risks. Story continues Balanced Energy, based in the Dallas suburb of Southlake, Texas, did not immediately respond to requests for comment. Federal Reserve Chair Janet Yellen has said the Fed has no jurisdiction over bitcoins, but that Congress should look into regulating virtual currencies. No clear plan has emerged. FINRA, an independent, industry-funded regulator for more than 4,100 securities firms that employ about 632,000 brokers, reminded prospective bitcoin investors to never speculate with money they cannot afford to lose and that platforms for the currency can be hacked or fail. It also said Bitcoin has been used in drug dealing, money laundering and other crimes, and that law enforcement actions could leave people unable to use or trade their bitcoins. Bitcoin Foundation, which advocates the use of the currency, agreed that investors should understand the risks. "We have been saying all along that investors should not invest more in Bitcoin than they are willing to lose," spokeswoman Jinyoung Englund said. "Bitcoin is a five-year-old technology, and we are just starting to see responsible entrepreneurs build reliable services for this ecosystem." |
1,394,571,735 | 2014-03-11 21:02:15+00:00 | {"Bitcoin": [32, 289, 419, 732, 882, 1053, 2685, 2850, 3034, 3110]} | {"Bitcoin": [7]} | Beware Bitcoin: U.S. brokerage regulator | https://finance.yahoo.com/news/beware-bitcoin-u-brokerage-regulator-190942582--sector.html | Reuters | https://www.reuters.com/ | By Jonathan Stempel (Reuters) - Bitcoin can expose people to significant losses, fraud and theft, and the lure of a potential quick profit should not blind investors to the virtual currency's significant risks, a brokerage industry watchdog warned on Tuesday. In an investor alert titled "Bitcoin: More than a Bit Risky," the Financial Industry Regulatory Authority (FINRA) said recent events such as the bankruptcy of Bitcoin exchange operator Mt. Gox have spotlighted some of the currency's risks. "Speculators drawn to bitcoin trading should understand that bitcoin prices have fluctuated widely, and wildly," said Gerri Walsh, FINRA's vice president for investor education. "Investors looking to get in on the ground floor of a Bitcoin-related company should realize that fraudsters may see the latest digital currency trend as a chance to steal their money." Launched in 2009, Bitcoin offers a way for people to conduct transactions over the Internet, with bitcoins that they can buy and sell online or in person. Supporters say the anonymity that Bitcoin offers lowers the risk of fraud, while critics say that same anonymity and lack of central oversight make it easier to commit crimes. The market for the currency was rocked last month when Mt. Gox, once the world's largest bitcoin exchange, ceased operations, and soon after filed for bankruptcy in Japan and the United States. Mt. Gox said it may have lost 750,000 bitcoins, worth hundreds of millions of dollars, in a hacking attack. The week before Mt. Gox shut down, the U.S. Securities and Exchange Commission said it had halted trading in securities of Imogo Mobile Technologies Corp, which was testing a mobile bitcoin platform, amid questions about its business. (http://www.sec.gov/litigation/suspensions/2014/34-71568.pdf) Also on Tuesday, Texas Securities Commissioner John Morgan said he had ordered Balanced Energy LLC and its president, Kirk Johnson, to stop marketing investments in West Texas oil wells that had not been properly registered - and for which they accepted bitcoins as payment without disclosing the risks. Balanced Energy, based in the Dallas suburb of Southlake, Texas, did not immediately respond to requests for comment. Federal Reserve Chair Janet Yellen has said the Fed has no jurisdiction over bitcoins, but that Congress should look into regulating virtual currencies. No clear plan has emerged. FINRA, an independent, industry-funded regulator for more than 4,100 securities firms that employ about 632,000 brokers, reminded prospective bitcoin investors to never speculate with money they cannot afford to lose and that platforms for the currency can be hacked or fail. It also said Bitcoin has been used in drug dealing, money laundering and other crimes, and that law enforcement actions could leave people unable to use or trade their bitcoins. Bitcoin Foundation, which advocates the use of the currency, agreed that investors should understand the risks. "We have been saying all along that investors should not invest more in Bitcoin than they are willing to lose," spokeswoman Jinyoung Englund said. "Bitcoin is a five-year-old technology, and we are just starting to see responsible entrepreneurs build reliable services for this ecosystem." (Reporting by Jonathan Stempel in New York; Additional reporting by Emily Flitter; Editing by Jonathan Oatis) |
1,394,579,153 | 2014-03-11 23:05:53+00:00 | {"Bitcoin": [22, 4645]} | {} | At tech fest: 3D printers, bitcoin and 'Titanfall' | https://finance.yahoo.com/news/tech-fest-3d-printers-bitcoin-230444456.html | Associated Press | https://apnews.com/ | AUSTIN, Texas (AP) -- Bitcoin, 3-D printed candy and George Takei, the Star Trek-actor-turned-Facebook-phenomenon, are among the attractions this week at the South By Southwest festival in Austin, Texas, where the geek set is slowly filing out to make room for hordes of musicians descending on the city. Known as the launching pad of Twitter and home to Foursquare's coming out party just a few years ago, the annual tech confab also attracts big tech companies that are eager to test out new ideas or simply show that they're still "with it." Here's a sampling of what you missed other than waiting in long lines if you didn't make it to Austin this year: MICROSOFT'S MASSIVE "TITANFALL" LAUNCH The line to get in to Microsoft Corp.'s 9 p.m. launch party for the eagerly anticipated video game "Titanfall" started forming around 10 a.m. on Monday. By 8 p.m. that night it was around the block and not moving much. Joseph Cook, 12, rode down with his uncle from nearby Round Rock to get his hands on the game, which went on sale at midnight. They'd been waiting since 6:40 p.m. "I have been looking at this game since it was launched," Cook says. So what's so great about it? "Parkour, titans and guns," he says, summing it up. "Titanfall," from the creators of "Call of Duty," is a shooter game that can only be played with others online there's no single-player mode. You play either as a pilot or a titan, wearing a giant, Transformers-like robot suit. Microsoft has a lot riding on "Titanfall." The company's Xbox One console is trailing Sony's PlayStation 4 in sales. Yusuf Mehdi, chief marketing and strategy officer at Microsoft, though, notes that it's early in the game. "We are maybe 10 million units in," he says, citing sales figures for the newest generation of game consoles from Sony and Microsoft. Analysts expect some 350 million consoles to be sold in the coming years before the next console cycle comes around. So why South By Southwest and not, say, a video game conference for the launch party? Story continues "Just knowing there are a lot of fans here, and (that) there's a crossover of social, pop culture, gaming and technology here. That just makes it a really fun place to do it," says David Dennis, a spokesman for Microsoft. BIO-REACTIVE DANCE PARTY Some 150 sweaty people jammed in a plastic igloo Monday night, wearing special bracelets that measured their movement, body temperature and excitement level. A-Trak, the popular Canadian DJ known for his work with Kanye West and the Yeah Yeah Yeahs, took stage just as the crowd's excitement level as measured by their wristbands reached its peak. Lightwave, the startup behind the technology, sees broad potential for the bands, not just at concerts but also at movies, sporting events or political rallies. The DJ had an iPad in front of him that showed the crowd's real-time excitement level during the event. He could adjust the music to guide the dancers' mood. Cocktail waitresses served drinks with glowing plastic ice cubes when the excitement level reached a crescendo, and bottles of cold water when body temperatures started rising from all the dancing. BITCOIN ATM, BITCOIN FUTURE? A bitcoin ATM on the trade show floor asks for your phone number, government-issued photo ID and palm print before it lets you buy bitcoins using cold hard cash. On Tuesday afternoon, a dollar amounted to exactly 0.00149158 bitcoin. The news-making digital currency was also the subject of several panels at the conference, where people debated its future, viability and usefulness. Fred Ehrsam, the 25-year-old co-founder of bitcoin wallet service Coinbase, told an audience Monday that he "highly doubts" that Dorian Prentice Satoshi Nakamoto, the man identified in a Newsweek cover story as the founder of bitcoin, is the currency's creator. (Nakamoto denies that he's the man behind bitcoin). But in the end, it might not matter. "All that matters is the technology," Ehrsam says, pointing out that if you stopped someone on the street and asked them who created STMP (that's Simple Mail Transfer Protocol, the technology standard behind email), they probably couldn't tell you even though they likely use email. While acknowledging that only 5 percent of his own net worth is in the form of bitcoins, Ehrsam predicted a robust future for the cyber currency. "One of the common missteps is talking about bitcoin as a currency first and foremost, rather than the technology," he says, adding that first and foremost, bitcoin is network that lets people transfer ownership. Though it's being used in commerce right now, the implications are broader. Bitcoin today, Ehrsam says, is "analogous to the early days of the Internet." TAKEI'S TAKE George Takei counts three generations of "Star Trek" fans among his 6 million Facebook fans and 1 million Twitter followers. It's the 76-year-old actor's first foray into South By Southwest, where he's filming the second season of his YouTube show, the AARP-sponsored "Takei's Take." He spoke Tuesday about growing up in Japanese internment camps in the 1940s, political activism and using humor to grow his social media fan base. He played down the stereotype that people of his generation are technophobes, while admitting that there are some who might be afraid to "go where no man has gone before," as the "Star Trek" quote goes. Take his sister, for example. Takei said his sister doesn't own a computer. Though he's convinced her to buy an iPhone, "but whenever she leaves the house, she leaves the iPhone at home." Baby steps. WAITING FOR OREO It can't get any more SXSW than this. Festival attendees waited in long lines, even in the rain, to get a chance to create and print out customized Oreo cookies, based on Twitter trends and using a 3-D printer. Users could pick from 12 "trending flavors" and colors for the cookies, watch as the printer created their cookies and wash them down with a cup of milk. Besides Oreos, 3-D printed candy and chocolate also made an appearance at the festival. |
1,394,647,080 | 2014-03-12 17:58:00+00:00 | {"Bitcoin": [205, 354, 1177, 1353, 1464, 1549]} | {"Bitcoin": [44]} | A New Browser Extension Turns Amazon Into A Bitcoin-Friendly Superstore | https://finance.yahoo.com/news/browser-extension-turns-amazon-bitcoin-175832311.html | Business Insider | http://www.businessinsider.com/ | Zinc Save is a browser extension for Chrome compatible with major retailers like Macy's, Target, Walmart, and Amazon that bills itself as a moneysaving utility, but it also turns these companies into into Bitcoin-friendly retailers. Amazon sells nearly everything the heart could desire, so the prospect of making it accessible to those wishing to spend Bitcoins is pretty exciting. The extension places a new button underneath Amazon's usual "Place your order" button that says "Order with Zinc for [slightly reduced price]". Completing the checkout process this way sources the items in your order "from the retailer or vendor that offers your item(s) at the best price" and applies "discount codes, credit card rewards, and any other available promotions" to the order. Zinc Save essentially functions as your cheapskate-for-hire. welcome step 3 Zinc Save But the real magic happens upon checkout you don't actually complete your order with Amazon, but place it through Zinc instead. Zinc clones your order through Amazon on your behalf, and you have the choice of how to pay Zinc. Of course your standard credit card is readily accepted, but Zinc will also gladly accept Bitcoin. Your Amazon order "will be shipped with the speed you originally selected or faster," so as long as Zinc can hold true there, this near-seamlessly turns Amazon into a Bitcoin-friendly superstore. More From Business Insider These Are The Big Retailers That Are Winning On Mobile Bitcoiners Are Raising Money For The California Man Who May Or May Not Have Invented Bitcoin Amazon's Impressive Success With The Kindle Fire In One Chart |
1,394,660,760 | 2014-03-12 21:46:00+00:00 | {"Bitcoin": [2279]} | {} | Icahn Gets Traction On PayPal Spinoff | https://finance.yahoo.com/news/icahn-gets-traction-paypal-spinoff-214600235.html | Investor's Business Daily | http://www.investors.com/ | Carl Icahn has hit a nerve with some eBay shareholders. Many analysts were skeptical in late January when the veteran corporate raider revealed he had taken a nearly 1% stake in the payment and e-commerce giant and said he would press eBay (EBAY) to spin off its lucrative PayPal unit to unlock greater shareholder value. Most observers said Icahn needed a much larger stake at least 25%, noted Susquehanna Financial Group and deep shareholder support to force a showdown with eBay directors, who have rejected his proposal and continued their 2-year-old restructuring and international expansion efforts. The eBay gambit adds to the portfolio of Icahn, who moved similarly with Apple (AAPL), Netflix (NFLX), Yahoo (YHOO) and other companies in pursuit of his activist agenda. A report last week by Bernstein Research found many shareholders aren't happy with eBay's directors adding grist to Icahn's call for a boardroom shuffle. The report by Bernstein analyst Carlos Kirjner says 55% of investors feel the composition of eBay's board should change, though only 42% favor spinning off PayPal and fewer than 30% favor giving Icahn a board seat. Bernstein polled 178 investors, nearly half of whom were eBay shareholders. About two-thirds were long on the company, and one-third were composed of hedge funds. Kirjner declined further comment beyond the report. But some other analysts are also lending more credence to Icahn's spinoff proposal. "We think there's merit to possibly separating (eBay from PayPal)," S&P Capital IQ equity analyst Scott Kessler told IBD, noting that eBay could preserve its "synergies" with PayPal even if it becomes a separate company. EBay's Alibaba Robert Wagner, who bills himself as an independent analyst, noted in a report on the Seeking Alpha website last week titled "PayPal Could Be EBay's Alibaba" the similarity to how Yahoo's value is underpinned by its 24% holding in China e-commerce leader Alibaba, which could launch a U.S. IPO this year. Story continues Wagner says a PayPal spinoff would make the payment king a better platform for strategic acquisitions especially in mobile payments. He also speculates that an independent PayPal would develop a virtual payment currency tailored to merchant needs that would differ from Bitcoin, a digital currency that's a favorite of speculators. "I imagine PayPal could (develop a digital currency product), but given that they haven't, I assume eBay either hasn't thought of it or isn't interested. An independent PayPal would likely be forced to address the virtual currency issue," Wagner wrote. In any case, Icahn continues to gain more credibility with analysts, two months after eBay CEO John Donahoe rebuffed Icahn's spinoff notion as an "old idea. Most industry observers agree with Donahoe, but some have started to side with Icahn. Omega Advisors honcho Leon Cooperman told CNBC on Monday that he backs Icahn's call for a PayPal spinoff. Cooperman's hedge fund owned a less than 0.1% stake in eBay as of Dec. 31. EBay stock is up 6.5% since Icahn's stake was disclosed late Jan. 22, showing Icahn has triggered investor interest. EBay has been underperforming in long-term revenue and other targets laid out by the company at a pivotal analyst day event in March 2013. Donahoe said then that eBay expected sales of $21.5 billion to $23.5 billion in 2015. But in January, when the company released Q4 earnings, it lowered its 2015 revenue outlook to $20.5 billion to $21.5 billion. PayPal also might be lagging the company's forecast. At that March 2013 meeting, PayPal President David Marcus predicted his firm's total payment volume would double from $145 billion at the end of 2012 to roughly $290 billion at the end of 2015. PayPal reported $180 billion in TPV for 2013, so it has to pick up its pace to hit its target. "A lot of the optimism around (eBay) stock was about what they could do about PayPal, and this has clearly fallen short of expectations," ITG analyst Steve Weinstein told IBD. EBay's board has shown its unhappiness. Its executive compensation committee cut Donahoe's 2013 compensation by 53%. The committee "concluded that while Mr. Donahoe continued to perform well against many ... goals, the (company's) financial performance for 2013 and positioning relative to its competitors at the start of 2014 did not fully meet expectations," it said in a proxy statement filed Monday. S&P's Kessler says eBay could gain from a PayPal spinoff. It could keep a majority stake in PayPal, helping its own valuation while using its PayPal shares to help fund new acquisitions. "PayPal stock would command a high valuation that (would provide leverage) for acquisitions" by eBay, he said. EBay points out that removing PayPal would interfere with how the payment unit generates growth for its marketplaces unit, and vice versa. Executives underscore the benefits of eBay and PayPal sharing business information, fraud detection technology and marketing resources. But Kessler says there are ways to preserve these synergies even with a PayPal spinoff. Kessler notes that he broached the idea of a PayPal spinoff as far back as when he made his predictions for 2011. |
1,394,722,500 | 2014-03-13 14:55:00+00:00 | {"Bitcoin": [940]} | {"Bitcoin": [72]} | Wearable Point-of-View (POV) Video App Available for Download and to Be Bitcoin-Enabled by Chancellor Group Subsidiary, Pimovi, Inc. | https://finance.yahoo.com/news/wearable-point-view-pov-video-145500809.html | Marketwired | http://www.marketwired.com/ | BERKELEY, CA--(Marketwired - Mar 13, 2014) - Pimovi, Inc., a 61%-owned subsidiary of The Chancellor Group ( OTCBB : CHAG ) ( OTCQB : CHAG ) , announced it has received approval from Apple, Inc. for the download of the "Ian O'Leary CamFusion" POV video mobile app. Pimovi has entered into an agreement with O'Leary, a top Basketball player in Spain. Pimovi will use Spain as a consumer testing ground and showcase to launch its CamFusion app. The company will also seek to make similar revenue-sharing agreements available to entertainers in the area of music, film and TV in the US and other countries while at the same time aiming to establish alternative currency payment methods for conducting transactions between fans and their favorite entertainers or stars. Pimovi Co-Founder and Chief Scientific Officer, Kasian Franks said today: "Our CamFusion app [patent application #61774549] should be capable of acting as a tool to integrate Bitcoin-enabled and other alternative currency-enabled financial transactions for CamFusion and other Pimovi products in collaboration with Coinbase, Inc. in fulfilling transactions. "As these products are being designed for the music, sports and entertainment audience, we believe supporting alternative currency platforms and transactions surrounding content, fans and entertainers will be an important first step in seeking to reach our potential audience." ABOUT PIMOVI Pimovi Inc. -- http://pimovi.com -- is a next generation mobile media and entertainment technology subsidiary of the Chancellor Group, Inc. (CHAG) http://www.chancellorgroupinc.com -- Pimovi operates in the music and entertainment area with being the developer of proprietary algorithms for content, search, recommendation in addition to mobile distribution platforms for First Person, or Point-Of-View (POV) video software and hardware for music, sports and entertainment in general. Pimovi is based in Berkeley, California. Safe Harbor Statement: This Media release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Chancellor Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. |
1,394,727,900 | 2014-03-13 16:25:00+00:00 | {"Bitcoin": [406, 490, 667]} | {} | 3D Eye Solutions Inc. Would Like to Announce the Following Updates | https://finance.yahoo.com/news/finance.yahoo.com/news/3d-eye-solutions-inc-announce-162500115.html | Marketwired | http://www.marketwired.com/ | CHEYENNE, WY--(Marketwired - Mar 13, 2014) - 3D Entertainment Holdings, Inc. a Wyoming Corporation dba 3D Eye Solutions Inc. (OTC Pink: TDEY) ( PINKSHEETS : TDEY ) would like to announce the following updates. The company has been diligently working on its core and expanded business plans since our last update and would like to report the following progress. First we want to give you and updated on our Bitcoin AP with RF Technology -- we are proud to announce the first test run of our Bitcoin phone application with RF payment technology. Global Product Placement LLC will test the application. We believe our applications ability to purchase, wallet, and spend Bitcoins and its capability to spend them at point of sale with ease of you RF technology will revolutionize digital currency. Also we wanted our shareholders to know about our 3D Content Development -- we are currently in negotiations to launch a 100% 3D music video network. I am currently donating my total production library to TDEY for use as needed. Major New Acquisitions We have signed a MOU (memorandum-of-understanding) with a publicly traded 3D corporation with a large content library and very qualified management, which will be integrated into TDEY's BoD. We have spent a great deal of time getting all the details done for this acquisition so it will be beneficial for both companies involved. We wanted to let our shareholders know about this new deal and apologize for it taking so long to put together. Another new area we are looking to expand our business model in is the IPTV market. We are currently in talks with an IPTV company to be fully acquired by TDEY. We will keep you completely updated as this new acquisition is being sought after. We are very excited that our expanded business plan is starting to take shape and accelerate at a pace where considerable revenues will be generated in the coming quarters. I am looking forward to making announcements next week as to our new CEO and begin filling Board of Director positions, and also releasing expanded details of our new acquisitions. Edward Vakser Chairman (TDEY) |
1,394,787,600 | 2014-03-14 09:00:00+00:00 | {"Bitcoin": [6, 151, 349, 683, 1008, 1104, 1190, 1310, 1338, 1834, 3561]} | {"Bitcoin": [6]} | First Bitcoin Capital Corp. (OTC:BITCF) Secures Contract with Digital Currency Payment Processor GoCoin.com | https://finance.yahoo.com/news/first-bitcoin-capital-corp-otc-090000861.html | ACCESSWIRE | https://www.accesswire.com/ | First Bitcoin Capital Corp. ( BITCF ) Secures Contract with Digital Payment Processor GoCoin.com VANCOUVER, B.C. / ACCESSWIRE / March 14, 2014 / First Bitcoin Capital Corp. ( BITCF ) today announced a partnership with GoCoin, the leading international digital currency payment platform. GoCoin.com will handle payment processing needs for all First Bitcoin Capital’s divisions, including Coinqx.com, BitEssentials.com and BitclassTravel.com. “After conducting extensive research and evaluating several digital currency payment processors, we selected GoCoin.com because of its impressive offerings to merchants around the world,” Dr. V. Abramov , Chairman of advisory board of First Bitcoin Capital Corp. said. GoCoin.com goes beyond bitcoin, accepting litecoin and soon dogecoin payments at checkout as well. Dr. Abramov added, “We were also impressed by GoCoin’s proprietary back-end systems that optimize the coin exchange for cash, eliminating the merchant’s volatility and security risk.” The company’s Bitcoin ATM Franchise Corp. will also be powered by GoCoin.com. As part of the agreement, First Bitcoin Capital Corp. and GoCoin.com will take part in an Partner program where First Bitcoin Capital will receive monetary compensation for vendor referrals that implement the GoCoin platform. About First Bitcoin Capital Corp. First Bitcoin Capital Corp. is a developing Canadian-based mining company currently holding concessions of Gold in Venezuela and operates in the crypto-currency industry as the first vertically integrated industry consolidator. Company has number of projects in development. For more information please visit: http://www.bitcoincapitalcorp.com/ About GoCoin GoCoin is the first international payment platform for digital currencies, making it easier than ever for online and retail merchants to accept Bitcoin, Litecoin and Dogecoin payments. GoCoin enables merchants to reap the benefits of accepting digital currency without taking on the perceived risk. Founded in July 2013, GoCoin is an international group of companies with presence in Asia Pacific, the Americas, the Caribbean and Europe. For more information, please visit http://www.gocoin.com/ . Story continues SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "anticipates," "intends," or "expects," used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Contact: [email protected] Source: First Bitcoin Capital Corp. |
1,394,803,872 | 2014-03-14 13:31:12+00:00 | {"Bitcoin": [97, 272, 448, 571, 947, 2546, 4095, 4243, 4290, 4709, 5058, 5076, 5271, 6138, 6474, 6574, 6634, 6875, 7232, 7418, 7513]} | {"Bitcoin": [43]} | Mind Your Wallet: Why the Underworld Loves Bitcoin | https://finance.yahoo.com/news/mind-your-wallet-why-the-underworld-loves-bitcoin-79552305221.html | Yahoo Tech | https://www.yahoo.com/tech/ | By Jeremy Wagstaff, Reuters Criminals may already have made off with up to $500 million worth of Bitcoin since the virtual currency launched in 2009 — and you can double that if it turns out they emptied Mt. Gox. Internet criminals, security experts say, are attracted to Bitcoin because of its stratospheric rise in value, because it’s easier to steal than real money, and because it’s easier to trade with other criminal elements. But, they add, Bitcoin will survive the damage. “It’s just growing pains,” says Keith Jarvis, a security researcher at Dell SecureWorks. “Bitcoin is large enough and has enough momentum behind it to survive any public relations damage from this (Mt. Gox) case or anything else.” The fall of Mt. Gox, the Tokyo-based exchange that filed for bankruptcy last month after saying it lost some 850,000 bitcoins to hackers, is certainly the virtual currency’s biggest crisis. But data collated by Reuters from specialist Bitcoin industry websites and Internet forums shows that more than 730,000 bitcoins were already missing to theft, hacking, cyber-ransom payments and other apparently criminal pursuits before Mt. Gox’s collapse. That’s nearly 6 percent of all bitcoins and doesn’t include dozens, possibly hundreds, of unreported cases of individuals who have lost bitcoins from their computers or online exchanges to hackers. For sure, there’s no way of telling who has these missing bitcoins or whether they were converted to real money when the price was much lower. And of course some bitcoins may have been counted twice if criminals stole them from each other or if they were put back into circulation and stolen again. But there’s no question that bitcoins have attracted the attention of cyber-criminals — as a currency and an asset worth stealing. Beware malware A study by Pat Litke and Joe Stewart of Dell SecureWorks showed that as the price of bitcoin soared beyond $1,000 last year, so did the number of viruses designed to steal bitcoins from wallets — programs that hold bitcoins on people’s computers or smartphones. Of the 140 types of such software, more than 100 appeared in the past year. Story continues Writing such viruses, Stewart says, is easy. “There’s no sophistication involved in the storage of bitcoin in wallets. As for malware, it’s some of the easiest stuff to write.” Indeed, this cyber pocket-picking wasn’t criminals’ first foray into bitcoins. Initially, they focused on using their control of large networks of infected computers — called botnets — to make their own bitcoins. Bitcoins are created through a “mining” process where a computer’s resources are used to perform millions of calculations. For a while, says Kirill Levchenko, a researcher at the University of California, San Diego, criminals added malware to their botnets to turn infected computers into bitcoin miners. This triggered predictions of doom for bitcoin — that the criminals would take over the mining of bitcoin through botnets and bring the whole currency crashing down. But as bitcoins become harder to mine — according to an algorithm that slows down their production the more people try to create them — this approach has proved less profitable. In 2012 and 2013, says Danny Huang, another researcher at the University of California, San Diego, botnets earned at least 4,500 bitcoins, a relatively small sum compared with the total produced. “Few botnets are mining bitcoins now,” he says. Instead, criminals have turned to stealing them from wallets or, more lucratively, from exchanges. According to data compiled last year by academics Tyler Moore and Nicolas Christin, of 40 exchanges tracked, 18 had closed, with customer balances wiped out in many cases — not always, they point out, due to fraud. Since then, according to public reports, more than a dozen others have been hacked. Currency of thieves Cyber-criminals have also made use of the ease with which bitcoins can be traded without any third party — such as a bank or an online payments service like PayPal — to use it as at least one way of paying for services among themselves. “Bitcoin made it much easier for them, because they have to trust each other even less. Even complete strangers can cooperate,” said Juraj Bednár, a Bitcoin security expert in Slovakia. But while Bitcoin has its advantages, it’s not a perfect tool for the bad guys. Take, for example, ransomware. Viruses that encrypt data and then demand payment for a key to unlock it have become increasingly sophisticated, says Dell SecureWorks’ Jarvis. The most successful: CryptoLocker, which Jarvis believes is run by a Russian-speaking gang who are also behind a botnet called Gameover Zeus that targets financial websites. Bitcoin often appears on CryptoLocker as an option for victims to pay up. Its appeal, Bednár says, lies in the fact that it needs no third party for the transaction to work. But there have been problems. For one thing, the type of person to be infected by a virus wasn’t likely to be the type who is technologically savvy enough to be familiar with Bitcoin. Also, as Bitcoin rose in value, it became a more expensive option for the victim, forcing the criminals to lower their ransom demands to match prevailing exchange rates. Tracing transactions Then there’s Bitcoin’s transparency. All transactions are visible, and while they’re just digits and letters, in theory they could be connected to an individual and the entire history of all the bitcoins’ transactions traced. Italian computer engineer Michele Spagnuolo, for example, was able to trace a number of ransom payments for CryptoLocker. The gains have been impressive: He and academics from Politecnico di Milano speculate that up to 6,757 bitcoins — then worth around $6 million — could be linked to those behind CryptoLocker late last year. That estimate of their total takings, he says, could be very conservative. But the fact that such payments can be traced would raise a red flag for cyber-criminals, says Daniel Cohen of RSA, the security division of EMC, even though there are online services that can “launder” bitcoins to hide their origin. “Sure, there are Bitcoin laundering services, but still if I tie a wallet to an identity I can see every single movement,” he said. And, ironically, the success that some criminals have had in stealing bitcoins has made them less appealing to the underworld. RSA’s Cohen says his team monitoring underground forums has noticed that criminals lately see Bitcoin as “volatile, seizable and, with the recent thefts, unsafe.” Fixes needed That’s not to say Bitcoin is out of the woods. While the protocols underlying Bitcoin have proved themselves to work, the weak links have been the software containing the wallets, whether on exchanges or on individuals’ computers. “The attacks on the exchanges did not in themselves indicate any particular weakness of Bitcoin per se, but rather exploiting vulnerabilities within the exchanges,” says Raj Samani of Intel’s Internet security company McAfee. Such holes are being addressed, says Dell SecureWorks’ Stewart, pointing to such innovations as hardware wallets to replace software ones. “We’re just going to have to get into that mode of thinking,” he says. For now, Bitcoin remains a vulnerable target. That was illustrated when hackers breached Mt. Gox’s servers and its owner’s blog this week to post files purporting to be Mt. Gox’s transactions in Bitcoin stretching back to 2011. Amid the files lurked another surprise awaiting the unwary: a Bitcoin-stealing virus. (Editing by Ian Geoghegan) |
1,394,826,420 | 2014-03-14 19:47:00+00:00 | {"Bitcoin": [59, 268, 580, 737, 1303, 1401, 1669, 2038, 2328, 2424, 2948, 3088, 3161, 3210, 3344, 3427]} | {"Bitcoin": [0]} | Bitcoin Advertising Platform Cryptr.ch to Offer Start-up Financing and Advertising | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-advertising-platform-cryptr-ch-194700939.html | ACCESSWIRE | https://www.accesswire.com/ | The innovative Cryptr platform provides tools to help both Bitcoin start-ups and established cryptocurrency businesses increase traffic and earnings, and access financing opportunities worldwide March 14th, 2014 / Cryptr.ch aims to be the premier service to jumpstart Bitcoin and cryptocurrency businesses worldwide. The site offers a range of services for cryptocurrency start-ups including banner and text off-site ads, hosted advertising for webmasters, on-site network ads, paid-to-click ads, a traffic booster with profit share, a multi tier affiliate program, financing for Bitcoin startups, merchant services for businesses wishing to accept a variety of digital currencies and much more. Cryptr currently pays out in and accepts Bitcoin, Litecoin and Zetacoin: with plans to integrate many more alternative digital currencies in the near future. Cryptr.ch enables webmasters to maximize revenue from their online content with Cryptr off-site ads. These provide a free, flexible way to earn money from websites and mobile sites with relevant and engaging ads. Off-site network ad publishers receive up to 90% of all off-site ad revenue. Real time statistics are shown in the members’ area: webmasters can also display ads on their websites which are suited to their audience’s interests and earn Bitcoin from valid clicks or impressions. Every click is rewarded instantly via cryptocurrencies. Bitcoin businesses and advertisers can also purchase ads within the Cryptr Member and Ad-Watcher areas. In addition, banners will be in rotation within Cryptr.ch and partner websites, and also during login. For these on-site ads, members of Cryptr can also earn extra Bitcoin by visiting individual websites. Cryptr.ch also provides a new kind of Traffic Booster. Members are able to purchase traffic for their website: other members of the Booster are also able to surf the ad-watcher and view other members’ websites. There will also be a paid to read newsletter service for webmasters to promote their websites, and for users to earn Bitcoin, Litecoin and Zetacoin. Story continues Cryptr.ch’s micro and start-up financing system for digital currency businesses is based solely on cryptocurrencies . The financing can be fixed or supported by lifetime profit sharing through the system. The Cryptr.ch platform helps connect Bitcoin start-ups who require funding with angel investors: who are looking to both support the Bitcoin ecosystem, and generate solid returns on their investments. Real-time statistics on investments and returns are provided to investors. Cryptr.ch also offers a lucrative 3 tier affiliate program and there are plans for a member to member marketplace – similar to eBay but 100% cryptocurrency based. The marketplace will also offer member to member crypto to fiat currency trading with a wide selection of altcoins. Cryptr is also developing a merchant payment gateway solution for online businesses wishing to accept Bitcoin and many other digital currencies as payment methods on their sites – much like how BitPay operates today. With its huge variety of Bitcoin advertising opportunities, ways for crypto entrepreneurs to earn Bitcoin, its upcoming merchant services, and its Bitcoin start-up financing – Cryptr.ch is a truly unique resource for cryptocurrency websites and businesses worldwide. The ambitious Bitcoin advertising and micro-financing platform is an all in one solution for any Bitcoin, Litecoin and Zetacoin business worldwide which needs more traffic, exposure, funding and revenue. Visit http://cryptr.ch/ for more information. Contact Info Name: Konen Saarin Organization: Cryptr Email: [email protected] |
1,394,826,420 | 2014-03-14 19:47:00+00:00 | {"Bitcoin": [59, 268, 580, 737, 1303, 1401, 1669, 2038, 2328, 2424, 2948, 3088, 3161, 3210, 3344, 3427]} | {"Bitcoin": [0]} | Bitcoin Advertising Platform Cryptr.ch to Offer Start-up Financing and Advertising | https://finance.yahoo.com/news/bitcoin-advertising-platform-cryptr-ch-194700939.html | ACCESSWIRE | https://www.accesswire.com/ | The innovative Cryptr platform provides tools to help both Bitcoin start-ups and established cryptocurrency businesses increase traffic and earnings, and access financing opportunities worldwide March 14th, 2014 / Cryptr.ch aims to be the premier service to jumpstart Bitcoin and cryptocurrency businesses worldwide. The site offers a range of services for cryptocurrency start-ups including banner and text off-site ads, hosted advertising for webmasters, on-site network ads, paid-to-click ads, a traffic booster with profit share, a multi tier affiliate program, financing for Bitcoin startups, merchant services for businesses wishing to accept a variety of digital currencies and much more. Cryptr currently pays out in and accepts Bitcoin, Litecoin and Zetacoin: with plans to integrate many more alternative digital currencies in the near future. Cryptr.ch enables webmasters to maximize revenue from their online content with Cryptr off-site ads. These provide a free, flexible way to earn money from websites and mobile sites with relevant and engaging ads. Off-site network ad publishers receive up to 90% of all off-site ad revenue. Real time statistics are shown in the members area: webmasters can also display ads on their websites which are suited to their audiences interests and earn Bitcoin from valid clicks or impressions. Every click is rewarded instantly via cryptocurrencies. Bitcoin businesses and advertisers can also purchase ads within the Cryptr Member and Ad-Watcher areas. In addition, banners will be in rotation within Cryptr.ch and partner websites, and also during login. For these on-site ads, members of Cryptr can also earn extra Bitcoin by visiting individual websites. Cryptr.ch also provides a new kind of Traffic Booster. Members are able to purchase traffic for their website: other members of the Booster are also able to surf the ad-watcher and view other members websites. There will also be a paid to read newsletter service for webmasters to promote their websites, and for users to earn Bitcoin, Litecoin and Zetacoin. Story continues Cryptr.chs micro and start-up financing system for digital currency businesses is based solely on cryptocurrencies . The financing can be fixed or supported by lifetime profit sharing through the system. The Cryptr.ch platform helps connect Bitcoin start-ups who require funding with angel investors: who are looking to both support the Bitcoin ecosystem, and generate solid returns on their investments. Real-time statistics on investments and returns are provided to investors. Cryptr.ch also offers a lucrative 3 tier affiliate program and there are plans for a member to member marketplace similar to eBay but 100% cryptocurrency based. The marketplace will also offer member to member crypto to fiat currency trading with a wide selection of altcoins. Cryptr is also developing a merchant payment gateway solution for online businesses wishing to accept Bitcoin and many other digital currencies as payment methods on their sites much like how BitPay operates today. With its huge variety of Bitcoin advertising opportunities, ways for crypto entrepreneurs to earn Bitcoin, its upcoming merchant services, and its Bitcoin start-up financing Cryptr.ch is a truly unique resource for cryptocurrency websites and businesses worldwide. The ambitious Bitcoin advertising and micro-financing platform is an all in one solution for any Bitcoin, Litecoin and Zetacoin business worldwide which needs more traffic, exposure, funding and revenue. Visit http://cryptr.ch/ for more information. Contact Info Name: Konen Saarin Organization: Cryptr Email: [email protected] |
1,394,830,680 | 2014-03-14 20:58:00+00:00 | {"Bitcoin": [1925]} | {} | Uber, Lyft Expand Insurance to Cover Drivers Between Rides | https://finance.yahoo.com/news/uber-lyft-expand-insurance-cover-205800383.html | Entrepreneur | http://www.entrepreneur.com/ | As peer-to-peer ridesharing services Uber and Lyft continue to grow, so do questions about their liability – which is why the companies are taking new steps to make sure their drivers are protected. Lyft, whose drivers are recognizable by the pink mustaches affixed to the front of their vehicles, announced this week that it will now provide insurance protection for drivers who are available to give rides but haven't picked up any passengers. Until now, there were uncertainties about whether drivers were covered if they were active but didn't have passengers. Lyft, which is also in the process of raising $150 million in Series D funding , plans to roll out the new policy state by state. Related: 4 Hot Tech Startups to Watch in 2014 Uber is making a similar move for drivers in its UberX service, which competes with Lyft. A statement on the company's blog explained that, as of today, an UberX driver is covered so long as the app is live and the driver is free to offer a ride. However, this policy will go into effect only if the driver's personal insurance will not pay in the event of an accident. The company is currently facing a wrongful-death lawsuit, after a 6-year-old San Francisco girl was hit and killed by an Uber driver who was waiting for a fare on New Year's Eve. It's no coincidence that these changes are coming just ahead of Seattle's City Council passage of legislation requiring overarching regulation of the ridesharing industry. These changes are also in line with last month's announcement of the Peer-to-Peer Rideshare Insurance Coalition, which aims to find a way to best regulate the evolving transportation economy, counts Lyft, Sidecar and Uber as members , as well as providers like Allstate, Esurance and Farmers and the California Public Utilities Commission. Related: Uber in Hot Water Again Over Surge Pricing Revelations More From Entrepreneur 6 Big Things You Need to Know About Bitcoin This Week Why Can Some Businesses Get Away With High Prices? Target Falls for the Terrifying 'Thigh Gap' Trend and Totally Gets Busted View comments |
1,395,050,460 | 2014-03-17 10:01:00+00:00 | {"Bitcoin": [94, 415, 855]} | {"Bitcoin": [8]} | Alleged Bitcoin founder hires a lawyer in bid to 'clear his name' | https://finance.yahoo.com/news/2014-03-17-dorian-satoshi-nakamoto-denies-bitcoin-founder.html | Engadget | https://www.engadget.com/ | While Newsweek continues to stand by its claim that Dorian Satoshi Nakamoto is the founder of Bitcoin , the man at the center of the allegation has decided to lawyer up. Despite having already denied his involvement, Nakamoto has now shared a personal statement with Reuters to "clear [his] name" and make it clear how much he has suffered from Newsweek's report. Once believed to be in control of a million dollar Bitcoin fortune, the Californian resident detailed his struggle to find work, adding that the article has damaged his prospects of finding a job and caused him and his a family "a great deal of confusion and stress." Apparently, he even cut his internet connection last year, citing financial issues. Nakamoto says it'll be his first and final public word on the matter, but given the fact he's sought legal counsel, the supposed father of Bitcoin may have more to say behind closed doors. Dorian Nakamoto official statement/denial. Very interested to see how @newsweek @truth_eater @jimpoco respond. pic.twitter.com/wfCyK1dQ48 - felix salmon (@felixsalmon) March 17, 2014 [Image credit: anatacoins, Flickr ] |
1,395,061,200 | 2014-03-17 13:00:00+00:00 | {"Bitcoin": [50, 571, 1029, 1157, 1173, 1301, 1393, 1476, 1496, 1637, 1724, 1830, 1921, 3031]} | {"Bitcoin": [0]} | Bitcoin Shop Appoints Alliance Advisors as Its Investor Relations Firm | https://finance.yahoo.com/news/bitcoin-shop-appoints-alliance-advisors-130000244.html | Marketwired | http://www.marketwired.com/ | SILVER SPRING, MD--(Marketwired - Mar 17, 2014) - Bitcoin Shop, Inc. ( OTCQB : BTCS ), the virtual currency ecommerce marketplace www.bitcoinshop.us , today announced the appointment of Alliance Advisors, LLC ("Alliance Advisors") as its investor relations firm. Located in New York City, Alliance Advisors is a comprehensive investor relations, market intelligence, corporate communications and strategic consulting services firm that has represented well over 300 United States publicly listed companies located in the Americas, Asia, and Europe. Charles Allen, CEO of Bitcoin Shop, commented, "After careful consideration we are happy to begin working with the Alliance Advisors team on our financial communications strategy going forward. Their team has built an expertise in the digital currency industry, which will prove to be beneficial towards our messaging as our business and the industry continue to evolve. We look forward to working closely with their team." Valter Pinto, Partner of Alliance Advisors, commented, "Bitcoin Shop is uniquely positioned to facilitate ecommerce shopping and offer a virtual currency marketplace for those who own Bitcoin. Today, Bitcoin Shop offers over 140,000 products with strategic plans to expand its product offerings and categories. As the supply of Bitcoin increases along with the consumer's knowledge about digital currency, we anticipate Bitcoin Shop's first-mover technology to become increasingly more valuable." About Bitcoin Shop, Inc.: Bitcoin Shop, Inc. operates an ecommerce website ( www.bitcoinshop.us ) where consumers can purchase products using virtual currency such as Bitcoin, by searching through selection of over 400 categories and over 140,000 items. Bitcoin is a digital or virtual currency that uses a peer-to-peer network to facilitate instant payments. Bitcoin is categorized as a cryptocurrency, as it uses cryptography as a security measure. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allow users to make verified transfers. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its Bitcoin business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. |
1,395,068,165 | 2014-03-17 14:56:05+00:00 | {"Bitcoin": [0]} | {} | Cyber Security Yahoo Finance | https://finance.yahoo.com/news/cyber-security-%E2%80%94-yahoo-finance-145606243.html | Yahoo Finance | http://finance.yahoo.com/ | Bitcoin regulations from around the world Identity theft leads top consumer complaints in U.S. |
1,395,083,342 | 2014-03-17 19:09:02+00:00 | {"Bitcoin": [2492]} | {} | S-E-L-F-I-E for 9? Scrabble Fans Compete for New Word | https://finance.yahoo.com/news/e-l-f-e-9-190902847.html | Money Talks News | http://www.moneytalksnews.com | Kwyjibo – a big, dumb, balding North American ape, with no chin and a short temper. Quite a few Scrabble fans are pushing for kwyjibo – a “word” coined by Bart Simpson in a family Scrabble game – to be added to the official Scrabble Dictionary. K-W-Y-J-I-B-O would earn a player 22 points. It’s just one of hundreds of words nominated in the first official Scrabble Word Showdown. Scrabble manufacturer Hasbro is accepting nominations for a new word on its Game Night Facebook page. The last update to the Scrabble dictionary was nine years ago. Have a word in mind? You have until March 28 to submit your nomination. On April 2, in a March Madness-style bracket, Hasbro will unveil 16 finalists, said NPR’s Here & Now. Fans can vote for their favorite, and the new official Scrabble word will be announced April 10. Bazinga, twerk, jedi, ew, fracking, bitcoin – just a sampling of the words nominated on Facebook so far. John Chew, co-president of the North American Scrabble Players Association, told Here & Now: My email inbox has been overflowing ever since we put out the announcement. My phone has been ringing off the hook. This is huge news within the Scrabble community, because we’ve never done anything like this before. Ew gets my vote, and, according to an interview with Merriam-Webster editor-at-large Peter Sokolowski on Slate, it has a good chance of making it to the Scrabble “Sweet 16.” If you want the new word to be both lexicographically defensible and highly useful in Scrabble, vote for ew or zen. The latter has until now been excluded as a proper noun, but Sokolowski says there are plenty of lowercase citations. “It’s on the shortest of the short lists,” he says. But he’s even more excited about ew, for which citations go back to the 1970s. “It’s absolutely valid. It’s an interjection with a real meaning. It’s used in lots of sources. It’s a great example of the kind of word that we watch closely for entry.” Looking for some inexpensive fun this summer? The updated Scrabble dictionary will be out in August, just in time for a late summer game night party. Impress your friends and family with your new Scrabble-approved words. Do you have any Scrabble word ideas? Share your ideas below or on our Facebook page and don’t forget to post your nomination on the Hasbro Game Night Facebook page by March 28. This article was originally published on MoneyTalksNews.com as 'S-E-L-F-I-E for 9? Scrabble Fans Compete for New Word' . More from Money Talks News Has Bitcoin's Founder Been Revealed? 14 Ways to Have More Fun for Less Money Girl Scouts Urged to Boot Barbie View comments |
1,395,086,700 | 2014-03-17 20:05:00+00:00 | {"Bitcoin": [185, 503, 1488, 1595, 3669, 5642, 6452]} | {} | WPCS Announces Financial Results for the Three and Nine Month Periods Ending January 31, 2014 | https://finance.yahoo.com/news/wpcs-announces-financial-results-three-200500990.html | Marketwired | http://www.marketwired.com/ | EXTON, PA--(Marketwired - Mar 17, 2014) - WPCS International Incorporated ( WPCS ), which specializes in contracting services for communications infrastructure and the development of a Bitcoin trading platform, today announced its fiscal 2014 financial results for the three and nine month periods ending January 31, 2014. Sebastian Giordano, Interim CEO of WPCS, commented, "Since the launch of BTX Trader ("BTX") in December 2013, we have continued to make significant progress in the roll-out of our Bitcoin trading platform. Today, our platform remains available for free download on our Windows-based desktop application. The next phase of our platform development is to allow access to the beta version via the web. We will begin generating revenue from this platform during the second quarter of calendar year 2014." Mr. Giordano continued, "In addition to the successful beta launch of BTX, our primary objective continues to be in stabilizing operations, improving cash flow and strengthening our balance sheet. Since implementing an aggressive turnaround strategy in August 2013, we have made significant strides, in part, by divesting and closing underperforming operations, reducing expenses and improving performance in our ongoing contracting operations. We believe this strategy has and will continue to improve our financial condition and be beneficial towards future shareholder value." Year-to-Date Company Highlights: Acquired BTX, the first trading platform to enable Bitcoin traders and industry researchers to access market data and execute orders on the five most popular Bitcoin exchanges on a single application; Launched the beta version Windows-based trading platform available at www.btxtrader.com ; Achieved a 26.1% increase in YTD revenues from its remaining continuing operations within its legacy business, including a 27.3% increase from our two profitable domestic subsidiaries; Increased shareholders' equity by approximately $8.1 million from a deficit of approximately $900,000 at April 30, 2013 to equity of approximately $7.2 million at January 31, 2014; and, Improved working capital by approximately $2.6 million, from a deficit of $500,000 at April 30, 2013 to a positive position of $2.1 million at January 31, 2014, which consisted of current assets of $16.6 million and current liabilities of approximately $14.5 million. Story continues Financial Results for the Three Month Period Ending January 31, 2014 For the third quarter of fiscal year 2014 ended January 31, 2014, WPCS reported revenue of approximately $8.3 million, an increase of 9.5% compared to revenue of $7.6 million for the same period in the prior year. This increase was partially offset by an $835,000 decrease in revenue in our Trenton Operations due to the strategic wind-down of this unprofitable operation, which commenced in September 2013. Excluding the decrease for the Trenton Operations, the effective increase in revenue from the remaining Suisun City, Seattle and China operations was approximately 23.2%. For the third quarter ended January 31, 2014, WPCS reported a net loss to common shareholders of approximately $3.6 million or $0.55 per diluted share, of which approximately $3.4 million of the net loss was attributable to: $2.5 million of non-cash interest expense charges related to the accelerated amortization of debt discount from the conversion its senior secured convertible notes during the third quarter and which do not affect the operating cash flow of the Company; a $290,000 loss from discontinued operations for the Australia, Lakewood and Hartford Operations; operating losses of $347,000 from the initial start-up of the Bitcoin trading segment; and operating losses of $248,000 from the wind-down of the Trenton Operation. The net loss for the third quarter ended January 31, 2014, compares to a net loss of $1.2 million, or $1.24 per diluted share, for the same period one year ago. Financial Results for the Nine Month Period Ending January 31, 2014 Revenue for the nine months ended January 31, 2014 was approximately $23.5 million, as compared to $26.8 million for the nine months ended January 31, 2013. This decrease in revenue was due primarily to an $8.1 million decrease in revenue in our Trenton Operations due to the strategic wind-down of this unprofitable operation that commenced in September 2013. Excluding the decrease for the Trenton Operations, the effective increase in revenue from the remaining Suisun City, Seattle and China Operations was approximately 26.1%. The net loss attributable to common shareholders was approximately $10.0 million, or $3.41 per diluted share, for the nine months ended January 31, 2014, of which approximately $9.0 million was attributable to: one-time charges of $1.5 million related to severance expense recorded per the separation agreement with former CEO Andrew Hidalgo; $4.3 million of non-cash interest expense for the amortization of debt discount and expenses related to the conversion of senior secured convertible notes (the "Notes") and the amendments to the Notes and Warrants (the "Amendment and Note Amendment"); $1.3 million related to the loss on extinguishment of the Notes; $834,000 related to the final change in fair value of the derivative liabilities associated with the Notes and Warrants prior to the Amendment and Note Amendment, which enabled us to reclassify the former derivative liabilities to stockholders' equity; a net loss of approximately $330,000 from discontinued operations for the Australia, Lakewood and Hartford Operations ; approximately $347,000 in operating losses from the initial start-up of the Bitcoin trading segment; and approximately $366,000 of operating losses from the wind-down of the Trenton Operation. Such net loss for the nine months ended January 31, 2014, compares to a net loss attributable to common shareholders of $724,000, or $0.73 per diluted share, for the nine months ended January 31, 2013. Shareholder Update Conference Call Management will host a shareholder update conference call in early April 2014. Details, including dial-in and webcast information, will be provided in an upcoming news release prior to the call. About WPCS International Incorporated WPCS operates in two business segments including: (1) providing communications infrastructure contracting services to the public services, healthcare, energy and corporate enterprise markets worldwide; and (2) developing a Bitcoin trading platform. For more information, please visit www.wpcs.com and www.btxtrader.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements. WPCS INTERNATIONAL INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Nine Months Ended January 31, January 31, 2014 2013 2014 2013 (Note 1) (Note 1) (Note 1) REVENUE $ 8,296,132 $ 7,573,275 $ 23,483,259 $ 26,819,535 COSTS AND EXPENSES: Cost of revenue 6,227,892 5,173,016 17,574,888 19,141,228 Selling, general and administrative expenses 2,278,433 1,674,268 6,116,248 5,830,550 Severance expense - - 1,474,277 - Depreciation and amortization 214,212 268,388 672,164 840,674 8,720,537 7,115,672 25,837,577 25,812,452 OPERATING (LOSS) INCOME (424,405 ) 457,603 (2,354,318 ) 1,007,083 OTHER EXPENSE: Interest expense 2,680,909 867,362 4,922,547 1,308,375 Loss on extinguishment of Notes - - 1,299,304 - Change in fair value of derivative liabilities - 702,574 833,750 702,574 Loss from continuing operations before income tax provision (benefit) (3,105,314 ) (1,112,333 ) (9,409,919 ) (1,003,866 ) Income tax provision (benefit) 104,225 (14,556 ) 122,513 (79,732 ) LOSS FROM CONTINUING OPERATIONS (3,209,539 ) (1,097,777 ) (9,532,432 ) (924,134 ) Discontinued operations: (Loss) from operations of discontinued operations, net of tax (benefit) provision of $0, ($199,175), $0, and $70,689, respectively (185,495 ) (59,324 ) (225,242 ) (1,543,466 ) (Loss) gain from disposal (104,446 ) (12,880 ) (104,446 ) 1,826,539 (Loss) income from discontinued operations, net of tax (289,941 ) (72,204 ) (329,688 ) 283,073 CONSOLIDATED NET LOSS (3,499,480 ) (1,169,981 ) (9,862,120 ) (641,061 ) Net income attributable to noncontrolling interest 49,439 54,317 52,873 82,922 NET LOSS ATTRIBUTABLE TO WPCS $ (3,548,919 ) $ (1,224,298 ) (9,914,993 ) $ (723,983 ) Dividend declared on preferred stock $ (36,993 ) - $ (36,993 ) - NET LOSS ATTRIBUTABLE TO WPCS COMMON SHAREHOLDERS $ (3,585,912 ) $ (1,224,298 ) (9,951,986 ) $ (723,983 ) Basic and diluted net (loss) income attributable to WPCS common shareholders: (Loss) from continuing operations $ (0.51 ) $ (1.16 ) $ (3.30 ) $ (1.01 ) (Loss) income from discontinued operations $ (0.04 ) $ (0.08 ) $ (0.11 ) $ 0.28 Basic and diluted net loss per common share $ (0.55 ) $ (1.24 ) $ (3.41 ) $ (0.73 ) Basic and diluted weighted average number of common shares outstanding 6,475,773 994,187 2,916,425 994,187 WPCS INTERNATIONAL INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS January 31, April 30, ASSETS 2014 2013 (unaudited) (Note 1) CURRENT ASSETS: Cash and cash equivalents $ 2,069,450 $ 915,752 Restricted cash - 1,869,178 Accounts receivable, net of allowance of $998,493 and $1,107,593 at January 31, 2014 and April 30, 2013, respectively 9,427,733 7,085,969 Costs and estimated earnings in excess of billings on uncompleted contracts 996,389 1,079,367 Deferred contract costs 2,073,562 1,597,894 Prepaid expenses and other current assets 383,643 142,307 Current assets held for sale 1,707,332 1,905,449 Total current assets 16,658,109 14,595,916 PROPERTY AND EQUIPMENT, net 2,185,131 2,754,734 CAPITALIZED SOFTWARE COSTS 3,124,741 - OTHER INTANGIBLE ASSETS, net - 16,228 OTHER ASSETS 78,467 227,259 OTHER ASSETS HELD FOR SALE 329,725 550,829 Total assets $ 22,376,173 $ 18,144,966 WPCS INTERNATIONAL INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (continued) LIABILITIES AND EQUITY January 31, April 30, 2014 2013 (unaudited) (Note 1) CURRENT LIABILITIES: Current portion of loans payable $ 51,617 $ 43,942 Senior secured convertible notes, net of debt discount of $875,876 and $2,888,889, January 31, 2014 and April 30, 2013, respectively 22,462 1,111,111 Derivative liability - senior secured convertible notes - 3,088,756 Accounts payable and accrued expenses 4,763,502 4,102,050 Accrued severance 1,300,000 - Billings in excess of costs and estimated earnings on uncompleted contracts 1,656,874 1,619,307 Deferred revenue 294,827 113,503 Due related party 799,116 - Other payable to Zurich 1,533,757 1,743,986 Short-term bank loan 3,279,300 2,432,205 Income taxes payable 11,371 139,557 Dividend payable 36,993 - Current liabilities held for sale 789,555 685,631 Total current liabilities 14,539,374 15,080,048 Loans payable, net of current portion 643,603 133,838 Derivative liability - warrants - 3,858,508 Total liabilities 15,182,977 19,072,394 COMMITMENTS AND CONTINGENCIES EQUITY: WPCS EQUITY (DEFICIT): Preferred stock - $1,000 stated value, 5,000,000 shares authorized, 2,438 issued liquidation preference of $7,030,000 2,438,000 - Common stock - $0.0001 par value, 14,285,714 shares authorized, 13,913,164 and 994,187 shares issued and outstanding at January 31, 2014 and April 30, 2013, respectively 1,391 99 Additional paid-in capital 66,671,222 50,844,183 Accumulated deficit (64,006,375 ) (54,054,389 ) Accumulated other comprehensive income on foreign currency translation 1,177,794 1,433,541 Total WPCS equity (deficit) 6,282,032 (1,776,566 ) Noncontrolling interest 911,164 849,138 Total equity (deficit) 7,193,196 (927,428 ) Total liabilities and equity $ 22,376,173 $ 18,144,966 Note 1. Certain reclassifications have been made to prior period results to conform to the current period presentation. |
1,395,155,133 | 2014-03-18 15:05:33+00:00 | {"Bitcoin": [40, 66, 214, 320, 862, 1559, 2351, 2470]} | {"Bitcoin": [27]} | This Has To Be The Easiest Bitcoin Heist Of All Time | https://finance.yahoo.com/news/easiest-bitcoin-heist-time-150533571.html | Business Insider | http://www.businessinsider.com/ | dumb dumber scooter Screenshot Canadian Bitcoins, an Ottawa-based Bitcoin exchange, was defrauded of more than $100,000 worth of the digital currency in a comically low-tech heist, reports the Ottawa Citizen . The Bitcoin thief started a customer service chat session with Granite Networks, the company hosting Canadian Bitcoins' server, and claimed to have a problem with it. The server was rebooted in safe mode, which bypassed the all-important security measures that would normally keep it safe. The rest was a cinch: According to a text copy of the chat session obtained by the Citizen, at no point during the nearly two-hour-long conversation was the caller asked to verify his identity. After being asked, the technical support worker gained access to Grants locked server pen, plugged in a laptop and then manually gave the fraudster access to Canadian Bitcoins servers, where he cleaned out a wallet containing 149.94 bitcoins, valued at around $100,000. James Grant is the proper owner and he's obviously displeased with how the situation was handled. "Its completely ridiculous," he told the Citizen. "All they did was go on the chat session and say, Hi, Im James Grant and I have a server with you and the data centre said, Yes you do, what can we do for you?" The unfortunate irony here is that the Citizen describes Granite Networks' server facility as being " built to some of the highest security standards in the industry." Yet t he story effectively boils down to this: a thief claiming to be the rightful owner of a server containing Bitcoins asked for access and was pretty much granted it. After that he did what thieves do and took off with the loot. Parent company Rogers Communication issued a statement surrounding the incident: The situation surrounding this customer is unique to this customer, and does not apply to any other customer of Rogers Data Centres. Rogers has been fully co-operative with authorities in the investigation. Rogers Data Centres provides the highest level of security in the Canadian data centre industry. Its security protocol is operationally certified and in accordance with industry best practices. We have reviewed our security processes and continue to work with our customers to make sure they take advantage of all of our security features. More From Business Insider A Guy Who Owns A Bitcoin-Only Electronics Store Is Revealing Everything On Reddit A Company Innovating The Way We Pay For Stuff Ditched Bitcoin And Concentrated On The Dollar Instead Carnegie Mellon Has A Scrabble-Playing Trash-Talking Robot Named Victor |
1,395,164,609 | 2014-03-18 17:43:29+00:00 | {"Bitcoin": [2455, 3276, 4073, 4702, 5486]} | {} | Why Warren Buffett is wrong on bitcoin | https://finance.yahoo.com/news/why-warren-buffett-wrong-bitcoin-174329598.html | CNBC | http://www.cnbc.com/ | Why Warren Buffett is wrong on bitcoin Warren Buffett said bitcoin "is a mirage" and compared it to checks and money orders. "A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? ... The idea that [bitcoin] has some huge intrinsic value is just a joke in my view," Buffett said on CNBC last week. ( Read more : Buffett blasts bitcoin as 'mirage': 'Stay away!' ) A statement as bold and dismissive as his should be countered, because if Mr. Buffett believes what he is saying, then he is vulnerable to misleading millions of people. My generation grew up looking to the "Oracle of Omaha," as he's known, as a wise sage of finance. And so it is with the utmost respect that I must correct his analogies and his prediction that bitcoin is a mirage. People who listen to him on bitcoin are missing the opportunity to understand a system that is truly better than the one we have now. In 2013, if you had put your money with Berkshire Hathaway (NYSE: BRK-A - News ) your investment would have appreciated 23 percent, while bitcoin surged 4900 percent. Those are returns that are orders of magnitude greater, and no investor should ignore that fact. It is easy to act dismissive about bitcoin. The technology is sophisticated and most people have a preconceived notion that bitcoin is lawless territory, a sort of "hacker heaven." I am fortunate enough to have friends and colleagues who have studied computer science and are highly knowledgeable about encryption, and distributed computing. They have spent hours with me teaching me about the inner workings and benefits of the bitcoin protocol and Blockchain technology, which is a record that shows where bitcoin are located. Before finding capable teachers, I was skeptical as well. The learning process took time, I had to suspend my disbelief and I had to learn things that were difficult for me to conceptualize, but I did it because people I respect said it was worth my attention. Story continues ( Read more : Man identified as bitcoin creator denies role ) My business-consulting firm Articulate Ventures has been paid in bitcoin for real work that we did. And with those bitcoin we bought office supplies from Overstock.com (NASDAQ: OSTK - News ) . Mirages don't turn into dry erase boards, or office pens, only money does that. I assure you bitcoin is real to my clients - and the stores I purchase things from. Bitcoin is also not a mirage to the one million people with wallets registered on Coinbase. It is real to all of the people who push $12 million dollars of volume through the bitcoin network daily, and counting. And it is real to the estimated 6,000 Argentinians who can still afford to feed their families because they bought bitcoin before their currency collapsed. Mr. Buffett is wrong to analogize bitcoin as a check or money order because bitcoin does not represent money, it IS money. If someone sent me a check for $100, that check is just a promise to give me dollars. When someone sends me bitcoin, it is instantly spendable in its current form. I need not "cash a check" because bitcoin is already money. Do not think of bitcoin as a means to transfer dollars, it holds value by itself and it is highly liquid. Bitcoin allows us to instantly send money to one another securely, without relying on a financial middleman who works bankers' hours, charges transfer fees, and gambles with depositor's money with the potential to do harm to the economy and needs to be bailed out with tax dollars. The fact is that the financial system is outdated. Thousands fall victim to credit fraud every day. Merchants who accept those cards pay 2.7 percent off the top, and banks charge anywhere from $10 to $50 for wire transfers, and transactions take days to settle. Merchants can accept bitcoin for fractions of a percent, and transactions settle in 10 minutes. These are innovations that have will enable more people to participate in the economy. It is also critical that we not view Mt. Gox as a failure of bitcoin. Bitcoin did not fail; its encryption was not hacked. Instead, it was a failure of the people running an exchange. The rugged beauty of the bitcoin system is that individuals are responsible for their own investments. We do not live under the belief that someone will bail us out if something happens, so we take security on as a personal moral responsibility. Our world is better when individuals take responsibility for themselves. ( Read more : Mind your wallet: Why the underworld loves bitcoin ) I know Mr. Buffett claims to only invests in things he understands, so I hope he will take the time to learn more about bitcoin. Bitcoin performs all the necessary functions of money. It is a unit of account, a store of value, it is easily transferable and divisible. Unlike government printed currencies, it is immune to debasement from any government that isn't fiscally responsible enough to pay their bills. My generation has learned a great deal from Mr. Buffett's proven strategy of investing, so it is difficult to suggest that he is wrong about something. Mr. Buffett did so much with the currency we had before, I can't even imagine what he will do with a currency that has these qualities. The future is always uncertain, that is why mankind is always searching for an oracle, even though we know there is no such thing. We can only look at what is happening around us and learn about what is possible. Bitcoin is gaining more ground than ever before and no one should dismiss the awesome power of cryptographic currency. Even if you aren't ready to buy, it is absolutely worth paying attention to. Now is the time to learn. Vance Crowe is founder of Articulate Ventures a business-consulting firm in Saint Louis, Missouri that specializes helping clients differentiate themselves. Vance is a former communications strategist at the World Bank Group. Follow him on Twitter @VanceCrowe . Disclosure: Articulate Ventures has not done any consulting work for bitcoin-related businesses but has had retainer contracts paid for in bitcoin. Vance holds bitcoin privately. More From CNBC Next to use Google Glass: Your stewardess Beastie Boys, start-up settle 'Girls' song dispute These states may make community college costs free |
1,395,174,902 | 2014-03-18 20:35:02+00:00 | {"Bitcoin": [2698]} | {} | Market Wrap For March 18: Markets Positive Despite Crimea Concerns | https://finance.yahoo.com/news/market-wrap-march-18-markets-203502693.html | Benzinga | http://www.benzinga.com/ | U.S. stocks extended Monday's gains despite lingering concerns over Crimea. Russian President Vladimir Putin has authorized a draft treaty for Crimea to join Russia. U.S. economic data showed that housing starts in February remain healthy with modest gains. The Dow gained 0.55 percent, closing at 16,336.19. The S&P 500 gained 0.76 percent, closing at 1,872.89. The Nasdaq gained 1.23 percent, closing at 4,332.60. Gold lost 1.25 percent, trading at $1,355.80 an ounce. Oil gained 1.7 percent, trading at $99.70 a barrel. Silver lost 2.12 percent, trading at $20.83 an ounce. News of Note ICSC Retail Store Sales rose 0.7 percent week over week and rose 1.5 percent year over year. February Consumer Price Index rose 0.1 percent, in-line with expectations. Core CPI also rose 0.1 percent, in-line with expectations. February Housing Starts totaled 907,000, below the 910,000 expected. Redbook Chain Store Sales rose 2.8 percent year over year compared to a 2.5 percent rise recorded last week. Average new home prices in 70 major Chinese cities rose 8.2 percent year over year in February, following January's 9 percent year over year rise. Analyst Upgrades and Downgrades of Note Analysts at Citigroup maintained a Buy rating on Amgen (NASDAQ: AMGN ) with a price target raised to $155 from a previous $139. Shares hit new 52 week highs of $127.48 before closing the day at $127.47, up 2.91 percent. Analysts at Deutsche Bank maintained a Buy rating on Anadarko Petroleum (NYSE: APC ) with a price target raised to $112 from a previous $110. Shares gained 1.29 percent, closing at $83.28. Analysts at Jefferies maintained a Hold rating on Citigroup (NYSE: C ) with a price target lowered to $56 from a previous $60. Shares gained 0.84 percent, closing at $48.13. Analysts at Barclays initiated coverage of Coach (NYSE: COH ) with an Equal-weight rating and a price target of $52. Shares gained 1.60 percent, closing at $50.23. Analysts at Barclays downgraded Cisco Systems (NASDAQ: CSCO ) to Equal-weight from Overweight with a price target lowered to $23 from a previous $25. Shares gained 0.56 percent, closing at $21.63. Story continues Analysts at CRT Capital maintained a Buy rating on Electronic Arts (NYSE: EA ) with a price target raised to $35 from a previous $29. Shares gained 0.43 percent, closing at $30.23. Analysts at Barclays upgraded Hewlett-Packard (NYSE: HPQ ) to Overweight from Equalweight with a price target raised to $38 from a previous $33. Shares gained 3.80 percent, closing at $30.57. Analysts at Barclays initiated coverage of Nordstrom (NYSE: JWN ) with a price target of $65. Shares gained 0.52 percent, closing at $62.41. Recommended: Warren Buffett's Conflicting Bitcoin Views Analysts at Barclays maintained an Underweight rating of KB Home (NYSE: KBH ) with a price target lowered to $16 from a previous $18. Shares gained 2.32 percent, closing at $17.67. Analysts at Barclays initiated coverage of Michael Kors Holdings (NASDAQ: KORS ) with an Underweight rating and a price target of $85. Shares lost 1.82 percent, closing at $96.77. Analysts at Barclays maintained an Overweight rating of Microsoft (NASDAQ: MSFT ) with a price target raised to $44 from a previous $43. Shares hit new 52 week highs of $39.90 before closing the day at $39.56, up 3.97 percent. Analysts at Barclays initiated coverage of PVH Corp (NYSE: PVH ) with a price target of $140. Shares gained 2.35 percent, closing at $119.03. Analysts at Barclays initiated coverage of Ralph Lauren (NYSE: RL ) with an Overweight rating and a price target of $180. Shares gained 1.40 percent, closing at $163.71. Analysts at Maxim Group downgraded Sina (NASDAQ: SINA ) to Hold from Buy with a price target of $90. Shares lost 2.18 percent, closing at $67.33. Analysts at Goldman Sachs maintained a Neutral rating on Tesla Motors (NASDAQ: TSLA ) with a price target raised to $200 from a previous $170. Shares hit new 52 week highs of $241.50 before closing the day at $240.04, up 2.59 percent. Equities-Specific News of Note Caesars Entertainment (NYSE: CZR ) received a preliminary casino license in South Korea. The company intends to partner with a Hong Kong partner Lippo and built a $2.15 billion resort on Yeongjong island. Shares gained 3.18 percent, closing at $24.67. Hertz Global (NYSE: HTZ ) will spin-off its construction rental business. Hertz on Tuesday put an end to speculation and confirmed its intentions to spin-off its equipment rental business for $2.5 billion. Shares lost 0.51 percent, closing at $27.08. Related: Hertz Confirms Monday's Market Chatter, Announces Spin-Off Plans Tom Conrad, Pandora's (NYSE: P ) CTO/EVP of product will step down in three months following a ten year run with the company. Conrad said that the move was planned 18 months ago and he will transition to an adviser role. Shares lost 0.37 percent, closing at $34.98. The FDA extended its decision to approve Biogen's (NYSE: BIIB ) Plegridy treatment for relapsing forms of multiple sclerosis by three months. Shares hit new 52 week highs of $354.07 before closing the day at $351.94, up 1.83 percent. Exxon Mobil (NYSE: XOM ) is preparing to invest $20 billion in a gas-fired power project in Vietnam. Shares gained 0.41 percent, closing at $94.71. Consolidated Edison (NYSE: ED ) may be investigated following last week's gas explosion in Manhattan to determine if the company's negligence caused the explosion. Shares lost 1.16 percent, closing at $54.41. 3M (NYSE: MMM ) is forecasting its revenue from China to grow 15 percent over the next five years. Shares gained 0.36 percent, closing at $132.74. According to the Wall Street Journal , Amazon.com (NASDAQ: AMZN ) is set to begin delivering its video streaming device in early April. Shares gained 0.99 percent, closing at $378.77. Apple (NASDAQ: AAPL ) released an 8GB iPhone 5C for European markets and the company announced that it will discontinue the iPad 2 and begin offering the 4th generation iPad at the iPad 2's old price. Shares gained 0.88 percent, closing at $531.40. Related: iPhone 6 Rumors Coming At A Dizzying Pace Novartis (NYSE: NVS ) is in talks to acquire Israeli stem-cell treatments developer Gamida-Cell with a price tag as high as $600 million. Shares gained 0.60 percent, closing at $82.64. According to Bloomberg , General Motors (NYSE: GM ) notified dealers as far back as 2005 that ignition switches in several models could turn a car engine off. FMC Corp (NYSE: FMC ) said that harsh winter weather has resulted in a later than usual demand pattern for its crop protection products. As a result the company's first quarter operating profit could decline in the mid-20 percent range year over year. Shares lost 0.84 percent, closing at $79.11. Wal-Mart (NYSE: WMT ) on Tuesday announced that it will launch a used video game exchange program. Customers will be able to trade in old video games in exchange for store credit beginning on March 26. Wal-Mart's move into the used game space places tremendous pressure on GameStop (NYSE: GME ) whose trade-in program is the company's bread and butter. Shares of Wal-Mart gained 0.12 percent, closing at $74.77 while GameStop lost 3.42 percent, closing at $38.39. Related: Wal-Mart Entering Used Game Space; GameStop Under Pressure? Winners of Note According to Marbridge Consulting, New Oriental (NYSE: EDU ) is planning a joint-venture with Tencent to create an online education company. Shares gained 8.58 percent, closing at $29.35. Yandex (NASDAQ: YNDX ) has acquired KitLocate, an Israeli developer of geo-fencing and motion detection technology that can be used in mobile apps. Yandex intends to combine KitLocate's products with its already existing services and apps. Shares gained 6.73 percent, closing at $32.03. Soros Fund Management disclosed a 9.18 percent active stake in Penn Virginia (NYSE: PVA ) and noted that the company should seek strategic alternatives to maximize shareholder value. Shares hit new 52 week highs of $16.00 before closing the day at $15.73, up 15.58 percent. Decliners of Note This morning, Yingli Green Energy Holding (NYSE: YGE ) reported its fourth quarter results. The company announced an EPS of -$0.31, missing the consensus estimate of -$0.17. Revenue of $613 million missed the consensus estimate of $651.55 million. Gross profit for the quarter fell to RMB 451.7 million ($74.6 million) from RMB 498.8 million in the third quarter of 2013 but up from RMB 247.8 million in the same quarter last year. Gross margin also fell from the previous quarter from 13.7 percent to 12.2 percent, but compares favorably to a gross margin of negative 8.5 percent in the same quarter last year. Shares lost 8.31 percent, closing at $5.41. Earnings of Note This morning Hertz Global (NYSE: HTZ ) reported its fourth quarter results on Tuesday morning. The company announced an EPS of $0.26, missing the consensus estimate of $0.31. Revenue of $2.55 billion missed the consensus estimate of $2.62 billion. Net income fell to $121.1 million in the quarter from $139.1 million in the same quarter last year, partially due to higher expenses related to carrying extra fleet. Shares lost 0.51 percent, closing at $27.08. Recommended: 'Investor Behavior' Author Victor Ricciardi Dissects The Psychology of Traders Adobe Systems (NASDAQ: ADBE ) reported its first quarter results shortly before the markets closed. The company announced an EPS of $0.30, beating the consensus estimate of $0.25. Revenue of $1 billion beat the consensus estimate of $0.973 billion. Shares gained 0.51 percent, closing the day at $68.52. After the market closed, SolarCity (NASDAQ: SCTY ) reported its fourth quarter results. The company announced an EPS of -$0.46, beating the consensus estimate of -$0.56. Revenue of $47.3 million beat the consensus estimate of $45.27 million. Shares were trading lower by 1.04 percent at $76.30 following the earnings release. Quote of the Day “It isn't easy to defeat Icahn”- Carl Icahn referencing himself in a new letter written to eBay stockholders today. Related Links Oracle's Future May Be In The Cloud, But Its Q3 Results Weren't Sky-High Amgen Scores Again with PCSK9 Inhibitor - Analyst Blog Alibaba to launch IPO in the US © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
1,395,175,740 | 2014-03-18 20:49:00+00:00 | {"Bitcoin": [31, 148, 180, 527, 750, 881, 1296, 1368, 1410, 1664, 1816, 1967, 2148, 2265, 2727, 2814, 4146, 4270, 4952, 6201, 6256, 6295]} | {"Bitcoin": [60]} | Meet The Company That's Trying To Offer All The Benefits Of Bitcoin But Without All Of The Headaches | https://finance.yahoo.com/news/meet-company-thats-trying-offer-204952231.html | Business Insider | http://www.businessinsider.com/ | ripple Ripple Most people know Bitcoin as a digital currency, with a value that has fluctuated wildly over the past six months. But there's more to Bitcoin than just the currency. Bitcoin has gotten an equal amount of attention for its novel technology. You don't need a third party to perform a transaction (although as a practical matter many now use one of the various consumer wallet sites). All transactions are noted on a ledger, meaning you're no longer subject to the-check-is-in-the-mail risk. And unlike a real bank, Bitcoin is basically neutral on the price and time that it takes to process an overseas or large transaction. Even Goldman Sachs analysts — who in a recent report otherwise came off pretty bearish on the currency aspect of Bitcoin — said the technology could prove useful. So it was only a matter of time before someone carved out all the meaty parts of Bitcoin while leaving the gristle for others. Enter Ripple, which indeed captures the three aforementioned elements of the cryptocurrency's underlying structure. But it does more than that: Its technology allows users to execute a transaction from any currency into another simultaneously, while eliminating exchange-rate risk. Users are also able to hang onto their fiat, rather than having to separately purchase Bitcoin. This helps eliminate the security problems experienced by some Bitcoin wallet service users. And whereas Bitcoin transactions take at least 10 minutes to confirm, Ripple confirmations are instant, thanks to its use of a consensus algorithm; the Ripple network is a closed system, so only approved "nodes," which would approve the transaction, can access it. "Bitcoin solved the double-spend problem," Ripple CEO Chris Larsen told BI recently. "The key problem was payment confirmation without central clearing. Bitcoin's solution was ingenious but wasteful — it's fairly slow, and you can't put other things on it. It's premised on forcing the world to adopt to Bitcoin, which is like making everyone switch to Esperanto." Story continues Susan Athey, a Stanford economist and paid adviser to Ripple, explained another key distinction between Bitcoin and Ripple. While the former is based on a community, the latter is designed to solve problems of commerce. "Bitcoin is sort of an open-source movement that is bootstrapping and getting big through the enthusiasm of a whole variety of different communities. It's a user-driven phenomenon. That's a great way to get a platform going, but another way to build a platform is to solve problem of a particular customer extremely well, and if it's a large customer, then all in one go you get a lot of adoption and utilization. Then smaller users follow." She continued: "With Bitcoin, we know it's amazing, and they can both be very effective. But what parts of [Bitcoin] are really necessary? Do I really need the mining ... the anonymity [is problematic] ... what is the essence of the system?" Ripple's pedigree is impressive. Google Ventures and Andreessen Horowitz are both backers. The CEO of China-based IDG Capital, which invests in some of China's largest tech firms, said upon completing his round: "We are excited about the prospect for a global payments system that powers instant, free, and secure transactions in any currency." It's extremely early in Ripple's life span, as far as widespread use goes. The basic structure of the technology is a decade old, but Ripple Labs (originally known as OpenCoin Inc.), the corporation that now owns Ripple, was only launched in 2012. And they only opened it up for developers to build on top of last fall. Though at $1.4 billion Ripple has the No. 2 market cap in the digital currency world , that's only because all Ripple coins have been 'pre-mined,' meaning all the coins that will ever come into existence have been created, by Ripple itself. (And again, the coins are largely perfunctory for users simply looking to use the network to send payments — they're basically just temporary vehicles for your fiat). As a result, it's hard to find folks running Ripple. The largest is actually Bitstamp, now the world's largest dollar-traded Bitcoin exchange. This appears to show that the two technologies can coexist (if it wasn't clear already, you can also send Bitcoin over the Ripple network). Another is SnapSwap , an online transaction gateway. Founder Denis Kiselev told us what he saw on Ripple: "If you look at the cryptocoin universe available now, you see whole families of cryptocurrencies derived from Bitcion — they use the same technology," he said. "Ripple is the only one that's substantially different, with a different mechanism of transaction confirmation, that allows you to do instant transactions across currencies, and only cryptocurrencies. I see it as a major step forward, a major advancement." You can watch the Ripple network live here » But Athey outlined clear uses of Ripple that are much harder to articulate for Bitcoin. One is that whole banking networks could be created based on trust using Ripple. "Local banks could agree to only talk to other customers of their own, check their identities to know if they're a legitimate business, to know they're not in North Korea," she said. "That is potentially a much more palatable way for bank to enter the system. They have a lot of control on who they interact." The other is that the cost of tracking payments can go down precipitously. "Companies are spending a lot of money for keeping ledgers of international currency flows. That's a business service. Some firms do that themselves, some hire external service providers, to help manage international flows. It's a big investment that's very important, and these systems are very complicated." Ripple's Larsen said they have begun preliminary discussions with mega financial institutions to see about using it as their primary "payment rail" for executing in-house transactions. "If you were executing a transaction involving all kinds of hedge funds, a path could be directed that instead of 20 hops would take one instant hop," he said. Again, it's still early, but definitely something to watch. More From Business Insider WARREN BUFFETT: 'Stay Away From Bitcoin. It's A Mirage' CHART: An Annotated History Of Bitcoin Goldman Completely Obliterates Bitcoin In New Report |
1,395,215,297 | 2014-03-19 07:48:17+00:00 | {"Bitcoin": [220, 998]} | {} | Fortress Investment, Benchmark Capital, Ribbit invest in bitcoin fund | https://finance.yahoo.com/news/fortress-investment-benchmark-capital-ribbit-invest-bitcoin-fund-074817288--sector.html | Reuters | https://www.reuters.com/ | REUTERS - Pantera Capital Management LP said three prominent investment firms - Benchmark Capital, Fortress Investment Group and Ribbit Capital - are acquiring an interest in its bitcoin fund. The investments in Pantera Bitcoin Partners LLC come at a time when the virtual currency is under close scrutiny by regulators after Tokyo-based Mt. Gox, the world's largest bitcoin exchange, filed for bankruptcy, saying hackers had taken around 850,000 bitcoins. Pantera, which was founded in 2003 and until recently focused on global macro-hedge fund investments, said it is turning its attention to investment advisory services exclusively for bitcoin, other digital currencies and other related companies. Ribbit, founded by financial services entrepreneur Micky Malka, and Fortress have committed to buying and selling virtual currencies, including bitcoin, through Pantera. Fortress Investment said last month it incurred a $3.7 million paper loss last year on an investment in bitcoin. "We believe Bitcoin is at an inflection point, making it the right time for a transition to more institutional management," said Dan Morehead, Pantera's founder and CEO. The collapse of Mt. Gox late last month was a setback for bitcoin, which began circulating in 2009, but many believe the virtual currency will emerge with a more robust system. Supporters of the crypto-currency expect some early investors to exit, with more experienced financial services professionals getting involved in bitcoin. Benchmark Capital has previously backed companies such as eBay and Twitter . (Reporting by Chris Peters and Supriya Kurane in Bangalore; Editing by Ian Geoghegan) |
1,395,230,400 | 2014-03-19 12:00:00+00:00 | {"Bitcoin": [194, 1108, 1193, 1784]} | {} | WPCS International Unveils Web Version of BTX Trader | https://finance.yahoo.com/news/wpcs-international-unveils-version-btx-120000234.html | Marketwired | http://www.marketwired.com/ | EXTON, PA--(Marketwired - Mar 19, 2014) - WPCS International Incorporated ( NASDAQ : WPCS ), which specializes in contracting services for communications infrastructure and the development of a Bitcoin trading platform, today announced that the beta version of the BTX trader platform, which was previously available only as a downloadable application for Windows-based operating systems, is now available directly from the web by logging onto www.btxtrader.com . According to Interim CEO Sebastian Giordano, "Launching the web version of our BTX trading platform is yet another milestone for our Company. We have refined our technology during the beta downloadable application phase of our launch and are now ready to offer our users a more enhanced trading experience on the web. We are pleased to now offer the beta via Mac and Linux operating systems." Divya Thakur, BTX Chief Technology Officer, stated, "Progress with the development of our trading platform remains on schedule and we continue to prepare to roll out new features and functionality, including adding access to market data for the major Bitcoin exchanges, such as Kraken, LocalBTC, Bitfinex, Coindesk, Cryptsy, Bitpay and Bitcoin.de. The online version offers the same feature set and interface customizability our users are accustomed to on the desktop client. We will continue to support both the desktop and web versions of BTX Trader. This release compliments the low latency, high throughput Windows-based downloadable desktop trading platform." About WPCS International Incorporated: WPCS operates in two business segments including: (1) providing communications infrastructure contracting services to the public services, healthcare, energy and corporate enterprise markets worldwide; and (2) developing a Bitcoin trading platform. For more information, please visit www.wpcs.com and www.btxtrader.com . Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements. View comments |
1,395,238,100 | 2014-03-19 14:08:20+00:00 | {"Bitcoin": [172, 448, 2485]} | {"Bitcoin": [39]} | PotCoin And DopeCoin: Meet The Two New Bitcoin-Like Currencies For Buying Marijuana | https://finance.yahoo.com/news/finance.yahoo.com/news/potcoin-dopecoin-meet-two-bitcoin-140820584.html | Business Insider | http://www.businessinsider.com/ | marijuana business AP Photo/Ted S. Warren An ATM sits next to a rack of marijuana clone plants at medical marijuana cooperative The Joint. PotCoin and DopeCoin are two new Bitcoin-like cryptocurrencies aimed specifically at buying drugs, reports the Huffington Post . PotCoin is targeting the legal recreational and medical marijuana industry while DopeCoin is unconcerned with legality. Both currencies have their pseudonymous creators, just like Bitcoin's "Satoshi Nakamoto." "Mrjones" and "smokeman," creators of PotCoin, imagine their currency being used not only in the U.S., but also from Vancouver to Amsterdam, wherever money can legally be exchanged for weed. They launched the currency earlier this year on January 21 at 4:20 p.m., but no retailers have committed to using it yet. They are undeterred — smokeman said "our inbox is jammed with point of sale inquiries from merchants along with some of the kindest, heartfelt letters of encouragement and thanks." There is an official PotCoin subreddit here that they hope will continue to maintain people's interest as the developers' plans come to fruition. "Dopey," the person behind DopeCoin, said that currency will be used anywhere from underground drug markets like Silk Road to more legitimate retail outlets like Overstock. "This is a digital currency created by the people for the people and what people do with it has the same consequences and responsibilities that they would have for the American dollar," he told the Huffington Post. "This is about giving people a currency choice that protects them from anyone who shouldn't be looking into what they are spending money on in their private lives." Perhaps surprisingly, DopeCoin is already accepted at four stores: "Two brick-and-mortar businesses in Europe and two online merchants in the U.S." Cryptocurrencies can solve some big problems for marijuana dispensaries that are legal at the state level, but federally illegal: Because federal law still considers marijuana illegal, traditional banks have shunned the businesses, leaving them unable to accept credit cards or open simple checking accounts. Without secure options, the businesses are largely forced into cash-only transactions, risking safety and raising tax and employee payroll issues. More From Business Insider Here's A Picture Of Edward Snowden Hanging Out With Google's Sergey Brin Coming Soon, Maybe: 'Knowledge Pills' That You Eat To Automatically Learn Anything This Has To Be The Easiest Bitcoin Heist Of All Time |
1,395,255,605 | 2014-03-19 19:00:05+00:00 | {"Bitcoin": [152, 268, 376, 716, 948, 1127, 1645]} | {"Bitcoin": [33]} | Fortress Investment to Invest in Bitcoin | https://finance.yahoo.com/news/fortress-investment-invest-bitcoin-190005051.html | Zacks | http://www.zacks.com/ | Fortress Investment Group LLC ( FIG ), the NY-based investment manger, along with Benchmark Capital and Ribbit Capital, is set to buy stakes in Pantera Bitcoin Partners – a subsidiary of Pantera Capital. The latest move shows Fortress Investment’s renewed interest in Bitcoin’s operations. As of Dec 31, 2013, Fortress Investment reported $3.7 million paper loss in its pilot Bitcoin investment. The investment reflected less than 1% of the $2.6 billion balance sheet of the company and hence did not dampen the company’s quarterly earnings. Despite the reported loss in the previous quarter related to the virtual currencies, Fortress Investment foresees long term growth prospects in the aforementioned deal. The “Bitcoin economy” is no more an elusive dream as virtual currencies are becoming increasingly popular, given the convenience of usage and innate characteristics which help to maintain its purchasing power. Moreover, as per analysts, Bitcoin’s price has reached an inflexion point, which indicates that it is the correct time to invest in the same. Though the price had fallen following the closure of MtGox, the Bitcoin exchange, it has been recovering since then. Moreover, in 2013 Fortress Investment reported a year-over-year rise of 121% in net income, which depicts the company’s ability to undertake calculated risks. Nevertheless, there are certain loopholes that could be a drag in the long term. The price volatility, high susceptibility to technological fallouts and chances of being misused could challenge the usage of these currencies for money transfers and payments. The absence of regulated derivative markets for Bitcoin restricts risk hedging, which in turn, discourages investors. Therefore, Fortress Investment’s latest move may not prove to be a safe bet going forward. Fortress Investment currently carries a Zacks Rank #1 (Strong Buy). Other investment mangers worth considering include Lazard Ltd. ( LAZ ), Calamos Asset Management Inc. ( CLMS ) and Noah Holdings Limited ( NOAH ). All these stocks carry the same Zacks Rank as Fortress Investment. Read the Full Research Report on FIG Read the Full Research Report on LAZ Read the Full Research Report on CLMS Read the Full Research Report on NOAH Zacks Investment Research |
1,395,287,663 | 2014-03-20 03:54:23+00:00 | {"Bitcoin": [0, 822, 1079]} | {"Bitcoin": [0]} | Bitcoin steps up from sandwiches to villas | https://finance.yahoo.com/news/bitcoin-steps-sandwiches-villas-035423808.html | CNBC | http://www.cnbc.com/ | Bitcoin steps up from sandwiches to villas Acceptance of bitcoin, a sometimes maligned virtual currency, has stepped up from small transactions for sandwiches and online dating to what may be its biggest deal yet: a luxury villa in Bali. An unidentified buyer in Texas paid less than 1,000 bitcoins, worth more than $500,000, for a two bedroom, two bath luxury villa at Bali's Del Mango Villa Estate, in what may be bitcoin's largest transaction to date. ( Read more : This is what the future holds for bitcoin: Goldman ) "As far as we know, there's nothing that comes close to this," Alan Silbert, CEO of BitPremier, a website which lists luxury items for purchase with bitcoin, told CNBC. "There have been some luxury car sales - Tesla, Lamborghini. So I think this is by far the priciest item that's sold by bitcoins." Bitcoin is a "virtual" currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining. Bitcoin has slowly been gaining greater acceptance for transactions, with businesses ranging from pizza parlors and hotels to online retailers allowing customers to use it for purchases. The virtual currency may be used to buy more property ahead. BitPremier is listing several more properties on its site, including a luxury Paris property with a view of the Louvre at around 8.5 million euros ($11.8 million), or nearly 20,000 bitcoins, and a seven-bedroom luxury villa in Caesarea, Israel for around $3 million, or around 5,000 bitcoins. Some are viewing the villa purchase as a sign that despite the recent collapse of a bitcoin exchange, the virtual currency is gaining broader acceptance. ( Read more : Despite recent woes, 'crypto currency' is the future, say SXSW attendees ) "It shows that it is a transaction mechanism," said David Moskowitz, a director at Coin Republic, which sells bitcoin. "It's being used as a means of exchange and people are willing to exchange their bitcoin." Story continues Using bitcoin also allowed the transaction to be completed quickly, rather than waiting for multiple bank transfers. The actual bitcoin transfer was likely instantaneous, with the confirmation process to ensure the bitcoins weren't spent twice taking around 30 minutes to an hour, Moskowitz said. The cost of the transfer likely was less than $10, he said. ( Read more : Mind your wallet: why the underworld loves bitcoin ) To be sure, bitcoin's path toward respectability isn't entirely clear. Its value has fluctuated wildly, rising from around $13.00 at the beginning of 2013 to peak around $1,120 in November, according to data from bitstamp. It is currently trading around $600. Recent high profile exchange failures have dented some confidence. Last month, one of bitcoin's major exchanges, Mt.Gox, went offline and then filed for bankruptcy, blaming hackers for stealing around $480 million worth of bitcoins, and earlier this month, a bitcoin bank was forced to close after hackers stole 896 bitcoins, worth over $600,000. ( Read more : Buffett blasts bitcoin as 'mirage': 'Stay away!' ) Others also doubt that the virtual currency has intrinsic value. "It's a mirage basically," legendary investor Warren Buffett told CNBC recently. "It's a method of transmitting money," he noted. "A check is a way of transmitting money too. Are checks worth a whole lot of money just because they can transmit money?" -By CNBC.Com's Leslie Shaffer; Follow her on Twitter @LeslieShaffer1 More From CNBC This is what the future holds for bitcoin: Goldman Plenty of love for bitcoin-type money at SXSW Mind your wallet: why the underworld loves bitcoin |
1,395,298,800 | 2014-03-20 07:00:00+00:00 | {"Bitcoin": [118, 211, 308, 641, 767, 995, 1167, 1469, 1555, 1680, 1887, 2105, 2257, 2317, 2450, 2568, 2697, 2928, 2990, 3244]} | {"Bitcoin": [6, 62]} | First Bitcoin Capital Corp. (OTC: BITCF) Secures Contract for Bitcoin ATM Placement in California | https://finance.yahoo.com/news/first-bitcoin-capital-corp-otc-070000837.html | ACCESSWIRE | https://www.accesswire.com/ | VANCOUVER, B.C. / Accesswire / March 20, 2014 / BITCoin ATM Franchise Corporation, a wholly-owned subsidiary of First Bitcoin Capital Corp., is pleased to announce that it has signed its first contract to place Bitcoin automatic teller machines (ATMs) in different locations throughout California. The first Bitcoin ATM will be located in a high-traffic location retail store in Los Angeles, that offers products and merchandise geared towards the younger demographic, which understands digital currency and embraces new emerging technologies. “We believe the BITCoin ATM Franchise concept will be very successful,” the company said. “Those Bitcoin ATMs are based on new software platform that enables users to add more services besides buying, selling or exchanging Bitcoins and other crypto currency. The company is receiving numerous inquiries from potential franchisors and we are working to complete the development of the franchise package.” BITCoin ATM Franchise Corporation is the first Bitcoin Company in the world to offer a unique turn-key franchise investment opportunity for business owners to earn additional income by getting involved in the lucrative Bitcoin industry with minimal effort. Franchisees will be able to enter this growing market under the guidance of a reputable company that will develop a strategy to establish an exclusive locations, based on population density, traffic patterns, market statistics, demographics and other key factors. Bitcoin is a digital crypto-currency that allows consumers to electronically exchange Bitcoins, or units of value, for a service or product anywhere in the world with no or minimal fees. Users can then exchange Bitcoins for other currencies by using a wallet service provider. The digital currency isn’t backed by any government entity, instead transactions are tracked and verified by a transparent online community. Bitcoins are subject to value fluctuations, which are based on what people are willing to pay for it at any given time. Story continues About BITCoin ATM Franchise Corporation: BITCoin ATM Franchise Corp. is the first Bitcoin Company in the world to offer a unique franchise opportunity for business owners to earn additional income by getting involved in the lucrative Bitcoin industry. The company intends to build a network of Bitcoin ATMs that will be similar to other legacy ATM networks, but will offer many additional services and products. Investing in a Bitcoin ATM franchise will allow business owners to earn residual income without spending too much time and effort. A Bitcoin ATM franchise is ideal for those who want to start a small business but don't have the required capital to do so. As the Bitcoin industry grows, more and more people will begin using the crypto-currency and the ATM, especially if it's located in an area that has high foot traffic, will be the go-to choice for anyone looking to exchange, buy, or sell Bitcoins easily and quickly in one convenient location. First Bitcoin Capital Corp. is a developing Canadian-based mining company currently holding concessions of Gold in Venezuela and is involved in the crypto-currency industry. It is the first, publicly trading, vertically-integrated consolidation company of the Bitcoin and crypto-currency marketplace. For more information please visit www.bitcoincapitalcorp.com SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "anticipates," "intends," or "expects," used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Contacts: [email protected] |
1,395,323,054 | 2014-03-20 13:44:14+00:00 | {"Bitcoin": [2098]} | {} | Report: California Has a Cyber-Gang Problem | https://finance.yahoo.com/news/report-california-has-a-cyber-gang-problem-80162762853.html | Yahoo Tech | https://www.yahoo.com/tech/ | By Don Thompson, Associated Press International criminal enterprises follow the money, and a report being released Thursday says they are increasingly focusing on California because of its wealth and innovation. Aside from longtime trafficking in drugs, guns, and people, the report by California Attorney General Kamala Harris says criminals are turning to cybercrime to target businesses and financial institutions. It calls California the top target in the United States for organizations that often operate from safe havens in Eastern Europe, Africa, and China. “California is a global leader on a number of fronts and, unfortunately, transnational criminal activity is one of them,” the report states. Harris said it is the first comprehensive report to outline the effects international criminal organizations are having on Californians and businesses in the state. She released a 181-page report during a late-morning news conference with other law enforcement officials in Los Angeles. California leads all states in the number of computer systems hacked or infected by malware, the number of victims of Internet crimes, the amount of financial losses suffered as a result, and the number of victims of identity fraud. The report says the state also is particularly vulnerable to thefts of intellectual property because of its leading role in developing new technologies and mass-media entertainment. “Not surprisingly, transnational organized crime has tapped into this new criminal frontier,” the report says. “Many of these breaches have been tied to transnational criminal organizations operating from Russia, Ukraine, Romania, Israel, Egypt, China, and Nigeria, among other places.” California’s gross domestic product of $2 trillion, significant foreign trade activity, and border with Mexico also make the state an easy target for international money-laundering schemes, the report says. It estimates that more than $30 billion is laundered through California’s economy each year. Story continues Some is filtered through legitimate businesses or by using virtual currencies such as Bitcoin. But the report says backpacks and duffel bags stuffed with cash have been seized more frequently since Mexico began toughening its money-laundering laws in 2010. Seizures of bulk cash increased 40 percent by 2011 in California, which now leads the nation in the number of currency seizures. California should alter state law to make it easier for prosecutors to crack down on money laundering, the report says. Unlike federal law, state law currently requires prosecutors to prove that a suspect deliberately carried out a financial transaction in a way designed to hide the fact that the money came from or was used for a criminal activity. The report also recommends that the Legislature change state law to let prosecutors temporarily freeze the assets of transnational criminal organizations and associated gangs before they seek an indictment. It also calls for the state to devote more money to the state Department of Justice, which Harris leads. That would include $7.5 million to fund five new teams that would target international criminals. |
1,395,326,820 | 2014-03-20 14:47:00+00:00 | {"Bitcoin": [55, 288, 629, 958, 1486, 2063, 2358], "BTC": [1277]} | {} | Coinbase Snags Top Tech Execs From Facebook, Amazon | https://finance.yahoo.com/news/coinbase-snags-top-tech-execs-144707534.html | Entrepreneur | http://www.entrepreneur.com/ | In a move that shows that the skyrocketing business of Bitcoin is big enough to attract top tech talent, Coinbase has hired Facebook's former director of security Ryan McGeehan and Amazon’s former director of business development Todd Edebohls. The fast-rising San-Francisco-based global Bitcoin wallet and merchant service tapped the two elite internet executives to strengthen and broaden its security and business development initiatives. “The industry is continuing to evolve,” Coinbase co-founder Fred Ehrsam told TechCrunch . “We’re attracting very, very top talent from prior rocketships that were successful.” Related: 6 Bitcoin Basics for Beginners Coinbase has also attracted some serious venture capital cash from heavy hitter investment firms. The popular Y Combinator -backed startup recently raised $25 million in Series B funding led by Andreessen Horowitz in what TechCrunch described as “the largest funding to date for a company focused on Bitcoin digital currency.” The historic funding round brought the venture capital raised by Coinbase to $31 million total. McGeehan announced his upcoming career transition to Coinbase on Facebook and Twitter, confirming that he will join the company in April. Yup, I'm joining @coinbase in April. If you're working on BTC security anywhere, reach out so we can share ideas. — Ryan McGeehan (@Magoo) March 20, 2014 According to his Facebook post, McGeehan will create Coinbase’s security program. Related: 50 Insane Facts About Bitcoin (Infographic) Edebohls, former high-ranking executive at Amazon and more recently CEO of the online career community InsideJobs, is apparently keeping mum about his move to Coinbase on his social network accounts. He did, however, allude to his new position on his LinkedIn profile, adding the title of “VP” at “(to be announced)” as his latest position, with a start date of March 2014. Story continues He will serve as Coinbase’s new vice president of business development. Coinbase, was founded less than two years ago in June 2012, has already passed the 1 million Bitcoin wallet download mark, which it reached in on Feb. 27. Blockchain is Coinbase’s biggest competitor. More From Entrepreneur Alibaba Wages $215 Million to Dance With Messaging App Tango Do Attractive Women Have More Pull With Investors? The Answer May Surprise You. 3 Celebs Jumping on the Bitcoin Bandwagon (and One Who Says She's an 'Idiot' for Missing It) |
1,395,343,722 | 2014-03-20 19:28:42+00:00 | {"Bitcoin": [19, 613, 886, 2143]} | {"Bitcoin": [3]} | Is Bitcoin Your Chance To Profit Like A VC? | https://finance.yahoo.com/news/bitcoin-chance-profit-vc-192842795.html | Benzinga | http://www.benzinga.com/ | This week, Pantera Bitcoin Partners announced a $150 million joint venture from Venture Capital Firms Fortress Investment Group, Benchmark Capital and Ribbit Capital. They join Union Square Ventures, Andreessen Horowitz, Accel Partners, General Catalyst Partners and Lightspeed Ventures in investing in bitcoin. Venture Capitalist Guy Kawasaki stated VCs need to be convinced there is a realistic plan for returning five times to ten times his money in three to five years. Does bitcoin pass that test? Unquestionably, yes. Marc Andreessen's firm has invested $50 million into bitcoin related startups because Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system in ways that are more powerful for individuals and businesses alike. See also: Warren Buffett's Conflicting Bitcoin Views With bitcoin's current market cap around $7.5 billion these VC firms see a huge opportunity if bitcoin captures even a fraction of the potential they see it having. PayPal, Western Union, Visa, MasterCard, JP Morgan Chase, Wells Fargo, etc. all these multi billion dollar companies have the potential to be disrupted by bitcoin. Venture Capitalist Chris Dixon thinks bitcoins could skyrocket from their current sub $600 price to be easily worth $100,000.,. The Opportunity Traditionally it has been hard for retail investors to get in early on big opportunities. Sure you probably know people who have held Google, Tesla or Facebook since they went public, but do you know anyone who had equity in those companies prior to going public? Most likely not. In this way bitcoin again differentiates itself from the traditional finance system. Retail investors have the same opportunity as Venture Capitalists to reap outsized gains from a bitcoin investment if the technology takes off. In fact some early bitcoin investors have already turned tens of dollars into fortunes. In 2009 a Norwegian man bought $27 of bitcoin. In 2013 his investment was worth 0,000. The Risk The downside of trying to profit like a VC is taking high risk like a VC. Bitcoin has huge potential, but that potential carries with it huge risks. No one knows what bitcoin's price will be. Buffett labels bitcoin a 'mirage' and Paul Krugman calls bitcoin evil. Not only could bitcoin end up worthless, but there are many criminals working hard to steal bitcoins. Bankrupt bitcoin exchange Mt. Gox claims hackers stole almost 0 million worth of bitcoin from them. Yet another way you can lose money trading bitcoins is by making the wrong decision at the wrong time in this highly volatile asset. One man explains how he lost ,000 instead of making 8,000 trading bitcoins because he was unprepared for bitcoin's wild swings. Story continues Will you take the chance to profit like a VC? One key to being a VC is not risking too much on one investment. For retail investors a good rule of thumb is to buy as much bitcoin as you would spend on a dinner date. For some people that might be $20 and for others that might be $200. The key point is to select an amount that won't negatively impact your financial future if lost. This three minute video shows how San Francisco startup Coinbase makes buying bitcoin simple. Will you take your chance to profit like a VC? Disclosure: At the time of this writing David Smith has a long bitcoin position. Related Links Does The Drop In Cable Subscriptions Mean The Streaming Revolution Has Begun? S4 NetQuest Looks To Advance eLearning Further Gene Munster Advises Apple Investors to Hold Through Downward Revisions of June Quarter © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments |
1,395,344,554 | 2014-03-20 19:42:34+00:00 | {"Bitcoin": [6172]} | {} | 11 CEOs Who Also Founded Their Companies | https://finance.yahoo.com/news/6-ceos-founded-companies-194234134.html | Benzinga | http://www.benzinga.com/ | It's one thing to start a company; it's a completely different experience trying to make sure your baby not only thrives but succeeds. There are many stories of company founders who stayed on as CEOs, for better or worse facing not only cutthroat competition but the challenges of trying to run their business on a day-to-day basis. One historic and widely-known case was the late Steve Jobs, who founded Apple (NASDAQ: AAPL ) in 1976, but was forced out as CEO in 1985 only to return as Apple's chief executive in 1997. Here are 11 company founders or co-founders, who have been able to buck the trend and stay on as chief executive: Stan Shih Acer (OTC: ASIYF ) The Taiwan native has always been an innovator. He designed, developed and sold Taiwan's first desktop calculator in 1971 and was later part of a team that came up with the world's first pen watch. Shih co-founded Acer in 1976 with four partners and $25,000. Under his leadership, Acer became the world's second-largest PC maker. In late 2013, nine years after retiring , Shih was brought back on as Acer chairman and president, to help revive the company's flagging fortunes. Jeff Bezos Amazon (NASDAQ: AMZN ) A computer geek and proud of it, the New Mexico native worked on Wall Street after graduating from Princeton University with degrees in computer science and electrical engineering. After working on Wall Street for several years, he founded Amazon.com in 1994. The e-commerce site took off, making Bezos a billionaire. Last year, he purchased The Washington Post for $250 million in cash. Michael Dell Dell In 1984, when he was 19 years old, Dell founded Dell in his college dorm room with $1,000. With an emphasis on computer design, manufacturing, good prices and better customer support, Dell boomed. By 1992 Dell became the youngest CEO on the Fortune 500 list. The company is currently the world's third- largest computer hardware manufacturer by revenue. In 2013, after slumping sales, Dell took Story continues his company private a move he reportedly said would ease the company's transition from PCs to mobile devices. Larry Ellison Oracle (NYSE: ORCL ) Ellison founded his computer technology company in 1977, making him one of the world's longest-serving founders and CEOs. Ellison is also one of the world's richest men, and makes no bones about it. He collects airplanes, yachts, homes and currently owns most of the Hawaiian island of Lanai. He also put hundreds of millions of dollars into his Team Oracle USA's successful defense of America's Cup last year. Dave Duffield PeopleSoft/Workday (NYSE: WDAY ) A Cornell graduate, Duffield founded PeopleSoft in 1987. As company CEO and chairman, he helped parlay the company's office and financial management systems in the world's second-largest ERP (enterprise resource planning) company. PeopleSoft was acquired by Oracle in 2005. Since then Duffield has become the founder and CEO of Workday, which provides cloud-based human resources and financial applications for companies. Marc Benioff Salesforce.com (NYSE: CRM ) Benioff started his pioneering, cloud-based company in a San Francisco apartment in 1999. My vision, he later blogged, was to make software easier to purchase, simpler to use, and more democratic without the complexities of installation, maintenance, and constant upgrades. Salesforce's Customer Relationship Management (CRM) application is reportedly used by over 100,000 companies. And the firm was on the Forbes list of the world's most innovative companies last year. Elon Musk Tesla (NASDAQ: TSLA ) Born in South Africa, Musk has been the driving force behind some of the most innovative companies of the modern business era. He was the co-founder of PayPal and SpaceX the private commercial space venture where he remains CEO and Chief Designer. Musk has also made history with another venture he co-founded, Tesla. The company's landmark Model S sedan has set the standard for electric car performance. In fact, in its car-brand perception survey for 2014, Consumer Reports lists Tesla among the top five brands. Larry Page Google (NASDAQ: GOOG ) Michigan native Larry Page co-founded Google in 1998 while working on his Ph.D at Stanford University. He remained CEO until 2001, when he became president of products. But Page resumed his role as company chief executive in 2011, as part of a company shake-up meant to help Google keep up with competition from a growing number of business rivals. Mark Zuckerberg Facebook (NASDAQ: FB ) The tale of how then-Harvard student Zuckerberg co-founded the pioneering social networking site, along with its subsequent rise and controversies, had enough drama that Hollywood made the story into an award-winning movie. Zuckerberg has enough power and influence that he recently called President Barack Obama to complain about federal intelligence and hacking programs on the Internet. Jeremy Stoppleman Yelp (NYSE: YELP ) Stoppleman was vice president of engineering at PayPal when, in 2003, he left the company to attend the Harvard Business School. While there, he and a former PayPal colleague, Rusel Simmons, came up the the idea of a web-based social network based on local, regional information. Stoppleman dropped out of HBS to found the online urban guide and business review site in 2004. Yelp has also had its share of complaints, lawsuits and controversies, but the company has expanded internationally, and reportedly had a monthly average of 120 million unique visitors in the fourth quarter of 2013. Reed Hastings Netflix (NASDAQ: NFLX ) The Boston native co-founded Netflix in 1997, and has been its CEO since late 1998, making him another long-running CEO. Beginning with its DVD-by-mail rental service, Netflix now has an international presence as a video streaming service. It has also produced programming that has won both audiences and awards including series such as House of Cards and Arrested Development . Its up to Netflix to harness the power of the Internet better and faster than other people, Hastings said in an interview last year, to provide a great consumer experience. Related Links Is Bitcoin Your Chance To Profit Like A VC? Toyota Settles Criminal Charges with .2B - Analyst Blog It's Tea Time For Starbucks With New 'Oprah Chai' Partnership © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
1,395,349,528 | 2014-03-20 21:05:28+00:00 | {"Bitcoin": [31, 879, 1365, 2059, 2589, 5412, 5531, 5897]} | {"Bitcoin": [0]} | Bitcoin's promise: a financial revolution the web's been waiting for | https://finance.yahoo.com/news/bitcoins-promise-financial-revolution-webs-210528843.html | Reuters | http://www.reuters.com/ | By Jeremy Wagstaff (Reuters) - Bitcoin may not be the messiah of a new currency its hardcore fans yearn for, but it may herald the deeper financial revolution the internet has been waiting for. While computers and smartphones have brought the web to more than a third of the world's population, online commerce still largely depends on a banking system that has changed little over recent decades, some of it relying on computer code written before the web was born. The growing interest in bitcoin, a digital currency that requires no centralized body to handle transactions, is beginning to change all that. "The rise of bitcoin has changed everyone's idea of what a good payment system should be," says Manu Sporny, CEO of web payments company Digital Bazaar, who is spearheading an effort to get the industry together to agree on standards for handling online transactions. "Bitcoin raised the bar, so everyone's got to come in and match that in some way." A key moment, Sporny and others say, will be a meeting in Paris next week hosted by the World Wide Web Consortium, or W3C, one of the key bodies for setting internet standards. Gathering for the first time to discuss web payment standards will be telecom operators such as Deutsche Telekom, Telefonica and AT&T, payment companies including SWIFT, PayPal and Gemalto, as well as the U.S. Federal Reserve. Bitcoin can claim some credit for this buzz of activity. Much of the focus on bitcoin has been on its meteoric rise in value - soaring from $30 a year ago to above $1,000 late in the year - which has been only slightly dented by the collapse last month of Mt. Gox, a leading bitcoin exchange, with half a billion dollars' worth of bitcoins missing. But bitcoin as a currency might be a distraction. Underpinning the digital currency is a combination of key computing principles - decentralized timestamping, public key cryptography and a proof of work system - that promise to revolutionize transactions. Story continues Says Peter Vessenes, CEO of bitcoin start-up CoinLab and chairman of the Bitcoin Foundation, an advocacy group promoting its adoption: "Those three could be turned into money, but they could also do a lot of other things." CHEAPER DEALS What interests some, and worries others, among those due to attend the Paris meeting is the promise bitcoin offers in cutting the cost of moving money around. "If they can have it cheaper, they will make it cheaper," said Marcus Swanepoel of Switchless, a Singapore-based company offering to integrate bitcoin processes into traditional banks and telecom companies. Bitcoin poses a challenge for those used to handling consumer transactions: PricewaterhouseCoopers estimates that credit card companies charge around 3 percent in transaction fees. PayPal's cut can go as high as 4 percent. Those same transactions via bitcoin firms such as Coinbase and BitPay, which bypass central financial institutions, are as likely to be free. However, Visa Inc's head of innovation Jim McCarthy told an investors' conference this month that while there were things to be learned about bitcoin, "I don't see those as the things that are going to tip the apple cart anytime soon." MasterCard and Visa will not be at the Paris meeting, noted Sporny. "GETTING WHACKED" Indeed, there's plenty of skepticism that bitcoin will amount to anything, with critics pointing to recent setbacks such as Mt. Gox and the libertarian bent of some of its supporters, as indicators it's little more than a Ponzi scheme. Some of bitcoin's doubters come from within. Mike Hearn, a key contributor to the code underpinning bitcoin, dismisses talk of Ponzi schemes, but worries about complacency. "A lot of people seem to believe it's a done deal, a dead cert. And I don't see it that way at all." Hearn says that if bitcoin is going to challenge or win over the banking mainstream it needs to adopt better security while making it easier to use. And then, it needs to reach out to overcome the banking world's anxiety about regulators and its perceived links to crime. "The banking blockage, where all banks are afraid of touching bitcoin because they're afraid of getting whacked by governments, is still the biggest challenge that bitcoin faces," he said. COOPERATION Switchless' Swanepoel believes this fear is already dissipating. Standard Bank of South Africa, for example, recently ran a pilot using Switchless technology to integrate bitcoin trading into the bank's own currency systems. He sees similar interest among telephone operators and post offices looking for a cheap way to build a system to handle monetary transactions. But if bitcoin does make it into these behemoths, it's likely to accompany existing technologies. "You don't see bitcoin as something that would eliminate how things are done at the moment," Swanepoel said in a phone interview. "They're more likely to sit side by side." Start-up Ripple, for example, offers a way for users to buy and sell currencies using some bitcoin technologies but not its computer-hogging method of confirmation, called mining. End users needn't know or care that they're using a system with bitcoin roots. "Then people won't even know they're using it, they'll be using brands that they trust that will be using these protocols. All they'll know is that they suddenly get to send money to India for free, instantly," said Ripple CEO Chris Larsen. MOBILE WALLET Bitcoin's biggest potential market may be among the millions of people with limited access to proper banking services. Bitcoin naturally lends itself to the idea of a mobile wallet, and of small payments that have so far been too expensive for mass adoption. Users of dogecoin, a variant of bitcoin, for example, raised funds for the Jamaican bobsled team and three Indian athletes to go to last month's Winter Olympics, and this week raised more than $30,000 to build wells in Kenya. Bitcoin and its offshoots also offer a way round government currency controls - either by converting fiat currency to a virtual currency that can be sent overseas, or by bypassing the local currency entirely. Next week, an Icelander who calls himself Baldur Friggjar Óðinsson will start releasing a new crypto-currency he has created himself, Auroracoin, to all Icelanders who want some. The idea, he said in an email interview, "is to free the Icelandic people from fiat currency and currency controls" by giving them access to a currency that can be traded online or, in theory, used to pay for goods and services. Icelanders have been restricted from converting their cash into foreign currency since the 2008 financial crisis. Each Icelander can download their allocation of Auroracoins, worth about $500 at current prices, from a website. "Hopefully this is the beginning of a lasting revolution, where the power over money is removed from the elite and placed in the hands of the people," Baldur said. BEYOND MONEY Revolutionary talk aside, the legacy of bitcoin could be in the way it can decentralize any kind of transaction. The record of all transactions using the bitcoin protocol are stored in something called a blockchain - a log of where all bitcoins have changed hands. Forget bitcoin as merely a currency, said the foundation's Vessenes, and think of it as a decentralized way to confer and agree ownership. The smallest unit of bitcoin, the satoshi, could be a token that represents ownership of a share - with details of who should be paid a dividend, or who can vote at shareholder meetings - all built directly into the token. Ownership of a car could be managed the same way, so it only responds to someone who can prove possession and ownership of that token. "Money, or what one perceives as money, is just a form of disintermediated trust," says Pindar Wong, a Hong Kong-based consultant who has been working on internet-based payment technologies. "There's a whole scope of innovation here and we're just touching the tip of a very big iceberg." (Additional reporting by Sophie Knight in Tokyo; Editing by Ian Geoghegan) |
1,395,369,480 | 2014-03-21 02:38:00+00:00 | {"Bitcoin": [112, 229, 367]} | {"Bitcoin": [22]} | Mt. Gox found 200,000 Bitcoin ($116 million) in an old wallet, should check its pockets | https://finance.yahoo.com/news/2014-03-20-mt-gox-apparently-found-200-000-bitcoin-in-an-old-wallet-shoul.html | Engadget | https://www.engadget.com/ | In a bit of news that's familiar to anyone who ever put on an old jacket and found $20 in the pocket, embattled Bitcoin exchange Mt. Gox has made a fortuitous discovery. The company announced (PDF) in Japan that it found 200,000 Bitcoin (worth nearly $116 million at the moment) in a wallet from 2011 that it no longer used. That's less than a quarter of the 850,000 Bitcoins CEO Mark Karpeles reported were missing, but at the moment, at least it's something. According to its statement, the coins were moved to online wallets on the 7th, and then to offline wallets on the 14th and 15th. The mystery of what happened to Mt. Gox's funds is still far from solved, but between this news and reports of updated balances for account holders , it seems possible that there's something to be recovered from the shuttered exchange. Next up, removing all of the cushions from the sofa and pulling it away from the wall. |
1,395,391,863 | 2014-03-21 08:51:03+00:00 | {"Bitcoin": [2283], "BTC": [858]} | {} | Mt. Gox says it found 200,000 bitcoins in 'forgotten' wallet | https://finance.yahoo.com/news/mt-gox-says-found-200-033921569.html | Reuters | https://www.reuters.com/ | By Sophie Knight TOKYO (Reuters) - Mt. Gox said on Friday it found 200,000 "forgotten" bitcoins on March 7, a week after the Tokyo-based digital currency exchange filed for bankruptcy protection, saying it lost nearly all the 850,000 bitcoins it held, worth some $500 million (303 million pounds) at today's prices. Mt. Gox made the announcement on its website. Online sleuths had noticed around 200,000 bitcoins moving through the crypto-currency exchange after the bankruptcy filing. The exchange, headed by 28-year-old Frenchman Mark Karpeles, said the bitcoins were found in an old-format online wallet which it had thought no longer held any bitcoins, but which it checked again after its bankruptcy filing. "On March 7, 2014, MtGox Co., Ltd. confirmed that an old format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC," the statement said. It added that it moved the 200,000 bitcoins from online to offline wallets on March 14-15 "for security reasons." "These bitcoin movements, including the change in the manner in which these coins were stored, had been reported to the court and the supervisor by counsels," it noted. Many of Mt. Gox's 127,000 creditors, who feared they had lost their investments when the exchange filed for bankruptcy, are skeptical about what the exchange has said happened to the bitcoins it had. In its bankruptcy filing, Mt. Gox also said $28 million was "missing" from its Japanese bank accounts. BITCOIN TRACKING On Thursday, a U.S. judge in Chicago overseeing a class action against Mt. Gox revised a previous order, allowing some of the exchange's bitcoin movements to be tracked. "Today in court we got relief ... specifically to track the 180,000 bitcoins, which we've been monitoring. Hours later, Mt. Gox claimed it "found" these bitcoins ... it appears Mt. Gox realized we were close and decided to acknowledge that it owned these 180,000-200,000 bitcoins," Steven L. Woodrow, a partner at law firm Edelson, told Reuters in emailed comments. Edelson is representing Illinois resident Gregory Greene, who proposed the class action over what he claims is a massive fraud. Mt. Gox blamed the loss of 750,000 bitcoins belonging to its customers and 100,000 of its own on hackers who attacked its software. Bitcoin is bought and sold on a peer-to-peer network independent of central control. Its value soared last year, and the total worth of bitcoins is now about $7 billion. (Additional reporting by Tom Hals in DELAWARE; Editing by Ian Geoghegan and Miral Fahmy) View comments |
1,395,397,800 | 2014-03-21 10:30:00+00:00 | {"Bitcoin": [393]} | {} | Cryptsybids.com Enables Cash Back Rewards With Walmart.com Auction Offers | https://finance.yahoo.com/news/finance.yahoo.com/news/cryptsybids-com-enables-cash-back-103000175.html | Marketwired | http://www.marketwired.com/ | LAS VEGAS, NV --(Marketwired - March 21, 2014) - Security First International Holdings, Inc. ( SCFR ) , a leading provider of mobile financial products and services for consumers, today announced the availability of cash back rewards on Walmart.com products through its penny auction site Cryptsybids.com. Cryptsybids.com, allows players to purchase bids with eligible crypto-currency such as Bitcoin to participate in live auctions and win cash back rewards. With the proliferation of online coupons and rewards sites, Cryptsybids.com is positioned to take advantage of this trend as the first of its kind to reward participants with cash back. Cryptsybids.com affiliate channel with Walmart.com will provide the conduit for consumers to participate, win and get cash back rewards for every product offer won at the site. "With the demand for pricing coupons and discounts online, we are confident that Cryptsybids.com will provide tremendous value for online consumers," says Brian Fowler, President. Visit Cryptsybids.com to learn more. About Security First Holdings International Inc. ( SCFR ) Security First International Holdings is a company focused on providing innovative financial payment products and services to consumers globally. We provide new possibilities for the mobile commerce market through technology and platforms that will create a meaningful financial impact on all consumers. Through a mobile technology that works in combination with Android devices, direct carrier billing and prepaid reloadable cards; Security First International Holdings, Inc. is re-defining the conventional application of funding sources for prepaid reloadable cards. A technology company redefining mobile shopping, Security First International Holdings, Inc. is bringing together alternative consumer financing solutions designed to create a consumer mobile shopping lifestyle that is a more connected, powerful experience. Our mission is to be the leader in innovative consumer financial products. Story continues More information about Security First International Holdings, Inc. is available at: www.scfrinc.com www.cryptsybids.com FORWARD-LOOKING DISCLAIMER This press release may contain forward-looking statements, including statements about the business plan and prospective financial condition of Security First Holdings International, Inc. The forward-looking statements are subject to risks and uncertainties, including that the parties may not complete the transaction or that when completed, the transaction might be different than presently contemplated. Readers should not place undue reliance on the forward-looking statements. Security First Holdings International, Inc. does not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. In addition, any forward-looking statements regarding expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: whether Security First Holdings International, Inc. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Security First Holdings International, Inc. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. ©2014 Security First International Holdings, Inc. ( SCFR ). The information contained herein is subject to change without notice. The only warranties for SCFR products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. SCFR shall not be liable for technical or editorial errors or omissions contained herein. |
1,395,406,800 | 2014-03-21 13:00:00+00:00 | {"Bitcoin": [2054]} | {} | 3D Eye Solutions Inc. Would Like to Announce the Appointment Of Our New CEO Barrett Bott | https://finance.yahoo.com/news/3d-eye-solutions-inc-announce-130000660.html | Marketwired | http://www.marketwired.com/ | CHEYENNE, WY--(Marketwired - Mar 21, 2014) - 3D Entertainment Holdings, Inc., a Wyoming Corporation dba 3D Eye Solutions Inc (OTC Pink: TDEY) ( PINKSHEETS : TDEY ), would like to announce the appointment of Barrett Bott to the CEO position. He attended Texas A&M University obtaining a Bachelors of Science in Health, Community Health Option Degree. Mr. Bott brings nearly 20 years experience in senior management from the health care industry. He has been involved in over 25 clinical research trials for companies such as Astra Merck, SmithKline Beecham, Boeringer Ingelheimer, Bayer, Glaxo Wellcome, TAP Pharmaceuticals, Phamacia & Upjohn and many others. Mr. Bott was also the founder, President/CEO, of North Hills Medical Research Inc. for 14 years where he put together an impeccable list of accomplishments while there: Founded one of the first Site Management Research Organizations with multiple sites and numerous physicians. Responsible for identifying and selling to qualified physicians in conducting clinical trials in a partnership with NHMR, Inc., contracting, implementing and managing pharmaceutical sponsored phase II-IV clinical trials. Negotiating contracts, budgets and implementing all processes associated with starting a clinical trial at the site level. Marketing and patient recruitment and retention was a primary focus for NHMR, Inc. Patient chart auditing and payment reconciliation with pharmaceutical and CROs. Administered and sold the concept for 125+ clinical trials as a research coordinator or project manager Management responsibilities for 15 people in multiple locations Marketed services and negotiated contracts with the pharmaceutical industry Managed 6 contract CRAs for a two year contract Selected as a fast start facility for numerous clinical trials due to their ability for quick enrollment Mr. Bott's work ethics and extensive background in senior management will complement our soon to be appointed new board of directors. We are building a solid management team to implement our new pre paid cellular Bitcoin purchase, wallet, and RF payment system. "The Company is in several negotiations with other 3D and Production/Content development companies to create an industry 'roll up' with mergers and Acquisitions. We are creating a true leader in this market space. And the new leadership and management will only enhance and contribute to this development," stated Edward Vakser, Chairman. Edward Vakser Chairman (TDEY) About 3D Entertainment Holdings, Inc. TDEY (OTC Pink: TDEY) ( PINKSHEETS : TDEY ) is fully focused on a 2D and 3D content media creation business with distribution of content through application and smart devices. Owner and developer of App3DTV found on smart devices which provide media content and entertainment. More information can be found on www.App3DTV.com Story continues App3DTV is 2D and 3D app available on Smart Mobile devices for $7.99 per month. The application that features 3D movies, music videos, and other media all at your finger tips. It is currently on schedule to be on Roku and Apple shortly. To download the app go to: www.App3dTV.com or directly from Android Play market: http://goo.gl/Gy3hLG Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. View comments |
1,395,415,500 | 2014-03-21 15:25:00+00:00 | {"Bitcoin": [1256, 1369, 1777], "BTC": [297]} | {"Bitcoin": [59]} | Mt. Gox Mysteriously Finds $114 Million Worth of 'Missing' Bitcoins | https://finance.yahoo.com/news/mt-gox-mysteriously-finds-114-152510934.html | Entrepreneur | http://www.entrepreneur.com/ | Oops, trusting customers, we lost all of your bitcoins. Sorry. We think maybe hackers ripped them off. But, hey, we just dug up 200,000 of the vanished coins. Thats the latest strange tune Mt. Gox is singing now, a month after crashing and burning following the loss of 750,000 of its customers BTC and 100,000 of its own. Mark Karapeles, the former chief executive and now the representative director of the fallen cyrptocurrency exchange, announced the puzzling discovery of 200,000 missing bitcoins in a statement released on on Mt. Goxs website yesterday. Related: Bitcion Advocate Andreessen: 'Mt. Gox Had to Die" According to exchange rates at press time, the found coins are worth about $114 million. The company was required by civil rehabilitation proceedings to inform the court and its bankruptcy counsels of the discovery. Karapeles said the company discovered the existence of the missing virtual currency pieces on March 10 in a an "old format" digital wallet that Mt. Gox used previously, then transferred them to an offline site from March 14 to 15. Why the bitcoins went missing in the first place is still a mystery, perhaps even to Mt. Gox itself. Please note that the reasons for their disappearance and the exact number of Bitcoins which disappeared is still under investigation, Karapeless statement read. Related: 'I Did Not Create Bitcoin': 4 Major Takeaways From Dorian Satoshi Nakamoto's Letter of Denial When the company filed for bankruptcy protection on Feb. 28, Karapeles blamed hackers for his companys collapse, claiming they exploited a weakness in its system that enabled them to fraudulently withdraw almost half a billion U.S. dollars worth of the digital currency. Whether or not the found bitcoins the first once mighty Bitcoin exchange lost back in February will land back in the hands of angry customers remains unknown. Several have joined together to file a class-action lawsuit in an attempt to freeze both Mt. Gox's and Karapeles's assets. Story continues Earlier this month cyber criminals hijacked Karpeless personal blog, Tumblr and Reddit accounts, posting accusations that head of the defunct exchange knew the whereabouts of -- and was allegedly still in control of -- the vanished $500 million-plus bitcoins all along. More From Entrepreneur 6 Things You Should Never Ask a Job Applicant The 10 Best Cities for Buying or Selling a Home Coinbase Snags Top Tech Execs From Facebook, Amazon |
1,395,431,996 | 2014-03-21 19:59:56+00:00 | {"Bitcoin": [176, 258, 553, 1083, 1895, 3053, 3137]} | {"Bitcoin": [18]} | PayPal Should Use Bitcoin, Not Compete | https://finance.yahoo.com/news/paypal-bitcoin-not-compete-195956044.html | Benzinga | http://www.benzinga.com/ | Analyst Robert Wagner created a bit of a stir in the blogosphere recently, in an article he published at Seeking Alpha -- titled: eBay's Paypal Has The Potential To Topple The Bitcoin. Here is an excerpt that sum's up Wagner's reasoning: “The benefit of the Bitcoin is its ease of use, security and low costs/transaction fees. That benefit however is immaterial when compared to the costs and risks involved with its volatility.” Wagner makes what seems like a logical case for PayPal , a subsidiary of eBay (NASDAQ: EBAY ),being positioned to create a Bitcoin killer. But the argument only sounds logical because it presupposes benefits, and ignores the costs and risks. It is similar to stating casinos will get more business by making everyone a winner. True, but that argument won't work. PayPalCoin: Bad For Consumers Wagner's article presupposes a PayPal digital currency, that will provide benefits greater than PayPal's existing value proposition. When I use PayPal as a consumer I see no fees, fast transaction times, and my transactions are denominated in USD. Related: Is Bitcoin Your Chance To Profit Like A VC? If I were to use a PayPalCoin, what would be improved? Instead of having my account balance in dollars, would it be in USD and PayPalCoins? Would a PayPalCoin be irreversible, like bitcoin, so when using it as a consumer I have no recourse to get a refund? Would PayPalCoin be advertised as a way to gamble overseas or for illicit activities? I fail to see how a PayPalCoin would benefit consumers more than PayPal's existing offerings without running afoul of the law. PayPalCoin: Bad for PayPal Wagner's analysis also fails to address how PayPalCoin would benefit PayPal profits. First of all, PayPal would incur costs to create and maintain a PayPalCoin. Then, to provide price stability, PayPal would need to provide settlement to another asset like the U.S. dollar. Bitcoin's security comes at a cost. This year it is estimated the bitcoin network will pay the miners 1,312,500 bitcoins (about half-a-billion U.S. dollars at today's prices). Then there are liabilities. Will PayPal ignore robbed customers? It is hard to imagine PayPal not being involved in the ongoing Mt. Gox lawsuits, if Mt. Gox had traded PayPalCoin instead of bitcoin. Lastly there have been privately-issued digital currencies since the 1990s . All have run into trouble with criminal activity on their network, and some ended with jail-time for their executives. Story continues These liabilities and additional costs beg the question: how would PayPal profit from PayPalCoin? Will PayPal charge customers to convert between PayPalCoin and USD? As pointed out by Wagner, one of bitcoin's key advantages is the low transaction fees. Will PayPal take the fee credit card companies would get, thereby eliminating the PayPalCoin cost advantage compared to bitcoin? I fail to see how PayPal can profit from a digital currency that is cheaper than bitcoin. That seems similar to Encyclopedia Britannica competing with Wikipedia. Keep it Simple –- Just Use Bitcoin I agree with Wagner when he states, “Paypal can either get in front of this Bitcoin bandwagon or get run over by it.” PayPal can get the advantages of a PayPalCoin by simply using bitcoin. This avoids the costs of creating a coin, maintaining a coin network and assuming legal liabilities -- all while benefitting from bitcoin's ease of use, low transaction fees and security. PayPal would increase profits by transmitting money at a lower cost, having faster settlements and having the ability to eliminate fraud when receiving funds. These abilities would open up new PayPal use cases. Despite Wagner's assertion that volatility is inherent to bitcoin, that volatility only exists because the technology is new, liquidity is low and adoption is low. Microsoft, Google, Apple, Facebook: all these companies have had high volatility, and that volatility has decreased as the companies have become bigger and more established. The same thing is happening with bitcoin. As usage increases, volatility decreases and bitcoin becomes more valuable, leading to a virtuous cycle. Similar to how Apple's OS X benefitted from open source, PayPal should use bitcoin to better compete with companies like Western Union and Visa. Disclosure: At the time of this writing David Smith has a long bitcoin position. Related Links Anadarko Issues Statement Related to Favorable Ruling in Deepwater Horizon Trial Feds Warn About Latest Million IRS Phone Scam Down On The Corner Of Main Street And Wall Street © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
1,395,433,885 | 2014-03-21 20:31:25+00:00 | {"Bitcoin": [2483, 3303], "BTC": [861]} | {} | Mt. Gox says it found 200,000 bitcoins in 'forgotten' wallet | https://finance.yahoo.com/news/mt-gox-says-found-200-000-bitcoins-forgotten-033921266--sector.html | Reuters | https://www.reuters.com/ | By Sophie Knight TOKYO (Reuters) - Mt. Gox said on Friday it found 200,000 "forgotten" bitcoins on March 7, a week after the Tokyo-based digital currency exchange filed for bankruptcy protection, saying it lost nearly all the 850,000 bitcoins it held, worth some $500 million (303.15 million pounds) at today's prices. Mt. Gox made the announcement on its website. Online sleuths had noticed around 200,000 bitcoins moving through the crypto-currency exchange after the bankruptcy filing. The exchange, headed by 28-year-old Frenchman Mark Karpeles, said the bitcoins were found in an old-format online wallet which it had thought no longer held any bitcoins, but which it checked again after its bankruptcy filing. "On March 7, 2014, MtGox Co., Ltd. confirmed that an old format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC," the statement said. It added that "for security reasons" it moved the 200,000 bitcoins from online to offline wallets on March 14-15. "These bitcoin movements, including the change in the manner in which these coins were stored, had been reported to the court and the supervisor by counsels," Mt. Gox said. A lawyer representing the plaintiffs in a class action suit against the shuttered exchange disputed the claim that the bitcoins had been "forgotten" in a dormant wallet. Many of Mt. Gox's 127,000 creditors, who feared they had lost their investments when the exchange filed for bankruptcy, are sceptical about what the exchange has said happened to the bitcoins it had. In its bankruptcy filing, Mt. Gox also said $28 million (16.97 million pounds) was "missing" from its Japanese bank accounts. BITCOIN TRACKING On Thursday, a U.S. judge in Chicago overseeing a class action against Mt. Gox revised a previous order, allowing some of the exchange's bitcoin movements to be tracked. "Today in court we got relief ... specifically to track the 180,000 bitcoins, which we've been monitoring. Hours later, Mt. Gox claimed it 'found' these bitcoins ... it appears Mt. Gox realized we were close and decided to acknowledge that it owned these 180,000-200,000 bitcoins," Steven L. Woodrow, a partner at law firm Edelson, told Reuters in emailed comments. Edelson is representing Illinois resident Gregory Greene, who proposed the class action over what he claims is a massive fraud. Mt. Gox blamed the loss of 750,000 bitcoins belonging to its customers and 100,000 of its own on hackers who attacked its software. Bitcoin is bought and sold on a peer-to-peer network independent of central control. Its value soared last year, and the total worth of bitcoins is now about $7 billion. BLOCKCHAIN EVIDENCE In an interview on Friday, Woodrow said the claim that the newly discovered bitcoins had been in a long-dormant wallet was false, citing publicly visible information about the contents of Mt. Gox's bitcoin wallets, which can be viewed on the internet. "The idea that there were 200,000 or 180,000 bitcoins in a single wallet that they just discovered which had been dormant for years that contained 180,000 bitcoins is undercut by plain evidence on the blockchain," Woodrow said. The blockchain is a public ledger recording every movement of each bitcoin in existence. Entries to the blockchain are made automatically, as part of Bitcoin's software. "On March 7th there's a transaction where transferred batches of bitcoins containing 40,000 and 50,000 each into a single address holding the 180,000." Karpeles' lawyers did not immediately respond to a request for comment. Woodrow said the blockchain showed the 180,000 bitcoins were distributed in batches of 50 bitcoins each to separate wallets over a period of four days starting March 7. "At no point was the bankruptcy Court in Dallas notified of this at all, despite Mr. Karpeles supposedly informing his lawyers about it on March 8th and Mt. Gox seeking Chapter 15 protection on the 10th," Woodrow said. (Additional reporting by Tom Hals in Delaware and Emily Flitter in New York; Editing by Tom Brown) |
1,395,434,286 | 2014-03-21 20:38:06+00:00 | {"Bitcoin": [12412]} | {} | Market Wrap For March 21: Markets End Friday On A Negative Note, But Still Positive For The Week | https://finance.yahoo.com/news/finance.yahoo.com/news/market-wrap-march-21-markets-203806021.html | Benzinga | http://www.benzinga.com/ | U.S. stocks slipped to negative territory aided in part by Friday being a quadruple witching trading session. Major indices sold off in the afternoon as investors likely took some chips off the table going in to an uncertain weekend with the situation in Ukraine far from resolved. The S&P 500 hit a new intra-day all time high of 1,883.97 before reversing course and ending the day slightly lower on no major market moving news. The Dow lost 0.16 percent, closing at 16,305.14. The S&P 500 lost 0.29 percent, closing at 1,866.60. The Nasdaq lost 0.98 percent, closing at 4,276.79. Gold gained 0.35 percent, trading at $1,335.10 an ounce. Oil gained 0.50 percent, trading at $99.39 a barrel. Silver lost 0.56 percent, trading at $20.32 an ounce. News of Note Atlanta Fed Business Inflation Expectations came in at +1.8 percent, lower than the previous expectation of +2.0 percent. Fitch reiterated the United States with an AAA rating and raised the outlook to stable. Jeff Currie, head of commodities research at Goldman Sachs reiterated his $1,050 per ounce price target on gold. Currie cited economic slowdown induced by weather, Chinese credit concerns and tensions in Ukraine is reasons to stick with his previous forecast. Analyst Upgrades and Downgrades of Note Analysts at Macquarie initiated coverage of Apple (NASDAQ: AAPL ) with an Outperform rating and $630 price target. Shares gained 0.79 percent, closing at $532.87. Analysts at Goldman Sachs downgraded Boeing (NYSE: BA ) to Neutral from Buy with a price target lowered to $134 from a previous $155. Shares lost 0.89 percent, closing at $122.63. Analysts at HSBC downgraded China Mobile (NYSE: CHL ) to Neutral from Overweight. Shares hit new 52 week lows of $41.35 before closing the day at $41.55, down 3.17 percent. Analysts at Nomura maintained a Buy rating on Freeport McMoRan (NYSE: FCX ) with a Buy rating and a price target lowered to $43 from a previous $45. Shares gained 4.53 percent, closing at $32.30. Story continues Analysts at Argus Research downgraded Herbalife (NYSE: HLF ) to Hold from Buy. Shares lost 2.30 percent, closing at $49.62. Analysts at DA Davidson maintained a Neutral rating on Nike (NYSE: NKE ) with a price target raised to $82 from a previous $80. Shares lost 5.11 percent, closing at $75.22. Analysts at CLSA initiated coverage of NVIDIA (NASDAQ: NVDA ) with an Underperform rating and $19 price target. Shares lost 0.32 percent, closing at $18.51. Analysts at Argus Research maintained a Buy rating on SanDisk (NADSAQ: SNDK) with a price target raised to $92 from a previous $80. Shares hit new 52 week highs of $82.55 before closing the day at $80.10, down 0.77 percent. Recommended: Comcast Isn't Offering HBO Go For Roku Users Any Time Soon Analysts at Goldman Sachs upgraded United Technologies (NYSE: UTX ) to Buy from Neutral with a price target raised to $138 from a previous $123. Shares gained 0.71 percent, closing at $114.58. Analysts at Janney Capital maintained a Buy rating on VMware (NASDAQ: VMW ) with a Buy rating and a price target raised to $130 from a previous $105. Shares hit new 52 week highs of $111.41 before closing the day at $109.29, down 1.25 percent. Analysts at Morgan Stanley maintained an Overweight rating on Walter Energy (NYSE: WLT ) with a price target lowered to $27 from a previous $33. Shares gained 3.30 percent, closing at $7.51. Analysts at Cantor Fitzgerald downgraded Walgreen (NYSE: WAG ) to Sell from Hold with a $50 price target. Shares lost 2.48 percent, closing at $64.85. Equities-Specific News of Note A senate panel is investigating Caterpillar (NYSE: CAT ) for allegedly dodging U.S. taxes. The Permanent Subcommittee on Investigations plans to begin hearings in early April. Shares hit new 52 week highs of $97.63 before closing the day at $97.32, up 1.16 percent. E-House Holdings (NYSE: EJ ) revealed that Tencent has paid $180 million for 15 percent of its online real estate service provider Leju Holdings. Shares of E-House lost 0.99 percent, closing at $12.96. Last night, Discover Financial Services (NYSE: DFS ) announced a $1.6 billion buyback program and plans to boost its quarterly dividend to $0.24 from $0.20. Shares hit new 52 week highs of $60.00 before closing the day at $57.78, down 1.60 percent. Wellpoint (NYSE: WLP ) raised its net income per share projection to $8.20 from a previous $8.00, citing an increase in enrollment of one million to 1.3 million new members. Shares hit new 52 week highs of $102.56 before closing the day at $99.72, up 0.01 percent. According to CNBC , Wal-Mart (NYSE: WMT ) is looking to take market share in the home improvement sector by slashing prices and offering a great product assortment in its outdoor living and lawn and garden segments. Shares gained 1.47 percent, closing at $76.49. AK Steel (NYSE: AKS ) warned that it expects to report a loss of $0.44 to $0.49 per share when it will announce its first quarter results on April 22. The company announced that the average selling price for the first quarter will increase by approximately six percent to $1,095, above its average selling price of $1,031 per ton in the fourth quarter of 2013. Shares gained 4.18 percent, closing at $6.98. Mosaic's (NYSE: MOS ) CEO James Prokopanko said that he will resume his regular work schedule despite being diagnosed with cancer and undergoing chemotherapy. Shares lost 0.77 percent, closing at $48.66. Recommended: CEO of Brewery Ommegang Talks High-End 'Game Of Thrones' Beer And Sales Vringo (NASDAQ: VRNG ) will present its case in a U.S. federal appeals court on May 6 in its infringement suit against Google, AOL and several other firms. Shares gained 2.48 percent, closing at $3.72. General Motors' (NYSE: GM ) CEO Mary Barra will testify to The House Energy & Commerce Committee on April 1. Shares lost 0.94 percent, closing at $34.93. Three Democratic members of the House Committee on Energy and Commerce said that they were concerned over Gilead Sciences' (NASDAQ: GILD ) plans to charge $84,000 per treatment of Sovaldi. The members said they were concerned that Sovalidi would not be able to cure patients if the patients cannot afford the drug. Shares lost 4.57 percent, closing at $72.07. President Obama could possibly be giving up his BlackBerry (NASDAQ: BBRY ) device. The White House is testing Samsung and LG Electronic smartphone for use in the White House. Separately, BlackBerry will sell more than three million square feet of its Canadian office space and vacant lands but promises to keep a strong presence in Canada and its home-town of Waterloo Ontario. Shares of BlackBerry lost 2.55 percent, closing at $9.18. Winners of Note Endocyte (NASDAQ: ECYT ) announced that a Phase 2b TARGET trial has met the primary endpoint for the combination of vintafolide (EC145/MK-8109) and docetaxel in folate receptor (FR)-positive recurrent non-small cell lung cancer (NSCLC) patients. "We are pleased with the results of this study, as the vintafolide/docetaxel combination showed meaningful activity in patients with recurrent NSCLC, meeting the primary endpoint of the trial," said Binh Nguyen, M.D., Ph.D., vice president of medical affairs at Endocyte. "This is our second randomized study in a very challenging indication, where vintafolide has met the primary endpoint when used in patients selected with the companion imaging agent etarfolatide." Shares hit new 52 week highs of $33.70 before closing the day at $28.17, up 92.42 percent. Lin Media (NYSE: LIN ) will be acquired by Media General (NYSE: MEG ) in a $1.6 billion deal. The combined entity will be the second largest TV broadcasting company with 74 network-affiliated owned or serviced TV stations reaching around 23 percent of U.S. households. Lin shareholders will receive $763 million in cash and 49.5 million shares of Media General priced at its 20-day average. In total, Lin shareholders will receive around $27.82 per share, a large gain compared to Lin's closing price yesterday at $14.90. Shares of Lin Media gained 22.75 percent, closing at $26.38 while Media General gained 1.61 percent, closing at $17.62. InterMune (NADSAQ: ITMN) shares rose after data showed that a rival firm, German based Boeiringer suffered a setback in two late-stage trials which showed that its nintedanib drug fell short of meeting its key secondary goals of improving overall health in lung cancer patients. InterMune recently completed a late-stage trial of its pirfenidone drug which fared better. 16.5 percent of patients who took the drug experienced disease progression, half of those who were given a placebo. Shares gained 5.33 percent, closing at $34.60 but traded as high as $38.29. Recommended: Down On The Corner Of Main Street And Wall Street Decliners of Note On Thursday, Symantec (NASDAQ: SYMC ) announced that its CEO Steve Bennett has been relieved of his duties. Bennett's tenure with the company lasted less than two years as the company has underperformed as of late with a series of disappointing earnings and ongoing share losses. Daniel Schulman, chairman of Symantec said that Bennett's firing “was the result of an ongoing deliberative process, and not precipitated by any event or impropriety.” Michael Brown has been named interim CEO. This morning, seven major analyst firms downgraded shares, including analysts at MKM who noted that company faces “another multi-year period of upheaval, management turnover and strategic uncertainty as it tries to re-position and transform a largely legacy business of security and infrastructure software and services." Shares hit new 52 week lows of $17.95 before closing the day at $18.20, down 12.94 percent. EnLink Midstream Partners (NYSE: ENLK) announced a secondary offering of 17.99 million units representing the holding of a limited partner GSO Crosstext Holdings. Total proceeds will total around $550 million and the company won't receive any of the proceeds. Shares lost 5.41 percent, closing at $30.40. Lions Gate (NYSE: LGF ) newly released Divergent film drew in $4.9 million in U.S. and Canadian ticket sales on Thursday, well below the $19.7 million the company collected in 2012 for Hunger Games. Early reviews of the film appear to be mixed but the company has already approved a sequel scheduled to release around the same time next year. Shares lost 7.85 percent, closing at $27.60. Earnings of Note This morning, Tiffany & Co (NYSE: TIF ) reported its fourth quarter results. The company announced an EPS of $1.47, missing the consensus estimate of $1.52. Revenue of $1.29 billion missed the consensus estimate of $1.31 billion. Worldwide net sales rose five percent to $1.3 billion and comparable store sales rose six percent in the quarter. In the Americas region, total sales rose six percent to $659 million while comparable store sales rose seven percent in the quarter. Tiffany posted a net loss in the quarter of $103.6 million compared to a net profit of $179.6 million in the same quarter last year. The company noted that it took a pretax charge of $473 million related to an arbitration case against Swatch. Tiffany issued downside guidance and sees its full year 2014 EPS to be $4.05 to $4.15, below the consensus estimate of $4.28. Shares lost 0.48 percent, closing at $90.73. Recommended: Starbucks Introduces Tech To Its Coffee This morning, Darden Restaurants (NYSE: DRI ) reported its third quarter results. The company announced an EPS of $1.02, beating the consensus estimate of $1.82. Revenue of $2.23 billion missed the consensus estimate of $2.25 billion. Darden estimates that its earnings per share took a $0.07 hit due to severe weather which slowed down traffic and a $0.06 hit due to an implementation of a new strategic plan. Net earnings for the quarter fell to $109.7 million from $134.4 million in the same quarter last year. U.S. same-restaurant sales increased 0.3% at LongHorn Steakhouse, declined 5.4% at Olive Garden, declined 8.8% at Red Lobster and declined 0.7% at the Specialty Restaurant Group. Darden reaffirmed its full year fiscal 2014 guidance of a 15 percent to 20 percent decline in EPS, excluding any costs from its strategic plan that it announced in December. Shares gained 2.76 percent, closing at $50.66. Quote of the Day "Everybody's lookin' forward to the weekend" - Rebecca Black, Lyrics from "Friday" Related Links Favorable Data for Myriad Genetics - Analyst Blog PayPal Should Use Bitcoin, Not Compete Caterpillar Sales Growth in the Red - Analyst Blog © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
1,395,435,338 | 2014-03-21 20:55:38+00:00 | {"Bitcoin": [8815]} | {} | What Hours Can Nadex Binary Option Contracts Be Traded? | https://finance.yahoo.com/news/hours-nadex-binary-option-contracts-205538701.html | Benzinga | http://www.benzinga.com/ | Nadex recently added nighttime intraday, forex and international index, intraday binaries. As Nadex has grown, over 100% in the past year, it has added more instruments to trade binaries on and more expirations around the clock. Whether you want to trade on Sunday evening, after work, early in the morning during the London open, or when the NYSE bell rings, there are Nadex binaries open around the clock for any schedule on a variety of markets. This covers U.S. and international stock indices, energy, metal and agricultural commodities, and spot fx (forex/foreign exchange) pair binaries which are available for you to trade on the Nadex exchange. Related: 12 Things To Consider When Trading Binary Options Below is a list of each market available on Nadex and the hours available for trading so you can review it and find the markets and times that best fit your trading schedule. U.S. Index Future Nadex Binaries U.S. 500 Nadex Binaries (Underlying Symbol & Instrument: ES CME® E-mini S&P 500 Index® Futures) U.S. Tech 100 Nadex Binaries (Underlying Symbol & Instrument: NQ CME® E-mini NASDAQ 100 Index® Futures) Wall Street 30 Nadex Binaries (Underlying Symbol & Instrument: YM CBOT® E-mini Dow® Futures) Small Cap 2000 Nadex Binaries (Underlying Symbol & Instrument: TF ICE® Mini Russell 2000 Index® Futures) The Weekly Contracts begin at 3:00 am on Monday to 4:15 pm ET on Friday. They are open for trading from 3:00 am Monday to 4:15 pm Friday (closed between 5:00 and 6:00 pm ET). The Daily Contracts begin at 3:00 am Monday to 4:15 pm ET Monday The Daily Contracts begin at 6:00 pm Monday to 4:15 the following day, with Final Expiration at 4:15 pm on Friday. Exception : the Small Cap 2000 (Russell 2000/TF binary) begins trading at 8 PM each evening Monday through Thursday until 4:15 PM the following day with the final expiration on Friday at 4:15 PM The Intraday Contracts begin at 8:00 am with the first expiration at 10:00 M and a new binary contract starts every hour, with the final intraday binary contract expiring at 4:00 PM each week day. Story continues International Future Index Nadex Binaries Japan 225 Nadex Binaries (Underlying Symbol & Instrument: NK SGX® Nikkei 225 Yen Index Futures [not CME futures]) The Weekly Japan 225 begins trading at 7:45 PM ET on Sunday and expire at 2:25 am ET on Friday. It is open for trading during the daily contract trading hours. The Daily Japan 225 begins trading at 7:45 pm ET until 2:25 am ET, Sunday through Friday. The Intraday Japan 225 begins trading at 8:00 pm ET, with the first expiration at 10:00 pm ET and the final intraday expiration at 2:00 am ET. FTSE 100 (Underlying Symbol & Instrument: Z Liffe FTSE 100 Index Futures) Germany 30 Nadex Binaries (Underlying Symbol & Instrument: FDAX Eurex DAX Index® Futures) The Weekly contracts begin trading at 3:00 am ET on Monday and expire at 4:00 pm ET on Friday. It is open for trading during the daily contract trading hours. The Daily contracts begin trading at 3:00 am ET until 4:00 pm ET Monday through Friday. The Intraday contracts begin trading at 3:00 pm ET, with the first expiration at 5:00 am ET and the final intraday expiration at 4:00 pm ET. Future Commodities Metal Nadex Binaries Gold Nadex Binaries (Underlying Symbol & Instrument: GC COMEX/NYMEX® Gold Futures) The Weekly contracts begin trading at 3:00 am ET on Monday and expire at 1:30 pm ET on Friday. They are open for trading during the daily contract trading hours plus from 1:30 pm to 5:00 pm Monday through Thursday. The Daily contracts begin at 3:00 am Monday to 1:30 pm ET Monday. The Daily contracts begin at 6:00 pm Monday to 1:30 pm the following day, with Final Expiration at 1:00 pm on Friday. The Intraday contracts begin trading at 8:00 am ET, with the first expiration at 10:00 am ET and the final intraday expiration at 1:00 pm ET. Silver Nadex Binaries (Underlying Symbol & Instrument: SI COMEX/NYMEX® Silver Futures) The Weekly contracts begin trading at 3:00 am ET on Monday and expire at 1:25 pm ET on Friday. They are open for trading during the daily contract trading hours plus from 1:25 pm to 5:00 pm Monday through Thursday. The Daily contracts begin at 3:00 am Monday to 1:25 pm ET Monday. The Daily contracts begin at 6:00 pm Monday to 1:25 pm the following day, with Final Expiration at 1:00 pm on Friday. The Intraday contracts begin trading at 8:00 am ET with the first expiration at 10:00 am ET and the final intraday expiration at 1:00 pm ET. Copper Nadex Binaries (Underlying Symbol & Instrument: HG COMEX/NYMEX® Copper Futures) The Weekly contracts begin trading at 3:0 am ET on Monday and expire at 1:30 pm ET on Friday. They are open for trading during the daily contract trading hour,s plus from 1:25 pm to 5:00 pm Monday through Thursday. The Daily contracts begin at 3:00 am Monday to 1:30 pm ET Monday. The Daily contracts begin at 6:00 pm Monday to 1:30 pm the following day, with Final Expiration at 1:00 pm on Friday. The Intraday contracts begin trading at 8:00 am ET with the first expiration at 10:00 am ET and the final intraday expiration at 1 PM ET. Future Commodities Energy Nadex Binaries Crude Oil Nadex Binaries (Underlying Symbol & Instrument: CL NYMEX® Crude Oil Futures) The Weekly contracts begin trading at 3:00 am ET on Monday and expire at 2:30 pm ET on Friday. They are open for trading during the daily contract trading hours, plus from 2:30 pm ET to 5:00 pm ET, Monday through Thursday. The Daily contracts begin at 3:00 am Monday to 2:30 pm ET Monday. The Daily contracts begin at 6 PM Monday to 2:30 PM the following day with Final Expiration at 1:00 PM on Friday. The Intraday contracts begin trading at 8:00 am ET, with the first expiration at 10:00 am ET and the final intraday expiration at 2 PM ET. Natural Gas Nadex Binaries (Underlying Symbol & Instrument: NG NYMEX® Natural Gas Futures) The Weekly contracts begin trading at 3:00 am ET on Monday and expire at 2:30 pm ET on Friday. They are open for trading during the daily contract trading hours plus from 2:30 pm ET to 5:00 pm ET Monday through Thursday. The Daily contracts begin at 3:00 am Monday to 2:30 pm ET Monday. The Daily contract begin at 6:00 pm Monday to 2:30 pm ET the following day, with Final Expiration at 1:00 pm on Friday. The Intraday contracts begin trading at 8:00 am ET with the first expiration at 10:00 am ET and the final intraday expiration at 2:00 pm ET. Future Commodities Agricultural Nadex Binaries Corn Nadex Binaries (Underlying Symbol & Instrument: ZC CBOT® Corn Futures) The Weekly contracts begin trading at 10:30 am ET on Monday and expire at 2:15 pm ET on Friday. They are open for trading during the daily contract trading hours. The daily contracts begin at 10:30 am ET Monday to 2:15 pm ET, Monday Through Friday. Soybean Nadex Binaries (Underlying Symbol & Instrument: ZS CBOT® Soybean Futures) The Weekly contracts begin trading at 10:30 am ET on Monday and expire at 2:15 pm ET on Friday. They are open for trading during the daily contract trading hours. The Daily contracts begin at 10:30 am ET Monday to 2:15 pm ET, Monday through Friday. Spot Forex Nadex Binaries All Nadex Binaries are Based on Reuters Forex Spot Quotes. They are not based on the Forex future or the Forex ETF contracts. EUR/USD USD/JPY GBP/USD AUD/USD The Weekly contracts begin trading at 6:00 pm ET on Sunday and expire at 3:00 pm ET on Friday. They are open for trading from 6:00 pm ET Sunday to 3:00 pm ET Friday. (Closed between 5:00 pm ET and 6:00 pm ET Monday through Thursday). The Daily contracts begin trading 23 hours before expiration. Daily expirations are at 7:00 pm, 11:00 pm, 3:00 am, 7:00 am, 11:00 am and 3:00 pm ET. There is not a 7:00 pm or 11:00 pm expiration on Friday. There is not a 7:00 pm expiration on Sunday. The Intraday contracts begin trading at 6:00 pm ET Sunday with the first expiration at 8:00 pm ET, and the final intraday expiration at 5:00 pm ET the following day through Friday. On Friday there is not a 5:00 pm intraday expiration. EUR/JPY AUD/JPY GBP/JPY EUR/GBP USD/CAD USD/CHF The Weekly contracts begin trading at 6:00 pm ET on Sunday and expire at 3:00 pm ET on Friday. They are open for trading from 6:00 pm ET Sunday to 3:00 pm ET Friday (closed between 5:00 pm ET and 6:00 pm ET, Monday through Thursday). The Daily contracts begin trading 23 hours before expiration. Daily expirations are at 7:00 pm PM, 11:00 pm, 3:00 am, 7:00 am and 3:00 pm ET. There is not a 7:00 pm or 11:00 pm expiration on Friday. There is not a 7:00 pm expiration on Sunday. The Intraday contracts begin trading at 8:00 am ET on Monda,y with the first expiration at 10:00 am ET and the final intraday expiration at 3:00 pm ET the following day through Friday. Related Links #PreMarket Prep Guest List For The Week of March 24, 2014 PayPal Should Use Bitcoin, Not Compete Feds Warn About Latest Million IRS Phone Scam © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
1,395,436,450 | 2014-03-21 21:14:10+00:00 | {"Bitcoin": [2436, 3272], "BTC": [837]} | {} | Mt. Gox says it found 200,000 bitcoins in 'forgotten' wallet | https://finance.yahoo.com/news/mt-gox-says-found-200-034844325.html | Reuters | https://www.reuters.com/ | By Sophie Knight TOKYO (Reuters) - Mt. Gox said on Friday it found 200,000 "forgotten" bitcoins on March 7, a week after the Tokyo-based digital currency exchange filed for bankruptcy protection, saying it lost nearly all the 850,000 bitcoins it held, worth some $500 million at today's prices. Mt. Gox made the announcement on its website. Online sleuths had noticed around 200,000 bitcoins moving through the crypto-currency exchange after the bankruptcy filing. The exchange, headed by 28-year-old Frenchman Mark Karpeles, said the bitcoins were found in an old-format online wallet which it had thought no longer held any bitcoins, but which it checked again after its bankruptcy filing. "On March 7, 2014, MtGox Co., Ltd. confirmed that an old format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC," the statement said. It added that "for security reasons" it moved the 200,000 bitcoins from online to offline wallets on March 14-15. "These bitcoin movements, including the change in the manner in which these coins were stored, had been reported to the court and the supervisor by counsels," Mt. Gox said. A lawyer representing the plaintiffs in a class action suit against the shuttered exchange disputed the claim that the bitcoins had been "forgotten" in a dormant wallet. Many of Mt. Gox's 127,000 creditors, who feared they had lost their investments when the exchange filed for bankruptcy, are skeptical about what the exchange has said happened to the bitcoins it had. In its bankruptcy filing, Mt. Gox also said $28 million was "missing" from its Japanese bank accounts. BITCOIN TRACKING On Thursday, a U.S. judge in Chicago overseeing a class action against Mt. Gox revised a previous order, allowing some of the exchange's bitcoin movements to be tracked. "Today in court we got relief ... specifically to track the 180,000 bitcoins, which we've been monitoring. Hours later, Mt. Gox claimed it 'found' these bitcoins ... it appears Mt. Gox realized we were close and decided to acknowledge that it owned these 180,000-200,000 bitcoins," Steven L. Woodrow, a partner at law firm Edelson, told Reuters in emailed comments. Edelson is representing Illinois resident Gregory Greene, who proposed the class action over what he claims is a massive fraud. Mt. Gox blamed the loss of 750,000 bitcoins belonging to its customers and 100,000 of its own on hackers who attacked its software. Bitcoin is bought and sold on a peer-to-peer network independent of central control. Its value soared last year, and the total worth of bitcoins is now about $7 billion. Story continues BLOCKCHAIN EVIDENCE In an interview on Friday, Woodrow said the claim that the newly discovered bitcoins had been in a long-dormant wallet was false, citing publicly visible information about the contents of Mt. Gox's bitcoin wallets, which can be viewed on the internet. "The idea that there were 200,000 or 180,000 bitcoins in a single wallet that they just discovered which had been dormant for years that contained 180,000 bitcoins is undercut by plain evidence on the blockchain," Woodrow said. The blockchain is a public ledger recording every movement of each bitcoin in existence. Entries to the blockchain are made automatically, as part of Bitcoin's software. "On March 7th there's a transaction where transferred batches of bitcoins containing 40,000 and 50,000 each into a single address holding the 180,000." Karpeles' lawyers did not immediately respond to a request for comment. Woodrow said the blockchain showed the 180,000 bitcoins were distributed in batches of 50 bitcoins each to separate wallets over a period of four days starting March 7. "At no point was the bankruptcy Court in Dallas notified of this at all, despite Mr. Karpeles supposedly informing his lawyers about it on March 8th and Mt. Gox seeking Chapter 15 protection on the 10th," Woodrow said. (Additional reporting by Tom Hals in Delaware and Emily Flitter in New York; Editing by Tom Brown) nL2N0MI1HN View comments |
1,395,443,265 | 2014-03-21 23:07:45+00:00 | {"BTC": [1210]} | {} | Can Sina's Weibo Keep Up with the Competition? | https://finance.yahoo.com/news/sinas-weibo-keep-competition-230745332.html | GuruFocus.com | http://www.gurufocus.com/ | Sina Corporation (SINA), a Shanghai-based leading Internet company, has been providing online media and value-added information services to global Chinese communities since established in 1998. Being known for its high-quality news and information, this company attracts a great number of users, providing services through three major business lines: SINA.com, SINA mobile and SINA community (Weibo). Sina offers advertising services, short messaging services (SMS), email services, game community services, and mobile value added services (MVAS), search and directory, blog services, audio and video streaming, e-commerce and enterprise e-solutions. David Winters Stock Picks David Winters Current Portfolio This Powerful Chart Made Peter Lynch 29% A Year For 13 Years The size of this network has turned the company's platform into a highly attractive online advertising venue, and has had significant influence over Sina's revenue: online advertising represented 53% of company's total revenue for fiscal 2013. Revenue total includes as well MVAS revenues and fee-based revenues. Moreover, it has developed strategic relationships with partners such as China News, AFP, Associate Press, Getty Images, CCTV, BTC, Nanfang Daily Group, Xinhua Net and Beijing News among others. The company is facing some hard time with mixed fourth-quarter results and the stiff competition amid the Chinese markets, which is increasing with the expansion of companies like Youku Tudou Inc. (YOKU), Baidu, Inc. (BIDU) and NetEase, Inc. (NTES), among others, and threatens to hurt Sina's profitability in the near term. Nevertheless, its strong product pipeline and constant investment in innovation and new marketing solutions have positioned the company as a premier enterprise in the Internet and Internet Content industry. Furthermore, the company is expected to proceed with the Weibo initial public offering, adding value to shareholders. Despite its planned growth strategy, involving vertical expansion and restructuring, the Chinese government is increasing its regulations and is likely to obstacle the company's movements. Story continues Weibo on the Watch As we know these days, user engagement of social networking is shifting around the world to mobile devices. In this sense, the usage of mobile service Sina Weibo has been increasing. Launched in 2009 as a follow-up to its regular blog service, and quickly becoming a popular platform for sharing original user-generated content, Weibo has accumulated more than 500 million registered users and 61 million daily active users, as of 2013. Its microblog service, which uses Twitter-like a short message concept, has already proven to be successful, and was recently enhanced by allowing users to share media rich videos and audio content. Users can as well interact with celebrities by replying, sharing or clicking the "Like" button. In 2012 Sina started monetizing its Weibo business by rolling out display ads. As a result, Weibo's revenue achieved over 190% growth in 2013 year over year. However, Weibo's display advertisement frequency will need to be balanced in order to preserve user experience. Moreover, Tencent's WeChat is starting to challenge Weibo's leadership in the mobile space with less advertisement and more functions. Its number of daily active users grew by 359% between 2012's first quarter and 2013's third quarter, and has already surpassed 100 million daily active user bases, 50 million more than Sina Weibo as of 2013's third quarter. Nevertheless, Weibo has different functions and is still the primary user's choice in social networking. Weibo's still growing popularity was reflected by the 20 million downloads the latest Weibo mobile application version 3.6 received within a week after its release. Market Expansion and Business Opportunities Chinese market is in constant expansion, and Sina, as a leading Internet portal, can benefit from the huge growth potential of the e-commerce, e-banking, online payment and entertainment services. Digital ad spending in China is as well expected to increase, and given Sina's brand recognition and persistent marketing innovation, analysts think the company will grab this growth opportunity. Moreover, the massive adoption of smartphones and tablet devices is expected to expand the mobile market and thus boost the number of mobile users of Sina's services, increasing MVAS business, and thereby driving top-line growth. New partnerships have been developing as well. Teaming up with companies such as Alibaba, Baidu, Inc. (BIDU) and AutoNavi Holdings Limited (AMAP), SINA is likely to expand its mobile services offer, and enhance Weibo as well. Final Thoughts It's no news the Chinese government has always imposed restrictions on internet services, online search and other social-networking activities, blocking websites like Twitter, YouTube and Facebook. Furthermore, direct advertisement is also highly regulated, implying a major restriction to this industry's companies, as online ads represents one of the major revenue sources. Weibo has suffered these tight restrictions, seeing as of august 2013 the closing of at least 100K accounts. This might have a negative outcome for Sina's Weibo monetization efforts in the near future. Competition, always fierce, is increasing within the online advertising business in China. Popular internet search companies such as Baidu (BIDU), AirMedia Group Inc. (AMCN), Microsoft Corporation (MSFT) and Google Inc. (GOOG), have attracted a lot of advertising clients in China, posing a threat to Sina's profitability margins. Despite the accelerating monetization of Weibo, the revenue growth and the expansion of its user's base, Sina's monetization of Weibo will eventually require a higher volume of advertisement display to sustain revenue levels. Moreover, the rising popularity of WeChat will compete in the mobile field for users and advertisers, and the governmental restrictions are likely to obstacle the company's expansion plans for Weibo. However, this stock has been for quite some time now a premium stock, with high levels of growth and a privileged position within the Chinese market that is expected to continue in the long run. Disclosure: Damian Illia holds no position in any stocks mentioned. This article first appeared on GuruFocus . |
1,395,579,460 | 2014-03-23 12:57:40+00:00 | {"Bitcoin": [31, 148, 180, 527, 750, 881, 1296, 1368, 1410, 1664, 1816, 1967, 2148, 2265, 2727, 2814, 4146, 4270, 4952, 6229, 6312, 6397]} | {"Bitcoin": [60]} | Meet The Company That's Trying To Offer All The Benefits Of Bitcoin But Without All Of The Headaches | https://finance.yahoo.com/news/meet-company-thats-trying-offer-125740145.html | Business Insider | http://www.businessinsider.com/ | ripple Ripple Most people know Bitcoin as a digital currency, with a value that has fluctuated wildly over the past six months. But there's more to Bitcoin than just the currency. Bitcoin has gotten an equal amount of attention for its novel technology. You don't need a third party to perform a transaction (although as a practical matter many now use one of the various consumer wallet sites). All transactions are noted on a ledger, meaning you're no longer subject to the-check-is-in-the-mail risk. And unlike a real bank, Bitcoin is basically neutral on the price and time that it takes to process an overseas or large transaction. Even Goldman Sachs analysts — who in a recent report otherwise came off pretty bearish on the currency aspect of Bitcoin — said the technology could prove useful. So it was only a matter of time before someone carved out all the meaty parts of Bitcoin while leaving the gristle for others. Enter Ripple, which indeed captures the three aforementioned elements of the cryptocurrency's underlying structure. But it does more than that: Its technology allows users to execute a transaction from any currency into another simultaneously, while eliminating exchange-rate risk. Users are also able to hang onto their fiat, rather than having to separately purchase Bitcoin. This helps eliminate the security problems experienced by some Bitcoin wallet service users. And whereas Bitcoin transactions take at least 10 minutes to confirm, Ripple confirmations are instant, thanks to its use of a consensus algorithm; the Ripple network is a closed system, so only approved "nodes," which would approve the transaction, can access it. "Bitcoin solved the double-spend problem," Ripple CEO Chris Larsen told BI recently. "The key problem was payment confirmation without central clearing. Bitcoin's solution was ingenious but wasteful — it's fairly slow, and you can't put other things on it. It's premised on forcing the world to adopt to Bitcoin, which is like making everyone switch to Esperanto." Story continues Susan Athey, a Stanford economist and paid adviser to Ripple, explained another key distinction between Bitcoin and Ripple. While the former is based on a community, the latter is designed to solve problems of commerce. "Bitcoin is sort of an open-source movement that is bootstrapping and getting big through the enthusiasm of a whole variety of different communities. It's a user-driven phenomenon. That's a great way to get a platform going, but another way to build a platform is to solve problem of a particular customer extremely well, and if it's a large customer, then all in one go you get a lot of adoption and utilization. Then smaller users follow." She continued: "With Bitcoin, we know it's amazing, and they can both be very effective. But what parts of [Bitcoin] are really necessary? Do I really need the mining ... the anonymity [is problematic] ... what is the essence of the system?" Ripple's pedigree is impressive. Google Ventures and Andreessen Horowitz are both backers. The CEO of China-based IDG Capital, which invests in some of China's largest tech firms, said upon completing his round: "We are excited about the prospect for a global payments system that powers instant, free, and secure transactions in any currency." It's extremely early in Ripple's life span, as far as widespread use goes. The basic structure of the technology is a decade old, but Ripple Labs (originally known as OpenCoin Inc.), the corporation that now owns Ripple, was only launched in 2012. And they only opened it up for developers to build on top of last fall. Though at $1.4 billion Ripple has the No. 2 market cap in the digital currency world , that's only because all Ripple coins have been 'pre-mined,' meaning all the coins that will ever come into existence have been created, by Ripple itself. (And again, the coins are largely perfunctory for users simply looking to use the network to send payments — they're basically just temporary vehicles for your fiat). As a result, it's hard to find folks running Ripple. The largest is actually Bitstamp, now the world's largest dollar-traded Bitcoin exchange. This appears to show that the two technologies can coexist (if it wasn't clear already, you can also send Bitcoin over the Ripple network). Another is SnapSwap , an online transaction gateway. Founder Denis Kiselev told us what he saw on Ripple: "If you look at the cryptocoin universe available now, you see whole families of cryptocurrencies derived from Bitcion — they use the same technology," he said. "Ripple is the only one that's substantially different, with a different mechanism of transaction confirmation, that allows you to do instant transactions across currencies, and only cryptocurrencies. I see it as a major step forward, a major advancement." You can watch the Ripple network live here » But Athey outlined clear uses of Ripple that are much harder to articulate for Bitcoin. One is that whole banking networks could be created based on trust using Ripple. "Local banks could agree to only talk to other customers of their own, check their identities to know if they're a legitimate business, to know they're not in North Korea," she said. "That is potentially a much more palatable way for bank to enter the system. They have a lot of control on who they interact." The other is that the cost of tracking payments can go down precipitously. "Companies are spending a lot of money for keeping ledgers of international currency flows. That's a business service. Some firms do that themselves, some hire external service providers, to help manage international flows. It's a big investment that's very important, and these systems are very complicated." Ripple's Larsen said they have begun preliminary discussions with mega financial institutions to see about using it as their primary "payment rail" for executing in-house transactions. "If you were executing a transaction involving all kinds of hedge funds, a path could be directed that instead of 20 hops would take one instant hop," he said. Again, it's still early, but definitely something to watch. More From Business Insider Meet The Company That's Trying To Offer All The Benefits Of Bitcoin But Without All Of The Headaches Dorian Nakamoto: Here's Why I Couldn't Be Bitcoin's Creator The Winklevoss Twins Are On The Verge Of Getting Beat At Their Own Bitcoin Game |
1,395,720,060 | 2014-03-25 04:01:00+00:00 | {"Bitcoin": [3223, 3286]} | {} | First of Its Kind Economic Analysis of Cyber Black Market Reveals Unprecedented Global Maturity | https://finance.yahoo.com/news/first-kind-economic-analysis-cyber-040100090.html | Marketwired | http://www.marketwired.com/ | SUNNYVALE, CA--(Marketwired - Mar 25, 2014) - Juniper Networks ( NYSE : JNPR ), the industry leader in network innovation, finds the cyber black markets have a mature economy with characteristics akin to those of a thriving metropolitan city. A new global report , sponsored by Juniper Networks and conducted by the RAND Corporation, reveals several economic indicators that cyber black markets have reached unprecedented levels of maturity and growth. While there has been significant research measuring different parts of the hacker black markets, RAND's report, " Markets for Cybercrime Tools and Stolen Data: Hackers' Bazaar ," examines for the first time these markets in their entirety and applies economic analysis to better understand how they function. RAND found significant levels of economic sophistication, reliability, accessibility and resilience in the products, distribution channels and actors involved in the black markets. RAND's report, confirmed by Juniper's vast experience in the network security ecosystem, suggests the cyber black markets are a mature and growing multi-billion-dollar economy with a robust infrastructure and social organization. RAND found these black markets, like any other economy, react to market forces like supply and demand, and continue to evolve. News Highlights: Juniper Networks likens the hacker black markets to a thriving metropolitan city with diverse communities, industries and interactions. Storefronts - Like other forms of e-commerce, many data records, exploit kits and goods are bought and sold from storefronts -- which can encompass everything from instant messaging chat channels and forums to sophisticated stores. RAND found some organizations can reach 70 to 80,000 people, with a global footprint that brings in hundreds of millions of dollars. Service Economy - RAND found that not only goods, but criminal services are available for purchase. These tools, sold on the black market as traditional software or leased like any other managed service, can help enable the most unskilled hackers to launch fairly elaborate and advanced attacks. For example, RAND found botnets, which can be used to launch a Distributed Denial of Service (DDoS) attack, are sold for as low as $50 for a 24-hour attack. Hierarchal Society - Much like a legitimate business, RAND found it takes connections and relationships to move up the (cyber) food chain. Getting to the top requires personal connections and those at the top are making the lion's share of the money. Rule of Law - There is indeed honor among thieves. RAND found many parts of the cyber black market are well structured, policed and have rules like a constitution. In addition, those who scam others are regularly banned or otherwise pushed off the market. Education and Training - RAND identified widely available tools and resources on the black markets that teach criminals how to hack, including instructions for exploit kits and where to buy credit cards. This access to training has accelerated sophistication, a broader set of roles and has helped facilitate entry into the hacker economy. Currencies - Transactions in the cyber black markets are often conducted by means of digital currencies. Bitcoin, Pecunix, AlertPay, PPcoin, Litecoin, Feathercoin, and Bitcoin extensions such as Zerocoin are a few. RAND found many criminal sites are starting to accept only digital crypto currencies due to their anonymity and security characteristics. Diversity - While RAND found cybercriminals from China, Latin America and Eastern Europe are typically known for quantity in malware attacks, those from Russia tend to be thought of the leader in quality. RAND also found areas of expertise and focus among different countries. Many Vietnamese criminal groups, for example, mainly focus on e-commerce hacks. Cybercriminals from Russia, Romania, Lithuania and Ukraine focus on financial institutions. Many Chinese cybercriminals specialize in intellectual property. And U.S.-based cybercriminals primarily target U.S.-based financial systems. In addition to a diverse set of cybercriminals, RAND also found more cross-pollination between these groups than ever before. Criminals - Even the criminal cyber black market has criminals. Known as "rippers," these specific bad guys do not provide the goods or services they claim. Story continues The research report, " Markets for Cybercrime Tools and Stolen Data: Hackers' Bazaar ," is based on in-depth interviews conducted by RAND between October and December 2013, with global experts who are currently or formerly involved in the market, including academics, security researchers, reporters, security vendors and law enforcement. It is the first of a series of reports from RAND that are sponsored by Juniper Networks. Supporting Quotes: "The security industry, government and legal communities must come together to establish new norms for how companies can more vigorously defend themselves against cyber-attacks. We must address the root cause behind the accelerated maturation of the cyber-crime market -- the very economics that drive its success. By disrupting the economics of hacking we can break the value chains that drive successful attacks. We must never lose the moral high ground, however, so we cannot go on the offensive and hack back, but we can no longer remain passive. By using forms of active defense such as intrusion deception we can identify, thwart and frustrate attackers. Active defense is a promising and exciting approach for addressing the rapidly evolving threat landscape." - Nawaf Bitar, senior vice president and general manager, security business, Juniper Networks Additional Resources Juniper Networks Executive Summary: From Underground City to Thriving Metropolis - An Economic Analysis of the Cyber Black Market RAND Corporation Report: Markets for Cybercrime Tools and Stolen Data: Hackers' Bazaar RAND Corporation Press Release Interactive Timeline: A Decade in the Making - Cyber Black Market Maturity Blog Post & Graphic: Black Market Prices: The Decline of Credit Cards and the Rise of Twitter Blog Post: Making a Choice for Good over Evil; the Conundrum Facing Today's Tech Geniuses Insight into the World of Hacker Economics - Webcast Registration The Next War Will Be Fought in Silicon Valley - Nawaf Bitar RSA 2014 Keynote About Juniper Networks in Security Juniper Networks builds secure and trusted networks with end-to-end security across every environment -- from the data center to campus and branch environments and to the device itself. Our security solutions give enterprise and service provider customers a competitive advantage as they set out to build the best networks on the planet. About Juniper Networks Juniper Networks ( NYSE : JNPR ) delivers innovation across routing, switching and security. From the network core down to consumer devices, Juniper Networks' innovations in software, silicon and systems transform the experience and economics of networking. Additional information can be found at Juniper Networks ( www.juniper.net ) or connect with Juniper on Twitter and Facebook . Juniper Networks and Junos are registered trademarks of Juniper Networks, Inc. in the United States and other countries. The Juniper Networks and Junos logos are trademarks of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners. Statements in this press release concerning Juniper Networks' prospects, future products and prospective benefits to customers are forward-looking statements that involve a number of uncertainties and risks. Actual results or events could differ materially from those anticipated in those forward-looking statements as a result of certain factors, including delays in scheduled product availability, the company's failure to accurately predict emerging technological trends, and other factors listed in Juniper Networks' most recent report on Form 10-K and 10-Q filed with the Securities and Exchange Commission. All statements made in this press release are made only as of the date of this press release. Juniper Networks undertakes no obligation to update the information in this release in the event facts or circumstances subsequently change after the date of this press release, except as required by applicable law. Any future product, feature, enhancement or related specification that may be referenced in this press release are for information purposes only, are subject to change at any time without notice and are not commitments to deliver any future product, feature, enhancement or related specification. The information contained in this press release is intended to outline Juniper Networks' general product direction and should not be relied on in making a purchasing decision. |
1,395,776,940 | 2014-03-25 19:49:00+00:00 | {"Bitcoin": [25, 158, 239, 508, 622]} | {} | IRS says bitcoins are taxable property, but not currency | https://finance.yahoo.com/news/2014-03-25-bitcoins-are-property.html | Engadget | https://www.engadget.com/ | People love referring to Bitcoin as a "cryptocurrency," but the Internal Revenue Service looks at it a little differently. According to a new IRS statement , Bitcoin should be considered property , not currency. What does that mean for US Bitcoin aficionados? Quite a bit, actually. Consider your growing stash of bitcoins. If you're the type who mines for bitcoins, the market value of what you receive counts as part of your gross income... just in time for tax season, naturally. Conducting commerce with Bitcoin may have become much trickier on the small scale, too. You have to deal with capital gains and losses for Bitcoin transactions if the value of those bitcoins fluctuates (doesn't it always?). Bloomberg explains what this means well: Under the ruling, purchasing a $2 cup of coffee with bitcoins bought for $1 would trigger $1 in capital gains for the coffee drinker and $2 of income for the coffee shop. Reporting those gains and losses may not be too troublesome for big, infrequent exchanges, but businesses that deal with plenty of smaller ones could have plenty of record keeping to do. And if you're a business that (for some reason) pays employees with bitcoins, that virtual wage is subject to income tax withholding. If those employees didn't get W-2s before, voilà -- they need 'em now. Long story short, bitcoin owners: Start keeping track of everything lest the taxman take issue with your methods and come poking around. |
1,395,786,674 | 2014-03-25 22:31:14+00:00 | {"Bitcoin": [1285]} | {} | IRS says bitcoin will be taxed like property | https://finance.yahoo.com/news/finance.yahoo.com/news/irs-says-bitcoin-taxed-property-184315331.html | Associated Press | https://apnews.com/ | WASHINGTON (AP) — Virtual currencies like bitcoin will be taxed like property — not currency, the Internal Revenue Service said Tuesday. The IRS says bitcoin is not legal tender. You can't use it to pay your taxes. However, if you receive wages in bitcoin, you have to pay taxes on it just like you would if you got paid in dollars. Or if you got paid in chickens. The IRS issued a series of 16 questions and answers Tuesday to clarify the tax treatment of virtual currencies like bitcoin. In general, the IRS says it will apply the same rules that govern other barter transactions. If you receive wages in bitcoin, they would be taxed at their fair market value at the time you were paid, the IRS said. If you use bitcoins to pay for goods or services, the vendor must report the income, using the fair market value of the bitcoins at the time of the transaction. For investors, bitcoins will be treated like other commodities, the IRS said. If they increase in value, you have to pay capital gains taxes after you sell them. If they lose value, you can recognize a capital loss. Created in 2009, bitcoin is an online currency that allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks or other third parties. Bitcoins have become popular with libertarians, tech enthusiasts and speculators. Regulators worry about criminals using them to avoid detection. In February, one of the largest bitcoin exchanges, based in Tokyo, filed for bankruptcy, adding to mistrust of the currency. Supporters say problems at the exchange were isolated. ___ Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap |
1,395,788,600 | 2014-03-25 23:03:20+00:00 | {"Bitcoin": [551]} | {"Bitcoin": [0]} | Bitcoins are property, not currency, IRS says regarding taxes | https://finance.yahoo.com/news/irs-rules-virtual-currencies-property-183627927.html | Reuters | http://www.reuters.com/ | By Kevin Drawbaugh and Patrick Temple-West WASHINGTON (Reuters) - Wading into a murky tax question for the digital age, the U.S. Internal Revenue Service said on Tuesday that bitcoins and other virtual currencies are to be treated, for tax purposes, as property and not as currency. "General tax principles that apply to property transactions apply to transactions using virtual currency," the IRS said in a statement, meaning that bitcoins would be taxed as ordinary income or as assets subject to capital gains taxes, depending on the circumstance. Bitcoin, the best-known virtual currency, started circulating in 2009. Its present market value is around $8 billion, with up to 80,000 transactions occurring daily, according to accounting firm PricewaterhouseCoopers LLP. Recent incidents have brought the currency under new regulatory scrutiny, such as the failure of Mt. Gox, a Tokyo-based exchange that filed for bankruptcy after losing an estimated $650 million worth of customer bitcoins. Unlike conventional money, bitcoin is generated by computers and is independent of control or backing by any government or central bank, which its proponents like, but which also has led to calls for more guidance on U.S. tax treatment. The IRS supplied that in its statement, which dealt a blow to bitcoin "miners," who unlock new bitcoins online. The IRS said miners must include the fair market value of the virtual currency as gross income on the date of receipt. This change "is a disincentive to start looking for bitcoins," said John Barrie, a partner with law firm Bryan Cave LLP, who advises charities that receive bitcoins as donations. NOT LEGAL TENDER The IRS also said that virtual currency is not to be treated as legal-tender currency to determine if a transaction causes a foreign currency gain or loss under U.S. tax law. For other forms of gains or losses involving virtual currency, the IRS explained how to determine the U.S. dollar value of virtual currency and said taxable gains or losses can be incurred in related property transactions. Story continues "The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer," the IRS said. If a taxpayer holds virtual currency as capital - like stocks or bonds or other investment property - gains or losses are realized as capital gains or losses, the agency said. However, when virtual currency is held as inventory or other property mainly for sale to customers in a trade or business, ordinary gains or losses are generally incurred, the IRS said. Capital gains and losses are taxable and deductible at different rates and amounts than ordinary gains and losses. Democratic Senator Tom Carper, who chaired a Senate committee hearing last year on bitcoin, said in a statement that the IRS guidance "provides clarity for taxpayers who want to ensure that they're doing the right thing and playing by the rules when utilizing bitcoin and other digital currencies." MINERS HURT New bitcoins come from a process called mining. Computer programmers around the world compete to crack an automatically generated code and the first to do so is rewarded with a small stash. This happens about every 10 minutes. Some online retailers will accept bitcoins as payment. The maximum potential number of bitcoins in circulation is 21 million, compared with around 12 million currently. On the IRS guidance, William Lewis, a lawyer in Sunnyvale, California, who represents a start-up company creating a platform for virtual currencies, said: "This is going to be unfavorable to bitcoin miners because they're going to have to include in income the fair market value of the virtual currency on the date they mined it. "It's going to make life difficult for a lot of people who have been mining over the past year, who have to go back and see what the values were on those dates when they mined it." (Additional reporting by Douwe Miedema; Editing by Steve Orlofsky) |
1,395,792,690 | 2014-03-26 00:11:30+00:00 | {"Bitcoin": [551]} | {"Bitcoin": [0]} | Bitcoins are property, not currency, IRS says regarding taxes | https://finance.yahoo.com/news/bitcoins-property-not-currency-irs-001130070.html | Reuters | https://www.reuters.com/ | By Kevin Drawbaugh and Patrick Temple-West WASHINGTON (Reuters) - Wading into a murky tax question for the digital age, the U.S. Internal Revenue Service said on Tuesday that bitcoins and other virtual currencies are to be treated, for tax purposes, as property and not as currency. "General tax principles that apply to property transactions apply to transactions using virtual currency," the IRS said in a statement, meaning that bitcoins would be taxed as ordinary income or as assets subject to capital gains taxes, depending on the circumstance. Bitcoin, the best-known virtual currency, started circulating in 2009. Its present market value is around $8 billion, with up to 80,000 transactions occurring daily, according to accounting firm PricewaterhouseCoopers LLP. Recent incidents have brought the currency under new regulatory scrutiny, such as the failure of Mt. Gox, a Tokyo-based exchange that filed for bankruptcy after losing an estimated $650 million worth of customer bitcoins. Unlike conventional money, bitcoin is generated by computers and is independent of control or backing by any government or central bank, which its proponents like, but which also has led to calls for more guidance on U.S. tax treatment. The IRS supplied that in its statement, which dealt a blow to bitcoin "miners," who unlock new bitcoins online. The IRS said miners must include the fair market value of the virtual currency as gross income on the date of receipt. This change "is a disincentive to start looking for bitcoins," said John Barrie, a partner with law firm Bryan Cave LLP, who advises charities that receive bitcoins as donations. NOT LEGAL TENDER The IRS also said that virtual currency is not to be treated as legal-tender currency to determine if a transaction causes a foreign currency gain or loss under U.S. tax law. For other forms of gains or losses involving virtual currency, the IRS explained how to determine the U.S. dollar value of virtual currency and said taxable gains or losses can be incurred in related property transactions. "The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer," the IRS said. If a taxpayer holds virtual currency as capital - like stocks or bonds or other investment property - gains or losses are realized as capital gains or losses, the agency said. However, when virtual currency is held as inventory or other property mainly for sale to customers in a trade or business, ordinary gains or losses are generally incurred, the IRS said. Story continues Capital gains and losses are taxable and deductible at different rates and amounts than ordinary gains and losses. Democratic Senator Tom Carper, who chaired a Senate committee hearing last year on bitcoin, said in a statement that the IRS guidance "provides clarity for taxpayers who want to ensure that they're doing the right thing and playing by the rules when utilizing bitcoin and other digital currencies." MINERS HURT New bitcoins come from a process called mining. Computer programmers around the world compete to crack an automatically generated code and the first to do so is rewarded with a small stash. This happens about every 10 minutes. Some online retailers will accept bitcoins as payment. The maximum potential number of bitcoins in circulation is 21 million, compared with around 12 million currently. On the IRS guidance, William Lewis, a lawyer in Sunnyvale, California, who represents a start-up company creating a platform for virtual currencies, said: "This is going to be unfavorable to bitcoin miners because they're going to have to include in income the fair market value of the virtual currency on the date they mined it. "It's going to make life difficult for a lot of people who have been mining over the past year, who have to go back and see what the values were on those dates when they mined it." (Additional reporting by Douwe Miedema; Editing by Steve Orlofsky) View comments |
1,395,792,690 | 2014-03-26 00:11:30+00:00 | {"Bitcoin": [551]} | {"Bitcoin": [0]} | Bitcoins are property, not currency, IRS says regarding taxes | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoins-property-not-currency-irs-001130070.html | Reuters | https://www.reuters.com/ | By Kevin Drawbaugh and Patrick Temple-West WASHINGTON (Reuters) - Wading into a murky tax question for the digital age, the U.S. Internal Revenue Service said on Tuesday that bitcoins and other virtual currencies are to be treated, for tax purposes, as property and not as currency. "General tax principles that apply to property transactions apply to transactions using virtual currency," the IRS said in a statement, meaning that bitcoins would be taxed as ordinary income or as assets subject to capital gains taxes, depending on the circumstance. Bitcoin, the best-known virtual currency, started circulating in 2009. Its present market value is around $8 billion, with up to 80,000 transactions occurring daily, according to accounting firm PricewaterhouseCoopers LLP. Recent incidents have brought the currency under new regulatory scrutiny, such as the failure of Mt. Gox, a Tokyo-based exchange that filed for bankruptcy after losing an estimated $650 million worth of customer bitcoins. Unlike conventional money, bitcoin is generated by computers and is independent of control or backing by any government or central bank, which its proponents like, but which also has led to calls for more guidance on U.S. tax treatment. The IRS supplied that in its statement, which dealt a blow to bitcoin "miners," who unlock new bitcoins online. The IRS said miners must include the fair market value of the virtual currency as gross income on the date of receipt. This change "is a disincentive to start looking for bitcoins," said John Barrie, a partner with law firm Bryan Cave LLP, who advises charities that receive bitcoins as donations. NOT LEGAL TENDER The IRS also said that virtual currency is not to be treated as legal-tender currency to determine if a transaction causes a foreign currency gain or loss under U.S. tax law. For other forms of gains or losses involving virtual currency, the IRS explained how to determine the U.S. dollar value of virtual currency and said taxable gains or losses can be incurred in related property transactions. Story continues "The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer," the IRS said. If a taxpayer holds virtual currency as capital - like stocks or bonds or other investment property - gains or losses are realized as capital gains or losses, the agency said. However, when virtual currency is held as inventory or other property mainly for sale to customers in a trade or business, ordinary gains or losses are generally incurred, the IRS said. Capital gains and losses are taxable and deductible at different rates and amounts than ordinary gains and losses. Democratic Senator Tom Carper, who chaired a Senate committee hearing last year on bitcoin, said in a statement that the IRS guidance "provides clarity for taxpayers who want to ensure that they're doing the right thing and playing by the rules when utilizing bitcoin and other digital currencies." MINERS HURT New bitcoins come from a process called mining. Computer programmers around the world compete to crack an automatically generated code and the first to do so is rewarded with a small stash. This happens about every 10 minutes. Some online retailers will accept bitcoins as payment. The maximum potential number of bitcoins in circulation is 21 million, compared with around 12 million currently. On the IRS guidance, William Lewis, a lawyer in Sunnyvale, California, who represents a start-up company creating a platform for virtual currencies, said: "This is going to be unfavorable to bitcoin miners because they're going to have to include in income the fair market value of the virtual currency on the date they mined it. "It's going to make life difficult for a lot of people who have been mining over the past year, who have to go back and see what the values were on those dates when they mined it." (Additional reporting by Douwe Miedema; Editing by Steve Orlofsky) |
1,395,838,800 | 2014-03-26 13:00:00+00:00 | {"Bitcoin": [50, 544, 570, 1704, 1855, 2549, 2629, 3311, 3331, 3572, 3678, 3769]} | {"Bitcoin": [0]} | Bitcoin Shop Announces Strategic Investment in Leading Digital Currency Payment Platform, GoCoin, LLC | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-shop-announces-strategic-investment-130000370.html | Marketwired | http://www.marketwired.com/ | SILVER SPRING, MD--(Marketwired - Mar 26, 2014) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) (the "Company"), the virtual currency ecommerce marketplace www.bitcoinshop.us , today announced a strategic investment in leading digital currency payment platform, GoCoin, LLC. The $1.5 million Series A equity financing was led by the Company, Chief Executive Officer Charles Allen, the Company's Chief Operating Officer and Chairman Michal Handerhan, former Facebook COO, Owen Van Natta, and Crypto Currency Partners amongst others. Charles Allen, CEO of Bitcoin Shop, commented, "Bitcoin Shop is an ecommerce platform that delivers a seamless digital currency shopping experience for its customers. Our investment in GoCoin's leading international payment processing platform is complementary to our business model. The partnership diversifies our risk profile through access to a greater number of retailers who accept digital currencies with GoCoin. Together, we are enabling customers the ability to use the growing number of virtual currencies when shopping on our site by leveraging GoCoin's enhanced payment platform. Once fully integrated, we will offer a best of breed, one-stop-shop user experience. We are excited to be leading this round of investment in GoCoin and their team." GoCoin is the only payment platform designed to be currency-agnostic, processing bitcoin, litecoin and dogecoin. GoCoin will use the proceeds for additional engineering resources and to ramp up its global sales force. The Series A financing includes over $500,000 of converting promissory notes from angel investors including Owen Van Natta (Facebook, Amazon), Andrew Frame (Ooma), David Neuman (Current TV, CNN), and more. Bitcoin Shop will be leveraging GoCoin exclusively for its payment processing solution to offer shoppers the option to pay using bitcoin and litecoin. Bitcoin Shop offers litecoin holders the largest selection of products worldwide where shoppers can pay using litecoin. Story continues "User demand continues to grow for alternative payments," said Owen Van Natta. "I'm excited to deepen my involvement with GoCoin and their best-in-class payments solution for merchants and game publishers." "We've had an international multi-currency focus since day one, and this investment will help extend our global footprint and take our services to the next level," said Steve Beauregard, founder and CEO of GoCoin. As part of the agreement and to further increase the benefits to the Company, Charles Allen and Michal Handerhan irrevocably assigned to Bitcoin Shop their respective participation rights in the next financing round. Bitcoin Shop is therefore entitled to its participation right in addition to Charles' and Michal's participation rights in GoCoin's next financing round. About GoCoin, LLC GoCoin, LLC is the first international payment platform for digital currencies, making it easier than ever for online and retail merchants to accept bitcoin, litecoin and dogecoin payments. GoCoin enables merchants to reap the benefits of accepting digital currency without taking on the perceived risk. Founded in July 2013, GoCoin is an international group of companies with a presence in Asia Pacific, the Americas, the Caribbean and Europe. For more information, please visit http://www.gocoin.com . About Bitcoin Shop, Inc.: Bitcoin Shop, Inc. operates an ecommerce website ( www.bitcoinshop.us ) where consumers can purchase products using virtual currency such as bitcoin and litecoin, by searching through selection of over 400 categories and over 140,000 items. Bitcoin is a digital or virtual currency that uses a peer-to-peer network to facilitate instant payments. Bitcoin is categorized as a cryptocurrency, as it uses cryptography as a security measure. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allow users to make verified transfers. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its bitcoin business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. |
1,395,838,800 | 2014-03-26 13:00:00+00:00 | {"Bitcoin": [50, 544, 570, 1704, 1855, 2549, 2629, 3311, 3331, 3572, 3678, 3769]} | {"Bitcoin": [0]} | Bitcoin Shop Announces Strategic Investment in Leading Digital Currency Payment Platform, GoCoin, LLC | https://finance.yahoo.com/news/bitcoin-shop-announces-strategic-investment-130000370.html | Marketwired | http://www.marketwired.com/ | SILVER SPRING, MD--(Marketwired - Mar 26, 2014) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) (the "Company"), the virtual currency ecommerce marketplace www.bitcoinshop.us , today announced a strategic investment in leading digital currency payment platform, GoCoin, LLC. The $1.5 million Series A equity financing was led by the Company, Chief Executive Officer Charles Allen, the Company's Chief Operating Officer and Chairman Michal Handerhan, former Facebook COO, Owen Van Natta, and Crypto Currency Partners amongst others. Charles Allen, CEO of Bitcoin Shop, commented, "Bitcoin Shop is an ecommerce platform that delivers a seamless digital currency shopping experience for its customers. Our investment in GoCoin's leading international payment processing platform is complementary to our business model. The partnership diversifies our risk profile through access to a greater number of retailers who accept digital currencies with GoCoin. Together, we are enabling customers the ability to use the growing number of virtual currencies when shopping on our site by leveraging GoCoin's enhanced payment platform. Once fully integrated, we will offer a best of breed, one-stop-shop user experience. We are excited to be leading this round of investment in GoCoin and their team." GoCoin is the only payment platform designed to be currency-agnostic, processing bitcoin, litecoin and dogecoin. GoCoin will use the proceeds for additional engineering resources and to ramp up its global sales force. The Series A financing includes over $500,000 of converting promissory notes from angel investors including Owen Van Natta (Facebook, Amazon), Andrew Frame (Ooma), David Neuman (Current TV, CNN), and more. Bitcoin Shop will be leveraging GoCoin exclusively for its payment processing solution to offer shoppers the option to pay using bitcoin and litecoin. Bitcoin Shop offers litecoin holders the largest selection of products worldwide where shoppers can pay using litecoin. Story continues "User demand continues to grow for alternative payments," said Owen Van Natta. "I'm excited to deepen my involvement with GoCoin and their best-in-class payments solution for merchants and game publishers." "We've had an international multi-currency focus since day one, and this investment will help extend our global footprint and take our services to the next level," said Steve Beauregard, founder and CEO of GoCoin. As part of the agreement and to further increase the benefits to the Company, Charles Allen and Michal Handerhan irrevocably assigned to Bitcoin Shop their respective participation rights in the next financing round. Bitcoin Shop is therefore entitled to its participation right in addition to Charles' and Michal's participation rights in GoCoin's next financing round. About GoCoin, LLC GoCoin, LLC is the first international payment platform for digital currencies, making it easier than ever for online and retail merchants to accept bitcoin, litecoin and dogecoin payments. GoCoin enables merchants to reap the benefits of accepting digital currency without taking on the perceived risk. Founded in July 2013, GoCoin is an international group of companies with a presence in Asia Pacific, the Americas, the Caribbean and Europe. For more information, please visit http://www.gocoin.com . About Bitcoin Shop, Inc.: Bitcoin Shop, Inc. operates an ecommerce website ( www.bitcoinshop.us ) where consumers can purchase products using virtual currency such as bitcoin and litecoin, by searching through selection of over 400 categories and over 140,000 items. Bitcoin is a digital or virtual currency that uses a peer-to-peer network to facilitate instant payments. Bitcoin is categorized as a cryptocurrency, as it uses cryptography as a security measure. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allow users to make verified transfers. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its bitcoin business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. |
1,395,839,400 | 2014-03-26 13:10:00+00:00 | {"Bitcoin": [194, 444, 1768, 2306, 2699, 2719, 2961, 3065, 3156, 4267]} | {} | GoCoin Closes $1.5 Million Series A Funding for Digital Currency Payment Processing | https://finance.yahoo.com/news/finance.yahoo.com/news/gocoin-closes-1-5-million-131000975.html | Marketwired | http://www.marketwired.com/ | SINGAPORE--(Marketwired - Mar 26, 2014) - GoCoin , the first international payment platform for digital currencies, today announced it has closed a $1.5 million Series A equity financing led by Bitcoin Shop, Inc. ( OTCQB : BTCS ) and former Facebook COO, Owen Van Natta. Crypto Currency Partners also participated in the round. "Our investment in GoCoin reflects our confidence in their product and their team," commented Charles Allen, CEO of Bitcoin Shop. "Not only does it complement our business model, but we felt it was a great opportunity to align with a partner whose business is designed to adapt to rapidly evolving trends in the digital currency marketplace." GoCoin is the only significant payment platform designed to be currency-agnostic. The startup will use the latest round for additional engineering resources and to ramp up its global sales force. The Series A financing includes over $500,000 under converting promissory notes from angel investors including Owen Van Natta (Facebook, Amazon), Andrew Frame (Ooma), David Neuman (Current TV, CNN), and more. "User demand continues to grow for alternative payments," said Owen Van Natta. "I'm excited to deepen my involvement with GoCoin and their best-in-class payments solution for merchants and game publishers." "We've had an international multi-currency focus since day one, and this round will help extend our global footprint and take our services to the next level," said Steve Beauregard, founder and CEO of GoCoin. Since its inception in July 2013, GoCoin has achieved a number of milestones, such as: Becoming the first payment platform to incorporate the alternative currency market with support for litecoin and dogecoin Key customer wins including Perseus Telecom, Robocoin, Agreed.com, Bitcoin Shop, Inc., QikFunder and KnCminer Expanding into a 7,000 square foot office space in the historic Keller Block building on Santa Monica's 3rd Street Promenade About GoCoin GoCoin is an international digital currency payments platform enabling merchants to accept bitcoin, litecoin, dogecoin and other digital currencies with key benefits such as eliminating high fees, costly chargebacks and inherent credit card payment friction. Our service replaces the need for the likes of PayPal or Authorize.net instead customers pay with Bitcoin opening up the global market of shoppers and gamers to participate for the first time in eCommerce, Internet gaming, Internet entertainment and charitable giving. Founded in July 2013, GoCoin is an international group of companies with a presence in Asia Pacific, the Americas, the Caribbean and Europe. For more information, please visit http://www.gocoin.com . Story continues About Bitcoin Shop, Inc.: Bitcoin Shop, Inc. operates an ecommerce website ( www.bitcoinshop.us ) where consumers can purchase products using virtual currency such as bitcoin or litecoin, by searching through a selection of over 400 categories and over 140,000 items. Bitcoin is a digital or virtual currency that uses peer-to-peer network to facilitate instant payments. Bitcoin is categorized as a cryptocurrency, as it uses cryptography as a security measure. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make verified transfers. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its Bitcoin business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. |
1,395,842,400 | 2014-03-26 14:00:00+00:00 | {"Bitcoin": [4765]} | {} | 5 Tax Mistakes that Startups Make | https://finance.yahoo.com/news/5-tax-mistakes-startups-145500080.html | Entrepreneur | http://www.entrepreneur.com/ | Before jumping into specific mistakes that start-ups should steer clear of, lets tackle the most common oversight: Proper record keeping. One of the most important things is for a business to have its own set of books, says Sam Kreamer, a tax lawyer and licensed CPA at Kreamer Law Firm. If the entrepreneur is not a talented bookkeeperthey should hire one. Dont want to hire a permanent person? Then think about consulting an accountant or seeking out a mentor through SCORE or another small business non-profit to help you create an organized system, whether its pen and paper or Quickbooks. Then set up separate accounts for anticipated taxes like self-employment and employee withholding. The biggest problem for many business owners is having cash on hand to pay their taxes, says Barbara Weltman, of Big Ideas for Small Business and author of J.K. Lassers Small Business Taxes 2014 (Wiley, 2013) . So when money comes in, it should be segregated for taxes. Now that the big tripwire is out of the way, lets look at some smaller dos and donts for managing your new companys taxes. Dont overlook start-up costs. As you probably know, getting an idea off the ground isnt cheap. The good news? Almost any action you take to get started, including advertising, market research or travel to meet with potential customers, is eligible for a deduction. Start-up costs up to $5,000 are deductible in full in the first year, Weltman says. If your costs go over $5,000, then you can look into rolling out the deduction for up to 15 years depending on how high they are. Do track expenses right. For travel and entertainment costs over $75, you need not only the receipts and written proof of cost, you need to have a record of the reason, Weltman explains. And while the IRS doesnt require receipts for expenses under $75, it might be smart to hold on to them just as a good way to jog your memory of where you were or with whom. If you use your personal credit card for business purposes, make sure to file a timely expense report to be reimbursed by the company. If you drive a lot for work, be sure to keep proper logs. It could be on an app that tracks your miles, Weltman advises. Just be sure that youre legitimately driving for business like going to the bank to make a deposit or meeting a client. Commuting cant be deducted. If you do get audited, proper documentation is going to be your greatest asset. Story continues Dont treat equipment and supplies the same . Parsing out the difference between equipment and supplies is important in terms of taking deductions on each. Supplies are the small things you use in your office each day, like pens or post-it notes. Equipment is the big-ticket items from computers to storage facilities. Supplies are dollar for dollar expense while equipment is required to be capsulized and encapsulated over a period of years, says Philip R Reck, a CPA with RSB Associates and a SCORE mentor. And be aware, the rules are changing. In 2013, you could elect to deduct up to $500,000 of equipment purchases, but Congress has allowed that to expire next year and the limitation drops to $25,000. Dont misclassify employees : In an effort to duck paying payroll taxes, many start-ups misclassify their employees as independent contractors. Thats a very focused area for the IRS, Reck says. So whats the difference between an employee and an independent contractor? Generally the biggest factor is: How much control do you have over their time? Once youre telling someone where to be and at what time and they arent working for anyone elsethen its an employee. If the IRS finds you guilty of misclassification, youll face a tidal wave of penalties and back payments of payroll taxes. Its enough to drive some small businesses out of business. Plus, you might have to pay out of your own pocketeven if youve filed for bankruptcy. Those are called trust fund taxes, the owners of the company can be personally liable for those, Kreamer explains. Do take a home office deduction if you work from home: Fear of what constitutes a home office can scare away some entrepreneurs from taking this deduction. If you have a space for business exclusivelya kitchen table isnt an officebut if you use a corner of your bedroom that would be fine, Weltman says. A home office deduction was once viewed as an audit trigger, but with the rise of home-based businesses (the Small Business Administration recently reported that 52 percent of small businesses are home-based), the IRS has seemed to back off and has set up a standard deduction. More From Entrepreneur 10 Up and Coming Leaders to Watch All Business Entities Are Not Created Equal: Finding the Perfect One for You IRS Will Tax Bitcoin, Says It's Not Currency |
1,395,845,619 | 2014-03-26 14:53:39+00:00 | {"Bitcoin": [225, 360, 403, 487, 1120, 1304, 1341, 2006]} | {"Bitcoin": [7]} | Kraken Bitcoin Exchange Raises $5 Million | https://finance.yahoo.com/news/kraken-bitcoin-exchange-raises-5-145339064.html | Marketwired | http://www.marketwired.com/ | SAN FRANCISCO, CA--(Marketwired - Mar 26, 2014) - Payward, Inc. today announced the completion of a $5 million Series A round of funding for its Kraken ( https://www.kraken.com ) division, the innovative digital exchange for Bitcoin, Ripple, Litecoin, Namecoin, Dogecoin, Ven and other digital currencies. Other investors included SecondMarket Barry Silbert's Bitcoin Opportunity Fund, and Trace Mayer, Bitcoin thought leader and angel investor. At Kraken, foreign exchange markets meet Bitcoin on a secure, regulated platform where customers can trade digital currencies, and enjoy fast deposits and withdrawals enabled by a strategic partnership with German online bank Fidor AG. "We're excited to get significant funding to grow the Kraken team, improve upon support and deal with the evolving regulatory hurdles globally," said Jesse Powell, founder and CEO of Kraken. "We're looking forward to forging strong bank partnerships in the US and elsewhere in the world, as we have in the EU, to further reduce friction for our growing international client base." With the rapid pace of financial innovation unleashed by Bitcoin, the United States is in dire need of a domestic digital currency exchange to be on an even playing field with the rest of the world. Although the United States is the largest Bitcoin market, the vast majority of Bitcoin liquidity is held elsewhere. Kraken aims to change that. For more information about the digital exchange services offered by Kraken, please visit https://www.kraken.com . About Payward, Inc. Payward combines years of experience in the virtual goods and currency markets with a highly skilled engineering team and a host of carefully cultivated banking and finance relationships. Kraken ( https://www.kraken.com ), Payward's full-featured professional digital currency exchange and trading platform, offers advanced trading tools, a sophisticated user interface, robust technical security and full regulatory compliance to traders in digital currencies like Bitcoin, Ripple, Litecoin, Namecoin, Dogecoin, and Ven. Kraken publicly launched on Sept. 9, 2013, and is now the No. 1 Euro exchange in the world. Kraken attributes this success to its robust user interface, strict regulatory compliance and professional array of advanced order types, the result of two years of development. To find out more about services offered by Kraken, visit: https://www.kraken.com . View comments |
1,395,852,593 | 2014-03-26 16:49:53+00:00 | {"Bitcoin": [65, 358, 667, 728, 788, 893, 1081, 1259, 1464, 1523, 1880, 2955, 2997, 3090, 3121, 3234, 3284, 3406, 3479]} | {"Bitcoin": [4]} | Why Bitcoin Can No Longer Work as a Virtual Currency, in 1 Paragraph | https://finance.yahoo.com/news/finance.yahoo.com/news/why-bitcoin-no-longer-virtual-164953675.html | The Atlantic | http://www.theatlantic.com/ | On Tuesday, the Internal Revenue Service ruled that it would tax Bitcoin as a property, not a currency . Some see the move as helping to bring the medium into the mainstream. Now that bitcoins can be taxed, they’re reportable, and the legal ramifications of buying and selling a coin are clear. The IRS’s decision, though, may end one of the great dreams of Bitcoin. The U.S. government will now subject owners of individual bitcoins to capital gains taxes: What they gain on buying or selling a bitcoin, they must pay taxes on. That’s a big deal, perhaps bigger than it seems, because—as a new blog post by Georgetown Law professor Adam J. Levitin explains—it means Bitcoin can no longer function as a digital currency. To tax Bitcoin as property, he says, destroys its fungibility: One Bitcoin can no longer be exchanged for another. This was one of the original intents behind the service. Bitcoin aimed to function as a kind of digital money, meaning it had to work as a unit of account, a medium of exchange, and a store of value. In reverse, that means: As a store of value, Bitcoin’s price had to be predictably stable, such that you could neglect to spend a single bitcoin and know its value would not fluctuate wildly. In late 2013, many argued that Bitcoin’s quickly rising price kept it from functioning as a dependable store of value, but there were no technical or regulatory reasons it couldn’t function as such eventually. As a medium of exchange , Bitcoin must be commonly desired. People must want to have Bitcoin; others must want to spend it. (Thus, it avoids the ‘coincidence of wants’ problem—in order to trade, both people don’t need to want something the other person has. Instead of trading rent for food, for example, you can rent living space from a landlord with money, and your landlord can use that money to buy food.) Finally, as a unit of account , Bitcoin had to have a standard numerical value to be used to measure profits and settle debts. It had to be divisible (which it was , since smaller units of bitcoin could be traded ); it had to be verifiable (which it was—this formed the basis of its cryptosecurity), and finally, it had to be fungible, meaning that every bitcoin was the same as every other bitcoin. Story continues And that’s where it gets interesting. Something like a $10 bill, for example, is fungible. The $10 bill you got from an ATM is the same as the $10 bill you got back as change at the ice cream parlor is the same as the $10 bill you (on a very lucky day) find on the street. It does not matter which $10 bill you spend. So $10 bills, in other words, are interchangeable. This is why we don’t use horses, bananas, or hand-painted ceramic ashtrays as currency. (The hand-painted ceramic ashtray you got from an ATM is unlikely to be of the same quality as the one you found on the street. This is also why art doesn’t make a good currency.) “ So,” asks Levitin , “what does this have to do with Bitcoin?” The price at which a particular Bitcoin was acquired (and this is traceable) determines the capital gains on that particular Bitcoin when spent. If I spend Bitcoin A, which I bought at $10, but is now worth $400, I’ve got a very different tax treatment than if I spend Bitcoin B, which I bought at $390. […] This means Bitcoins are not fungible, and that makes it unworkable as a currency. And then: If I have to figure out which particular Bitcoin in my wallet I want to spend and what the tax treatment will be, Bitcoin just doesn't work as a commercial medium of exchange. It still works as a speculative medium, Levitin writes . But one bitcoin, per Levitin, no longer equals one bitcoin no longer equals one bitcoin. Every bitcoin you own is a little different. More From The Atlantic Why Don't the 1 Percent Feel Rich? The Little Kiosks That Could This Tax Season: Total Chaos for Same-Sex Couples |
1,395,918,600 | 2014-03-27 11:10:00+00:00 | {"Bitcoin": [2177]} | {} | 10 Things You Need To Know This Morning | https://finance.yahoo.com/news/10-things-know-opening-bell-111027646.html | Business Insider | http://www.businessinsider.com/ | giant man REUTERS/Minzayar German shoemaker Georg Wessels helps Win Zaw Oo, who according to his medical team, at 2.3 metres (7.5 ft), is Myanmar's tallest man, in Yangon March 26, 2014. Good morning! Here's what you need to know. Citi fails stress test. The Federal Reserve rejected Citigroup's capital plan, citing " deficiencies included Citigroup’s ability to project revenue and losses under a stressful scenario for material parts of the firm’s global operations." Shares are down 5% pre-market. Births and deaths. The U.S. simultaneously recorded the fewest births since 1998 and most deaths in its history last year. " Americans remain cautious about having babies following the worst recession since the Great Depression, although they are increasingly changing residences again, suggesting growing confidence in the economic recovery," Bloomberg's John McCormick wrote. BofA settles. Bank of America will pay $9.5 billion to settle mortgage claims with Fannie Mae, Freddie Mac and their federal regulator. Former CEO Ken Lewis was also banned for three years from working for any public company. Ukraine bailout. The International Monetary Fund said it had agreed on a $14-18 billion stand-by agreement with Ukraine, a deal that will unlock further credits to reach a total of $27 billion over the next two years. Charlotte Mayor booked. The mayor of North Carolina's largest city resigned Wednesday after prosecutors said he had been arrested on federal public corruption charges that include accepting more than $48,000 in bribes from undercover FBI agents. Booming UK retail sales. British consumers crushed expectations in February, lifting retail sales 1.7% month-over-month versus a consensus forecast of 0.5%. The pound was 0.25% higher against the dollar. M eanwhile, French shoppers followed up their Italian counterparts by lifting consumer confidence readings to a two-year high. The INSEE index climbed to 88 from 85, beating expectations for a reading of 85. Story continues Markets. Stocks were mostly up. France's CAC40 and Germany's Deutsche Boerse were higher, while the UK FTSE was down. Japan's Nikkei was up 1%. U.S. futures were higher. Gold and Bitcoin were both lower. Data. Thursday will be a busy day for data. As usual it kicks off with initial jobless claims at 8:30. They're expected to come in at 323,000 from 320,000 last week. Later, a t 10 a.m. we get pending home sales, which are expected to be up a tick to 0.2%. GDP. Also at 8:30 we get a Q4 GDP reading, which is expected to hit 2.7%, up from a prior estimate of 2.4%. Core personal consumption expenditures were forecast at 1.3%, unchanged from the prior reading. Morgan Stanley on biotech. Some have been speaking of a bubble in the sector, but Morgan Stanley's Morgan Stanley's Matthew Harrison and Dr. David Friedman believe there remains opportunity in this space. "Major de-risking events leading to new mega blockbusters have transformed the Big 4 Biotechs (Amgen, Biogen, Celgene and Gilead)," they wrote in a new 24-page note to clients. "We expect total group revenues to double from $175B over the last 5 years to $335B over the next 5 years and total cash flows to triple from $31B to $95B. Investors have rewarded the group with a return ~2.3x the S&P 500 over last 3 years." More From Business Insider Everything You Wanted To Know About All Of The Crazy Stuff Going On In China But Were Afraid To Ask 10 Things You Need To Know This Morning The Most Exciting Trades Out There Right Now |
1,395,923,070 | 2014-03-27 12:24:30+00:00 | {"Bitcoin": [150, 252, 469, 744, 1424, 1753, 2001]} | {"Bitcoin": [34]} | Jumio Partners With Eight Leading Bitcoin Providers to Form Identity Security Network | https://finance.yahoo.com/news/jumio-partners-eight-leading-bitcoin-122430252.html | Marketwired | http://www.marketwired.com/ | PALO ALTO, CA--(Marketwired - Mar 27, 2014) - Jumio, Inc., the fast growing credentials management tech company, today announced the formation of the Bitcoin Identity Security Open Network (BISON). Initial members of the network comprise eight leading Bitcoin exchanges, wallets and ATM providers worldwide including BitAccess, SnapSwap, CoinMkt, Digital Currency Exchange of Texas, CoinRnr, Hashop.io, NoveltyLab and Bitnet Technologies as the initial members. As the Bitcoin industry matures, industry participants see value in proactively self-regulating, and adopting best practices rather than have standards be imposed by outside entities. One such initiative, the BISON Network is designed to instill greater trust and confidence in the Bitcoin ecosystem by providing exchanges an efficient way to collect and validate buyer identities at the point of transaction via any connected device. Transacting customers hold up their driver license or passport issued by over 100 countries to their device camera and Jumio's integrated technology Netverify scans and validates the ID, extracts the personal info it contains and populates it into the transaction form. The entire process takes place in-real time and contributes to higher completion rates due to its speed and improved user experience. The buyer's identity is used solely in the relationship with the exchange or wallet and does not change any aspects of the Bitcoin transaction flow. This summer additional functionality will roll out which enables an opted-in, validated customer on one exchange to be automatically validated on another without rescanning their ID. BISON members also receive periodic reviews of fraud trends within the network. "We believe that crypto-currencies, and Bitcoin chiefly among them, are an important new part of the payments world, however, to reach their full potential it's time to instill a higher degree of confidence in the system," said Daniel Mattes, Jumio founder and CEO. "The vast majority of Bitcoin users are honest and engaging in a range of legal transactions, but a small minority are not and that threatens the entire ecosystem, especially during this formative period. BISON is designed to minimize the problem by weeding out those who use false or manipulated IDs, which is a strong indicator of intended fraud or other illegal activity." Story continues "Since our inception, we've placed a great emphasis on KYC processes and other regulations," said Moe Adham, co-founder, BitAccess. "That's why we chose to work with Jumio in the first place and it's a natural extension for BitAccess to help develop this initiative." About Jumio: Jumio is a next-generation payments and ID software-as-a-service company that utilizes proprietary computer vision technology to reduce mobile/online payment and ID friction and fraud, while increasing revenue and customer satisfaction. The company's mission is to provide its clients with intuitive, consumer-facing technologies that make it possible to conduct a wide range of mobile transactions without a single keystroke. Half of the top 10 consumer internet companies, along with hundreds of other retailers, financial institutions, marketplaces, gaming companies and more have adopted Jumio products to enable their customers to efficiently speed through sign-up and checkout processes yielding not only higher completion rates but an improved customer experience. Jumio has received numerous innovation awards from leading industry associations and is listed on The Sharepost 100 as one of the world's most innovative and compelling private companies. Jumio was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Headquartered in Palo Alto, Jumio operates globally with offices in the US and Europe and processes credentials issued by over 100 countries. For more information, visit http://www.jumio.com/ |
1,395,929,441 | 2014-03-27 14:10:41+00:00 | {"Bitcoin": [48, 127, 286, 493, 623, 828, 2058, 2518, 2592, 2689, 3113, 3129, 3165, 3268, 3667, 3724]} | {"Bitcoin": [0]} | Bitcoin Meets Global Finance and Commerce at Bitfin 2014, Dublin | https://finance.yahoo.com/news/bitcoin-meets-global-finance-commerce-141041551.html | Marketwired | http://www.marketwired.com/ | DUBLIN, IRELAND--(Marketwired - Mar 27, 2014) - Bitcoin Ireland, WhitePeak and Triple Zero Media will be holding the inaugural Bitcoin Finance Conference and Expo (Bitfin 2014) in Dublin on July 3 rd and 4 th at the Royal Dublin Society, with social events planned throughout the city. Bitcoin is making headlines every day. A secure peer-to-peer currency that reduces transaction costs is an attractive prospect for anyone who uses money, but what happens when digital money goes mainstream? Bitcoin Finance 2014 gathers international financial, technical, regulatory, political and economic experts to draw a roadmap for Bitcoin's future. This two-day event will focus on payments, peer-to-peer digital currencies, and how digital money will shape the future of finance, corporate strategy, and public and economic policies. "Bitcoin is moving from experiment to legitimate currency and payment system, but that's just the first act. It's also a protocol that can transform the way people and corporations track information and assets," said Fergal Murray, founder of Bitfin. "There are big questions to consider. How will financial institutions adapt to a technology that threatens their dominance? What happens if inflationary and deflationary currencies collide at scale? What does it mean for law enforcement, national security and civil liberties? How can we strike a balance between openness and regulation?" Speakers will address the issues surrounding decentralized currencies, including opportunities and risks for financial institutions, corporations and citizens. Confirmed speakers include: Jeremy Allaire, CEO, Circle Nicolas Cary, CEO, Blockchain.info Colm Lyon, CEO Realex Sam Cole, co-founder, KnC Miner Brett Meyers, CEO, CurrencyFair Rainey Reitman, activism director, Electronic Frontier Foundation Damian Crowe, CEO, Obillex David Johnston, managing director, BitAngels Fund 1 Christina Gorlick, CAO, CloudHashing Additional speakers will be announced in coming weeks. Story continues Schedule Day 1 will bring attendees up to speed on Bitcoin and other digital currencies, and the sessions will end with participatory round-table discussions chaired by industry experts. Day 2 will feature tracks with deep dives into specific topic of interest to banks, financial institutions, payment processors, brands, retail, mobile, media, and legal and regulatory institutions. Bitfin 2014 also will feature a free public expo that will allow everyone to get a first-hand look at the future of payments, Bitcoin and digital money from exhibiting companies, including the latest Bitcoin technology, wallets, mining hardware and related services. Sponsors Gold sponsors of the Bitcoin Finance Conference and Expo 2014 are Realex Payments ( www.realexpayments.com ) and Circle Internet Financial ( www.circle.com ). Registration Early bird conference registration opens today, with one-day registration available for EUR 199 and two-day registrations for EUR 399. The Bitfin Expo is free. To get more information or register, visit the Bitfin 2014 website, http://www.bitfin.com . About the Organizers Bitcoin Ireland Bitcoin Ireland is the voice of the Bitcoin community in Ireland. Membership is open to anyone with a professional or personal interest in Bitcoin or related technologies. Membership is free and everyone is welcome. http://www.bitcoinireland.org . WhitePeak Media WhitePeak was founded in 2007 in Dublin. WhitePeak helps technology and financial services companies develop innovative new products and reach new markets. http://www.whitepeakgroup.com . Triple Zero Media Triple Zero Media has organized some of the world's most successful Bitcoin conferences, including the recent North American Bitcoin Conference in Miami ( www.btcmiami.com ), which drew over 1,200 attendees in January 2014. http://www.triplezeromedia.com |
1,395,943,560 | 2014-03-27 18:06:00+00:00 | {"Bitcoin": [3490]} | {} | Valuation Expert Damodaran Thinks Tesla Is Worth Nearly Half Its Current Price | https://finance.yahoo.com/news/finance.yahoo.com/news/valuation-expert-damodaran-thinks-tesla-180638407.html | Business Insider | http://www.businessinsider.com/ | damodaran Screenshot via Bloomberg TV Late last year, NYU finance professor Aswath Damodaran valued Tesla at $67 . The stock was trading at about $170 then. Now, Damodaran has revisited the stock in a new blog post, and is valuing it between $110 - $115. The stock is currently trading at $220, and is down from its all-time intra-day high of $265. Here's a look at Damodaran's assumptions: He forecasts revenue of $79.21 billion ten years from now . This is up from his previous forecast of $65.42 billion. Damodaran looks at the latest earnings and points out that "Tesla continues on its path to higher revenues," and sees "added revenues from the electric battery business to auto revenues." "Entering the electric battery market is likely to lead to lower margins, not increase them," and Damodaran has lowered his expected operating margin to 12.0% in year 10, from 12.5%. Higher revenues will lead to higher operating income of $9.50 billion , up from his previous assumption of $8.18 billion. In terms of investment requirements, he expects Tesla will have to invest $1 in capital for every additional $1.55 in revenues . This is up from $1 in capital for $1.41 in revenues in his prior model. Now that Tesla has increased access to capital through its $2 billion bond offering, it has lower losses and it has larger market cap, he thinks the probability of failure is 0%. "This should allow the company to survive even major shocks." Damodaran says investors should consider three things when looking at Tesla. The first is the discounted cash flow (DCF) . When it comes to this it's important to remember that Tesla will have to "make substantial infrastructure investments over the next decade, to deliver its growth potential." He also looks at buzzwords surrounding the automaker. Tesla has the trifecta: China, batteries, and disruptive. The company has announced that it is expanding into China, and building a Gigafactory to produce electric batteries. But for the $220 value, you need the battery business to add "about $90 billion to Tesla's annual revenues by the tenth year." It's also important to remember that other companies, like Honda, are also "in this disruption game." Story continues Finally, and this is the stuff from Damodaran we watch closely, he talks about ' keeping the faith'. "My investment philosophy is built on the foundation that you should buy an asset only if it trades at a price less than your estimated value for that asset, error-prone and uncertain though the latter may be," Damodaran writes. "It is true that I can offer no proof that my value is right, that the price is wrong or even if the first two assertions are true (right value, wrong price), that the price will adjust to the value, but is that not the essence of faith? That you believe, without proof! If I stay true to my philosophy, I cannot justify buying Tesla at the current price. Of course, a year from now, the stock may be at $400, but I will have no regrets, because I also believe that if you don't stand for something, you will fall for anything." Note: Damodaran is not short Tesla and he does not plan to short the stock. And he doesn't believe his valuation is the 'right' valuation. You can see Damodaran's valuation spreadsheet here » More From Business Insider This Ridiculous One-Paragraph Essay By A UNC Athlete Got An A-Minus 8 Things You Never Knew Your iPhone's Headphones Could Do Here's The Real Reason Warren Buffett Doesn't Invest In Technology — Or Bitcoin |
1,395,943,560 | 2014-03-27 18:06:00+00:00 | {"Bitcoin": [3490]} | {} | Valuation Expert Damodaran Thinks Tesla Is Worth Nearly Half Its Current Price | https://finance.yahoo.com/news/valuation-expert-damodaran-thinks-tesla-180638407.html | Business Insider | http://www.businessinsider.com/ | damodaran Screenshot via Bloomberg TV Late last year, NYU finance professor Aswath Damodaran valued Tesla at $67 . The stock was trading at about $170 then. Now, Damodaran has revisited the stock in a new blog post, and is valuing it between $110 - $115. The stock is currently trading at $220, and is down from its all-time intra-day high of $265. Here's a look at Damodaran's assumptions: He forecasts revenue of $79.21 billion ten years from now . This is up from his previous forecast of $65.42 billion. Damodaran looks at the latest earnings and points out that "Tesla continues on its path to higher revenues," and sees "added revenues from the electric battery business to auto revenues." "Entering the electric battery market is likely to lead to lower margins, not increase them," and Damodaran has lowered his expected operating margin to 12.0% in year 10, from 12.5%. Higher revenues will lead to higher operating income of $9.50 billion , up from his previous assumption of $8.18 billion. In terms of investment requirements, he expects Tesla will have to invest $1 in capital for every additional $1.55 in revenues . This is up from $1 in capital for $1.41 in revenues in his prior model. Now that Tesla has increased access to capital through its $2 billion bond offering, it has lower losses and it has larger market cap, he thinks the probability of failure is 0%. "This should allow the company to survive even major shocks." Damodaran says investors should consider three things when looking at Tesla. The first is the discounted cash flow (DCF) . When it comes to this it's important to remember that Tesla will have to "make substantial infrastructure investments over the next decade, to deliver its growth potential." He also looks at buzzwords surrounding the automaker. Tesla has the trifecta: China, batteries, and disruptive. The company has announced that it is expanding into China, and building a Gigafactory to produce electric batteries. But for the $220 value, you need the battery business to add "about $90 billion to Tesla's annual revenues by the tenth year." It's also important to remember that other companies, like Honda, are also "in this disruption game." Story continues Finally, and this is the stuff from Damodaran we watch closely, he talks about ' keeping the faith'. "My investment philosophy is built on the foundation that you should buy an asset only if it trades at a price less than your estimated value for that asset, error-prone and uncertain though the latter may be," Damodaran writes. "It is true that I can offer no proof that my value is right, that the price is wrong or even if the first two assertions are true (right value, wrong price), that the price will adjust to the value, but is that not the essence of faith? That you believe, without proof! If I stay true to my philosophy, I cannot justify buying Tesla at the current price. Of course, a year from now, the stock may be at $400, but I will have no regrets, because I also believe that if you don't stand for something, you will fall for anything." Note: Damodaran is not short Tesla and he does not plan to short the stock. And he doesn't believe his valuation is the 'right' valuation. You can see Damodaran's valuation spreadsheet here » More From Business Insider This Ridiculous One-Paragraph Essay By A UNC Athlete Got An A-Minus 8 Things You Never Knew Your iPhone's Headphones Could Do Here's The Real Reason Warren Buffett Doesn't Invest In Technology Or Bitcoin |
1,396,239,900 | 2014-03-31 04:25:00+00:00 | {"Bitcoin": [19], "BTC": [2873]} | {"Bitcoin": [0]} | Bitcoin Alternative Devcoin Enjoys Massive Community Growth Launching Custom Coded Forum | https://finance.yahoo.com/news/bitcoin-alternative-devcoin-enjoys-massive-042500567.html | ACCESSWIRE | https://www.accesswire.com/ | Devcoin - the only Bitcoin alternative which sponsors open source work worldwide - has experienced huge growth in the size of the community, having launched DVC's very own custom coded Devcoin forum. March 31st, 2014 / The development of a custom coded Devcoin forum and rapid growth in the community of Devcoiners mark Devcoin maturing to its next phase of adoption, and solidifying its already firm position as a cryptocurrency that is built to last. Devcoin sets itself apart from many other alternative cryptocurrencies with its unique world changing mission: to make the world a better place by rewarding open source development in every field, especially technology, but also including marketing and art . Devcoin is also unique in that the bulk of its block generation reward does not go to miners but to people worldwide involved in open source work. The Devtome projects stable of writers has seen massive growth in the past few weeks as word is getting out that writers can get paid for their creative work much faster than through many traditional publication routes. The writers joining the community are successful business owners, established writers and bloggers, and even high school and college students. These new writers are eager to contribute to Devcoins growth and development while reaping the rewards that come from publishing their open source content on Devtome. The quality of writing has also seen big improvements as many of the writers who joined earlier have become article administrators and have made it their mission to weed out poor quality work while helping competent writers to further improve their work. The increase in the number of writers forming the Devtome community, along with the higher standards for content, has added some healthy competition for the shares making up the monthly 180 million Devcoin generation reward. This pool is divided up among an ever increasing pool of writers. The anticipation of higher future value means more writers are choosing to hang onto, rather than immediately sell, their earnings. For those who do want to sell, there are investors who believe they are buying at a bargain. When investors buy and hold Devcoins they are supporting the overall goals of the Devcoin project which include plans to sponsor the development of an open source spaceship. Story continues The Devcoin community now has a new home in Coinzen, a forum custom designed for Devcoin but with potential to also become a home for other alt coin communities . Coinzen has a few custom coded features which give forum posters greater control over their threads, such as the ability to moderate threads they started and add other users to their buddy lists. In a world where a new alt coin is announced every day and where the majority will fail, Devcoin is one of the few which has stood the test of time. With the DVC/BTC market on Cryptsy launching last month, the massive growth of the Devtome writer community, the creation of the Coinzen forum, and its ongoing unique and world changing mission Devcoin is the alt coin which just might one day literally go to the moon, through eventually sponsoring the development of an open source spacecraft. To visit the custom coded Devcoin forum please go to: http://coinzen.org/ Visit http://devcoin.org/ for more information. Contact Info Name: Devcoin Media Organization: Devcoin Email: [email protected] |
1,396,239,900 | 2014-03-31 04:25:00+00:00 | {"Bitcoin": [19], "BTC": [2873]} | {"Bitcoin": [0]} | Bitcoin Alternative Devcoin Enjoys Massive Community Growth Launching Custom Coded Forum | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-alternative-devcoin-enjoys-massive-042500567.html | ACCESSWIRE | https://www.accesswire.com/ | Devcoin - the only Bitcoin alternative which sponsors open source work worldwide - has experienced huge growth in the size of the community, having launched DVC's very own custom coded Devcoin forum. March 31st, 2014 / The development of a custom coded Devcoin forum and rapid growth in the community of Devcoiners mark Devcoin maturing to its next phase of adoption, and solidifying its already firm position as a cryptocurrency that is built to last. Devcoin sets itself apart from many other alternative cryptocurrencies with its unique world changing mission: to make the world a better place by rewarding open source development in every field, especially technology, but also including marketing and art . Devcoin is also unique in that the bulk of its block generation reward does not go to miners but to people worldwide involved in open source work. The Devtome project’s stable of writers has seen massive growth in the past few weeks as word is getting out that writers can get paid for their creative work much faster than through many traditional publication routes. The writers joining the community are successful business owners, established writers and bloggers, and even high school and college students. These new writers are eager to contribute to Devcoin’s growth and development while reaping the rewards that come from publishing their open source content on Devtome. The quality of writing has also seen big improvements as many of the writers who joined earlier have become article administrators and have made it their mission to weed out poor quality work while helping competent writers to further improve their work. The increase in the number of writers forming the Devtome community, along with the higher standards for content, has added some healthy competition for the shares making up the monthly 180 million Devcoin generation reward. This pool is divided up among an ever increasing pool of writers. The anticipation of higher future value means more writers are choosing to hang onto, rather than immediately sell, their earnings. For those who do want to sell, there are investors who believe they are buying at a bargain. When investors buy and hold Devcoins they are supporting the overall goals of the Devcoin project which include plans to sponsor the development of an open source spaceship. Story continues The Devcoin community now has a new home in Coinzen, a forum custom designed for Devcoin but with potential to also become a home for other alt coin communities . Coinzen has a few custom coded features which give forum posters greater control over their threads, such as the ability to moderate threads they started and add other users to their buddy lists. In a world where a new alt coin is announced every day and where the majority will fail, Devcoin is one of the few which has stood the test of time. With the DVC/BTC market on Cryptsy launching last month, the massive growth of the Devtome writer community, the creation of the Coinzen forum, and its ongoing unique and world changing mission – Devcoin is the alt coin which just might one day literally go to the moon, through eventually sponsoring the development of an open source spacecraft. To visit the custom coded Devcoin forum please go to: http://coinzen.org/ Visit http://devcoin.org/ for more information. Contact Info Name: Devcoin Media Organization: Devcoin Email: [email protected] |
1,396,272,989 | 2014-03-31 13:36:29+00:00 | {"Bitcoin": [533, 1300, 1327, 1348, 1460, 3720, 3730]} | {"Bitcoin": [13]} | 3 Secrets to Bitcoin Investment Success | https://finance.yahoo.com/news/3-secrets-bitcoin-investment-success-133629481.html | Benzinga | http://www.benzinga.com/ | This week the bitcoin ecosystem got a lot of great news – investors are pouring millions into the ecosystem, the IRS clarified the U.S. tax situation , and Stripe announced they will support bitcoin this year. However bitcoin investors got a serious jolt yesterday when bitcoin dropped 20%. Quick drops like that can hurt bitcoin investors by causing them to buy high and sell low or sell low and miss big gains. Successful bitcoin investors need to do three things: have a plan, expect drops, and secure their bitcoins. Have a Plan Bitcoin investors need to have a strategy: It could be day trading, trying to pay off student loans, trying to retire, etc. These different strategies will provide a framework to make a risk reward tradeoff decision. For example, a student wanting to pay off loans may decide it makes sense to invest $100 now with the potential to pay off their student loan debt in 4 years, whereas a young software developer may invest $10,000 looking to retire in ten years. If their bitcoin holdings increase to $100,000, the student has realized his goal and knows it makes sense to cash out, whereas the software developer knows $100,000 is not enough to retire on. Without a framework like that one can always be questioning: should I get out now? See also: 3 Reasons The IRS Bitcoin Ruling Is Good For Bitcoin Expect Drops Bitcoin's price will drop. It's price will probably drop more and faster than any other investment you've held. Bitcoin is held nearly exclusively by speculators and early adopters making its volatility normal. In fact bitcoin is more stable than it has ever been. No one knows if this nascent technology will disrupt finance with the same magnitude the internet disrupted communications or be displaced and relegated to the dust bins of history like the pager. It is volatile like a tech startup and that is where the potentially massive financial upside comes from. Around noon on Wednesday October 2nd 2013 I was sitting on a nice 25% gain having had bitcoins for about two months. Around noon I got an email from a friend letting me know the FBI had caught the guy suspected to be running Silk Road, an online marketplace selling illegal drugs through bitcoin. Curiously wondering if that would affect the price and I casually opened a web browser to watch the price. Story continues As I watched the price start to tick down a bit. I greedily pondered buying more. Almost before I could complete the thought my screen turned red as the price went into free-fall. I stared into my computer screen like a deer frozen in headlights watching my 30% gain plummet into a loss. Should I sell? Why didn't I sell? How low will it go? Should I buy? What happens if it goes to $0? The stress was awful. My stomach hurt, hands were clammy, my brain abuzz with regret at the thousands vaporized through my inaction. I wanted to look away, to think about something else, but couldn't – hypnotized by all the red pixels in front of me. Then the price reversed! Almost faster than it fell it rocketed back up 25% getting me back into positive territory! Relief rushed over me. Talking to bitcoin veterans I found out this had been a relatively small drop given the magnitude of the news. Prior crashes had resulted in much larger losses. The veterans viewed this flash crash as a chance to pick up bitcoin on sale. I found out they were right as bitcoin surged 1,000% over the following 8 weeks. I feel bad because I know some people bought in high, sold in the dip, and then missed out on the subsequent gains. I feel bad because it would have been for me to make the same mistake. That is why it is important to expect drops, prepare for drops, and stick to the plan. Secure Those Bitcoins! Bitcoin gives owners 100% control over their funds. With that great power comes responsibility. Aside from being your own worst enemy by selling low, the next worst way to lose bitcoins are to have them stolen by bad security practices. Too many bitcoin investors have lost small fortunes through poor investment decisions and outright thefts. I estimate the root issue for 90% of thefts stem from people trusting funds with another party. This is ironic because the bitcoin creator saw the need to remove trust, stating in his white-paper : “What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” Any time funds are held in an online wallet, online exchange, or business those funds are at an increased level of risk. The company can get hacked, run their business poorly, or have an insider steal the funds. The more users of the service, the larger the prize awarded in a successful heist. When evaluating places to put bitcoins it is important to think of trust factors such as: who owns this company, where is this company located, what security features does this company employ, and how does this business make money? Some bitcoin “businesses” entire business model is just to take users money like the bitcoin savings and trust. Unfortunately storing bitcoins yourself, on your computer or smartphone doesn't eliminate the threat of loss entirely. It does substantially reduce the target, but your computer can be attacked through software flaws, viruses, and phishing attempts. Keep the wallet on the household computer least likely to get infected, ensure it is password protected, and wait for better solutions. Hardware manufacturers like Trezor are rapidly working to make bitcoins much safer for individuals to store. If a bitcoin investment grows into the tens of thousands of dollars it probably makes sense to explore setting up an encrypted offline paper wallet and storing it in a bank safety deposit box. That eliminates the risks outlined above but reduces access to all the funds stored on the wallet. If bitcoin achieves even a fraction of the potential venture capitalists are projecting investors following these three steps: having a plan, expecting drops, and securing those bitcoins are likely to benefit from their early investment in the technology. Disclosure: At the time of this writing David Smith has a long bitcoin position. Related Links Weekly Highlights: Apple And Comcast Union, King's Botched IPO, Facebook Drones And More Amazon Video Event Rumor Roundup: What Will Be Announced? Matterport CEO Bill Brown Discusses Google's Project Tango, Mobile Innovation And More © 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
1,396,275,615 | 2014-03-31 14:20:15+00:00 | {"Bitcoin": [2810]} | {} | Are Chinese Stocks Really a Bargain? | https://finance.yahoo.com/news/chinese-stocks-really-bargain-142015811.html | ETFguide | http://www.etfguide.com/ | Chinese stocks are the bargain of a lifetime. Thats what pundits from Goldman Sachs to analysts at major media outlets have been reporting. Are they right? The resurgence of borrowing money, led by world governments, has pushed global debt levels up 40% from $70 trillion in 2007 to around $100 trillion today. And while the bull market in debt has been fueled by government spending, corporations both private and public have joined the party. Although it may not seem like its relevant to Chinese equities, it is. Where is corporate debt at most alarming levels? Look no further than the Asia Pacific ( VPL ) basin. Corporate debt as a percentage of GDP in China now exceeds other countries with high debt-to-GDP levels like Singapore (133%) ( EWS ), Malaysia (116%) ( EWM ), and the United Kingdom (115%). According to some estimates, Chinas corporate debt last year hit record levels near $12 trillion. Overleveraged corporate balance sheets in China ( FXI ) is a big problem. But nobody knows exactly how big. Thats because a lack of financial transparency is a hallmark of how Chinese enterprises along with the Peoples Bank of China operate. In fact, their opacity is so great, Chinas regulators dont even know the true extent of systematic risks facing their nation. Opacity is an investors worst nightmare. China Leverage Contrary to the bullish picture pundits have painted, my latest ETF investing video about China exposes the propaganda and misinformation about Chinese markets ( YANG ). Saying that Chinas financial crisis is over when it hasnt even started is misleading. I also reveal the ETF ticker of an inverse performing China ETF designed to increase in value when Chinese stocks fall that gained 23% from our Dec. 6, 2013 buy alert, when Goldman Sachs was saying to buy Chinese stocks. Last week, panicked bank customers demanded their money at a regional bank in Sheyang country on Chinas eastern coast. Instead of being an isolated or one-time event, this is a microcosm of whats yet to come elsewhere in China. Story continues At best guess, Chinas total debt-to-GDP, which includes corporate, government, and household debt is around 200%-250% of GDP. Decelerating growth and an economic shock of unknown magnitude will only make it harder to pay off the debt. Or as Warren Buffett once said: Debt is a four-letter word. The ETF Profit Strategy Newsletter uses technical, fundamental, and sentiment analysis along with market history and common sense to keep investors on the right side of the market. In 2013, 70% of our weekly ETF picks were gainers. Follow us on Twittter @ ETFguide Related Posts: The First Inning of Chinas Bear Market Chinese Stocks are a Wonderful Value Trap Chinas Busted Bank Loans Hit 2008 Crisis Levels Will Shadow Banking Take Down China? Bitcoin and the Road to Obsolescence |
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