Today, representatives from the Bitcoin Foundation are scheduled to meet with members of at least seven executive agencies in Washington. Regulators are attempting to understand where to begin with a digital currency that is not backed by a central government like traditional fiat currencies. The main concerns of regulators are to ensure that Bitcoin and other digital, decentralized currencies are not used for illegal activities such as drug purchases or money laundering. Patrick Murck along with additional representatives from the Bitcoin Foundation hope to alleviate concerns of regulators and answer any questions to be able to move forward in a safe regulatory environment. The Wall Street Journal highlighted the desire for the Bitcoin Foundation and some Bitcoin companies to […]
The post Bitcoin Foundation Leadership to Meet with Regulators in Washington appeared first on Bitcoin Magazine.
Today, representatives from the Bitcoin Foundation are scheduled to meet with members of at least seven executive agencies in Washington. Regulators are attempting to understand where to begin with a digital currency that is not backed by a central government like traditional fiat currencies. The main concerns of regulators are to ensure that Bitcoin and other digital, decentralized currencies are not used for illegal activities such as drug purchases or money laundering. Patrick Murck along with additional representatives from the Bitcoin Foundation hope to alleviate concerns of regulators and answer any questions to be able to move forward in a safe regulatory environment. The Wall Street Journal highlighted the desire for the Bitcoin Foundation and some Bitcoin companies to […]
The post Bitcoin Foundation Leadership to Meet with Regulators in Washington appeared first on Bitcoin Magazine.
US regulators, Bitcoin group to discuss digital currencyChicago TribuneWASHINGTON (Reuters) – U.S. regulators and law enforcement agencies are expected to meet on Monday with an advocacy group for Bitcoin, a digital currency that has been under fire fo…
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US regulators, Bitcoin group to discuss digital currencyChicago TribuneWASHINGTON (Reuters) - U.S. regulators and law enforcement agencies are expected to meet on Monday with an advocacy group for Bitcoin, a digital currency that has been under fire for its purported role in facilitating anonymous money transfers and ... |
After a month of silence from Avalon on the status of over 800,000 ASIC chips that had been pre-ordered, there were indications that chips may be arriving soon when two group buys announced they received tracking numbers late last week. Application specific integrated circuits (ASIC) are specialized chips that perform bitcoin mining calculations. Starting in mid-April, Avalon sold bulk orders of ASIC chips in batches of 10,000, with each chip hashing at an estimated 400 MH/s overclocked. Today Bitmine.ch posted pictures showing the arrival 10,000 Avalon ASIC chips, indicating that thier Batch #1 pre-orders should be expecting delivery soon. Bitmine.ch is the first company to announce the arrival of chips since Avalon re-initiated the shippment of orders. The exif data on the photographs indicate they were taken on 8/26 from an iPhone 4, and contain Bitmine’s logo in the background so there is little reason to think this is not authentic. Bitmine is a Swiss-based company that sells clones of Avalon’s original mining unit, which contained fully assembled Avalon chips…
The post Bitmine Receives First ASICs After Avalon Resumes Shipping appeared first on The Genesis Block.
After a month of silence from Avalon on the status of over 800,000 ASIC chips that had been pre-ordered, there were indications that chips may be arriving soon when two group buys announced they received tracking numbers late last week. Application specific integrated circuits (ASIC) are specialized chips that perform bitcoin mining calculations. Starting in mid-April, Avalon sold bulk orders of ASIC chips in batches of 10,000, with each chip hashing at an estimated 400 MH/s overclocked. Today Bitmine.ch posted pictures showing the arrival 10,000 Avalon ASIC chips, indicating that thier Batch #1 pre-orders should be expecting delivery soon. Bitmine.ch is the first company to announce the arrival of chips since Avalon re-initiated the shippment of orders. The exif data on the photographs indicate they were taken on 8/26 from an iPhone 4, and contain Bitmine’s logo in the background so there is little reason to think this is not authentic. Bitmine is a Swiss-based company that sells clones of Avalon’s original mining unit, which contained fully assembled Avalon chips…
The post Bitmine Receives First ASICs After Avalon Resumes Shipping appeared first on The Genesis Block.
Bitcoin goes to WashingtonMarketWatch (blog)Banking regulators and U.S. law enforcement officials on Monday will hear from a trade group representing Bitcoin, a sign that Washington is trying harder to understand how to regulate virtual currencies. Pat…
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Bitcoin goes to WashingtonMarketWatch (blog)Banking regulators and U.S. law enforcement officials on Monday will hear from a trade group representing Bitcoin, a sign that Washington is trying harder to understand how to regulate virtual currencies. Patrick Murck, general counsel for the Bitcoin ... |
RTAfter subpoenas, Bitcoin companies start lobbying WashingtonRTA trade group representing the interests of the Bitcoin community is expected to meet in the United States capital on Monday with representatives from no fewer than seven governmental agen…
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After subpoenas, Bitcoin companies start lobbying WashingtonRTA trade group representing the interests of the Bitcoin community is expected to meet in the United States capital on Monday with representatives from no fewer than seven governmental agencies including the Federal Reserve and Department of Homeland ... |
If you have been involved in Bitcoin for any significant length of time, you have probably at least heard of the idea of “proof of work”. The basic concept behind proof of work is simple: one party (usually called the prover) presents the result of a computation which is known to be hard to compute, but easy to verify, and by verifying the solution anyone else can be sure that the prover performed a certain amount of computational work to generate the result. The first modern application, presented as “Hashcash” by Adam Back in 1996, uses a SHA256-based proof of work as an anti-spam measure – by requiring all emails to come with a strong proof-of-work attached, the system makes […]
The post What Proof of Stake Is And Why It Matters appeared first on Bitcoin Magazine.
If you have been involved in Bitcoin for any significant length of time, you have probably at least heard of the idea of “proof of work”. The basic concept behind proof of work is simple: one party (usually called the prover) presents the result of a computation which is known to be hard to compute, but easy to verify, and by verifying the solution anyone else can be sure that the prover performed a certain amount of computational work to generate the result. The first modern application, presented as “Hashcash” by Adam Back in 1996, uses a SHA256-based proof of work as an anti-spam measure – by requiring all emails to come with a strong proof-of-work attached, the system makes […]
The post What Proof of Stake Is And Why It Matters appeared first on Bitcoin Magazine.
Geeky gadgets$5 Million Seized From BitCoin Company Mt. GoxGeeky gadgetsNot long ago we reported that some BitCoin companies were subpoenaed by the New York State Department of Financial Services. However, we now found out that the U.S. government went…
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$5 Million Seized From BitCoin Company Mt. GoxGeeky gadgetsNot long ago we reported that some BitCoin companies were subpoenaed by the New York State Department of Financial Services. However, we now found out that the U.S. government went after BitCoin a few months earlier in May when it seized more than ... |
Bitcoin Group, Regulators to MeetWall Street JournalRepresentatives from at least seven government agencies are scheduled to meet Monday with the main Bitcoin trade group amid a growing focus from regulators and law-enforcement authorities on the fledg…
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Bitcoin Group, Regulators to MeetWall Street JournalRepresentatives from at least seven government agencies are scheduled to meet Monday with the main Bitcoin trade group amid a growing focus from regulators and law-enforcement authorities on the fledgling virtual currency. Patrick Murck, general ... |
Federal agency representatives meeting to discuss bitcoinCoinDeskHosted by the Bitcoin Foundation at the US treasury building in Washington DC, the meeting will be attended by high-level representatives from the Financial Crimes Enforcement Network (Fi…
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Federal agency representatives meeting to discuss bitcoinCoinDeskHosted by the Bitcoin Foundation at the US treasury building in Washington DC, the meeting will be attended by high-level representatives from the Financial Crimes Enforcement Network (FinCEN), the Federal Deposit Insurance Corporation (FDIC), the ... |
Bitcoin aims to counter regulatory pressureFinancial TimesRepresentatives of companies that trade in Bitcoin are stepping up their efforts to promote the virtual currency in Washington, in an attempt to counter regulatory suspicion that they say will d…
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Bitcoin aims to counter regulatory pressureFinancial TimesRepresentatives of companies that trade in Bitcoin are stepping up their efforts to promote the virtual currency in Washington, in an attempt to counter regulatory suspicion that they say will drive financial innovation away from the US. Leaders of the ... |
Bitcoin is legal, let it evolve into its role, researchers urgeTechHiveAs the tech industry grapples with the potential benefits and risks of the digital currency Bitcoin, policymakers should take care not to impose heavy-handed restrictions on an inno…
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Bitcoin is legal, let it evolve into its role, researchers urgeTechHiveAs the tech industry grapples with the potential benefits and risks of the digital currency Bitcoin, policymakers should take care not to impose heavy-handed restrictions on an innovative platform that could transform global commerce, a pair of ... |