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1,385,424,120 | 2013-11-26 00:02:00+00:00 | {"Bitcoin": [1363, 1380]} | {} | A New Android App Gives You Amazing Control Over What Your Other Apps Can Do | https://finance.yahoo.com/news/android-app-gives-amazing-control-000204659.html | Business Insider | http://www.businessinsider.com/ | Color Tiger
You know how, when you download a new app, at some point your phone tells you, "this app wants permission to ..." and the app tell you that it wants to track your whereabouts, or access you contact list, etc.
Say no, and you might not get to use the app.
In the last version of Android, Google had included a feature called App Ops. It let you decide what you wanted to allow each app to do. Were you cool with the app waking up the device? Tracking your location? Accessing your camera? You got to choose.
And then, in the newest version, KitKat,it looked like Google removed App Ops.
It turns out, Google didn't remove it, it hid it.
A new free app calledApp Ops by developer Color Tigerlaunched today taps into that hidden feature and brings it back.
If you are a savvy enough Android user to have root access to your phone, there's also a pro version of App Ops that lets you control even more things.Root access is when you break into the phone's software,to control the parts of it that normal users aren't supposed to mess with.
The Pro version of App Ops lets you do things like change permissions for multiple apps at once.
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• I Told Salesforce.com CEO Marc Benioff How To Fix The Hackathon Kerfuffle And This Was His Reply
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1,416,830,400 | 2014-11-24 12:00:00+00:00 | {"Bitcoin": [500]} | {} | GAW Miners Announces Plans for Initial Coin Offering | https://finance.yahoo.com/news/gaw-miners-announces-plans-initial-120000855.html | Marketwired | http://www.marketwired.com/ | BLOOMFIELD, CT--(Marketwired - Nov 24, 2014) -GAW Miners, one of the world's foremost bitcoin mining hardware manufacturers and digital cloud mining providers, today announced its Initial Coin Offering (ICO) with the introduction of Paycoin™, a new cryptocurrency released alongside bitcoin to facilitate mass adoption and long-term valuation stability of this new digital currency.
Positioned as the cryptocurrency of the future,Paycoinaddresses all of the inherent shortcomings that have prevented Bitcoin from achieving mainstream adoption. PayCoin improves upon existing coins by producing a decentralized network structured to promote price stability, fast transaction times, and rich features for achieving widespread consumer and merchant adoption.
Additionally, by employing a Hybrid-Flex Blockchain and Transaction Immutability coupled with the latest in cryptography and economic theory, GAW Miners is producing a digital currency fit for a global audience. Paycoin will be available to the public beginning January 2, 2015.
"Although relatively new, cryptocurrency is shifting the economic paradigm and that is reason enough for traditional financial organizations to start taking this seriously," said co-founder and early investor, Stuart Fraser, Vice Chairman and partner, Cantor Fitzgerald, L.P. "With the marrying of innovation, technology, finance and regulation -- I believe that cryptocurrency can provide a value proposition that has never before been contemplated in global commerce and thus has the real possibility of being a viable mainstream currency accepted by the masses around the globe."
"Cryptocurrency is a young, disruptive technology that offers easier, faster and more secure transactions between individuals and merchants than any payment technology to date," said GAW Miners founder and CEO Josh Garza. "However all existing cryptocurrencies have failed to achieve an adoption path leading to mainstream use. This is the primary reason why we're introducing Paycoin via this ICO.
"Because Paycoin carries with it the best features of bitcoin while making corrections where necessary to produce a coin network fit for global acceptance," Garza continued.
"To be honest, changing the world economy fromfiatto cryptocurrency requires enormous effort. A decentralized currency leaves behind no parties with a financial incentive to do the work needed in order to promote global adoption. Until now that is. Paycoin's ICO fills in the missing piece by supporting continual adoption efforts allowing us to be the first to both legitimize and bring cryptocurrency to the mass market," concluded Garza.
About GAW MinersGAW Miners is the fastest growing bitcoin mining technology provider, offering a range of world-class bitcoin mining hardware and cloud-based solutions. This includes Digital Cloud Mining (DCM) solutions, which are offered under the Hashlet, HashletGenesis, HashletSolo and HashletPrime brands. GAW Miners' bitcoin mining technology is in use around the world. For more information visit:www.gawminers.com. |
1,385,500,631 | 2013-11-26 21:17:11+00:00 | {"Bitcoin": [4751]} | {} | How To Talk To Your Family About The Taper Over Thanksgiving | https://finance.yahoo.com/news/talk-family-taper-over-thanksgiving-211711666.html | Business Insider | http://www.businessinsider.com/ | Flickr
Thanksgiving is two days away so it's about that time when you start fretting about how you talk to your relatives about public affairs. Most people are worried about debates over Obamacare.Wonkblog's Sarah Kliff gives a rundown on how to navigate those. But there's a more pressing issue that is sure to light up dinner table discussion and create all sorts of mayhem: the Fed's taper!
Here's your guide for how to handle those conversations:
What is tapering?
Let's start of with the basics. The Federal Reserve has been using an unconventional monetary policy tool called quantitative easing (QE) to spur economic growth since the Fed has already cut short term rates, the tool it normally uses to fight recession, to zero. This is the third round of QE and has been in place since September of last year when the Fed announced it would buy $40 billion of mortgage-backed securities. In December, it began buying an additional $45 billion of long-term Treasuries. The goal of these asset purchases is to bring down long-term interest rates by removing supply from the market. As the economy has recovered in the past 15 months, the Fed has begun considering when it would start reducing its purchases. That's called tapering.
So, that's what tapering is. Does anyone know when the Fed is going to stop?
Nope. No one knows for sure, not even Ben Bernanke or Janet Yellen.
Back in June, Bernanke announced that if the economy continued improving at a moderate pace, that the taper would happen sometime in the latter half of the year. Over the summer, the recovery slowed slightly, mortgage rates rose and the potential for a government shutdown grew. The Fed surprised the market in September when it postponed the taper.
Right now, no one is certain when the taper will come. Many believe it will happen in March in Janet Yellen's first FOMC meeting as chairman while others believe it will occur in December during Bernanke's final meeting. Much of it will depend on the upcoming economic data, specifically the November jobs report.
Wait, I thought the market has a good read on these things. Why was it so surprised in September?
There are mixed opinions on this. Many blame the Fed's communication strategy and argue that it led the market to believe that a taper was coming in September. Others, including Bernanke himself, think that the Fed followed the baseline policy that it laid out in June. They say that the Fed informed the market that a taper was comingifthe underlying economic data continued to come in at a continued pace. Since it came in below that level, it's not surprising that the Fed postponed tapering.
OK got it. I've heard a lot of people argue that QE is going to cause rampant inflation. Is that true? Are we about to see prices skyrocket?
Nope.
Many economists have spent the past few years predicting that inflation is right around the corner. They argue that the Fed has pumped trillions of dollars into the money supply and that this will undoubtedly lead to inflation. Except that hasn't happened.
Inflation has been persistently below the Fed's 2% target the past few years, despite those dire warnings. In fact, some commentators are starting to become more worried about deflation than inflation after CPI came in at just 1.0% year over year rate in October and core CPI, which is prices minus food and energy, came in at 1.7%.
Quite simply, there are no signs that inflation is around the corner.
Alright, that's comforting at least. What about unemployment? Is the economy improving?
Yes, but slowly. The October jobs report, which was distorted a bit by the government shutdown, showed stronger job growth than we have seen in a while. The housing market looks like it is still improving despite rising mortgage rates over the summer. Retail sales and GDP growth both came in above expectations as well. However, expectations have been low so beating them was not difficult. The economy is still recovering at a slow pace and it would be years until we reached full employment.
Well there goes my comfort. Is there anything that can make me feel optimistic?
Well, things could be a lot worse. Just look at Europe. The ECB has been much slower to cut rates and have not used any unconventional tools like the Fed has done with quantitative easing. That has lead to a miserably slow recovery that is still way behind yours.
As for back here, the economy is slowly getting better and it doesn't look we'll have another government shutdown.
If that doesn't cut it for you, then check out Steven Perlberg's guide forhow to drink on Thanksgiving. That always makes dinner table arguments much more fun.
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• CHART OF THE DAY: Here's What The Changing Stocks-Bonds Correlation Means For Equities When The Fed Tapers |
1,385,553,960 | 2013-11-27 12:06:00+00:00 | {"Bitcoin": [856]} | {} | 10 Tech Things You Need To Know This Morning | https://finance.yahoo.com/news/10-tech-things-know-morning-120629677.html | Business Insider | http://www.businessinsider.com/ | Google
Only one more day until we gorge ourselves with turkey! Here's some news to tide you over.
1. The NSA spied on the porn-watching habits of six Muslim "radicalizers" so it could potentially undermine their credibility, according to Snowden documents.
2. Aaron Levie of Box has been named Inc's Entrepreneur of the Year.
3. Was the viral GoldieBlox video, which re-wrote lyrics for The Beastie Boys' song Girls, legal?That's up for debate, but there's a good explanation of fair use and what constitutes copyright infringementhere.
4. Apple has tweaked its App Store search engine to improve results for mis-typed words.
5. Fab's CEO has a track record of failing.Here's how the company found itself in rough shape and what Jason Goldberg needs to do to turn it around.
6. There may be no link between the alleged Silk Road founder and the founder of Bitcoin after all.
7. Athos is a tiny new wearable sensor that's built into Under Armour-like shirts and leggings.It tracks everything from repetitions, heart rate and muscle effort while you work out.
8. Google is inviting developers to buy Glass now.
9. "OK Google": Google is releasing a new Chrome extension that will enable hands-free voice search on desktop computers.
10. MSNBC has fired Alec Baldwin over a "homophobic rant" at a New York Post photographer.His show, "Up Late With Alec Baldwin" has been cancelled.
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1,385,573,760 | 2013-11-27 17:36:00+00:00 | {"Bitcoin": [0, 359, 870, 1733, 2805, 3282, 3551, 3612, 3712]} | {"Bitcoin": [0]} | Bitcoin Breaks $1,000 for First Time Ever | https://finance.yahoo.com/news/bitcoin-breaks-1-000-first-173600505.html | Entrepreneur | http://www.entrepreneur.com/ | Bitcoincontinued its stellar rally on Wednesday, breaking above $1,000 for the first time and marking a rise of over 7,600 percent so far this year.
Many analysts and investors have labeled bitcoin's unfettered rise a bubble, yet greater awareness of digital currencies and relief following last week's U.S. senate hearing have paved the way for fresh gains.
Bitcoin traded as high as $1,030 on the Mt. Gox exchange, up 7,661 percent year-to-date from its December 31 close of $13.27.
Digital currencies cleared a major hurdle when U.S. authorities signaled a willingness to accept them as legitimate payment alternatives at a November 18 U.S. Senate hearing on virtual currencies. The outcome allayed concerns that the government would take steps that could undercut mainstream adoption.
"What we're seeing is governments publicly announce and show that they recognize Bitcoin as a factor in the financial system and that they are considering how to regulate it - which is good for the currency," Zennon Kapron, managing director of KapronAsiam, told CNBC.
Comments from Federal Reserve Chairman Ben Bernanke were also seen as supportive. In an open letter to Senators before the Senate hearing Bernanke echoed comments from former Fed Vice Chairman Alan Blinder who spoke about digital currencies at a House of Representatives hearing in 1995.
"Vice Chairman Alan Blinder's testimony at that time made the key point that while these types of innovations may pose risks related to law enforcement and supervisory matters, there are also areas in which they may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system," Bernanke wrote.
With much of the recent surge in Bitcoin demand coming from China, the U.S. senate hearing outcome has raised expectations that Beijing may steer away from heavily regulating digital currencies.
"If either government were going to ban the currency outright, they would have made the decision now rather than later as it would really serve no purpose to delay beyond fueling speculation. So overly heavy-handed government regulation looks unlikely," Zennon added.
The digital currency has risen around 30 percent since its open on Tuesday, November 19, one day after the U.S. Senate hearing.
Greater awareness
Increased awareness also underlies bitcoin's continued rise following a surge in mainstream media coverage and the preponderance of bitcoin-related events globally.
Web-based searches for the term 'bitcoin,' which was added to Oxford Dictionaries Online this year, have seen a sharp increase since September according to Google data. On the day of the U.S. Senate hearing on virtual currencies, 'bitcoin' was the most popular search term, Google Trends showed.
India will hold its first official Bitcoin conference in mid-December. According to a report in the Economic Times, the event is expected to see participation from the Reserve Bank of India – India's central bank – as well as State Bank of India – the country's largest bank.
Billionaire entrepreneur Richard Branson said last Friday that his commercial space flight venture will accept bitcoin as payment.
A test of whether the digital currency is being accepted more broadly could come with the second annual 'Bitcoin Black Friday' this week. The event will be held one day after the U.S. Thanksgiving holiday. According to the official promotional website for the event, merchants selling everything from web hosting to organic beer will offer special deals to anyone paying in Bitcoin.
More From Entrepreneur
• Black Friday: A Chance for Bitcoin to Get Some Mainstream Love
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• Alleged Creator of Silk Road Detained Without Bail |
1,385,573,760 | 2013-11-27 17:36:00+00:00 | {"Bitcoin": [0, 359, 870, 1733, 2805, 3282, 3551, 3612, 3712]} | {"Bitcoin": [0]} | Bitcoin Breaks $1,000 for First Time Ever | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-breaks-1-000-first-173600505.html | Entrepreneur | http://www.entrepreneur.com/ | Bitcoincontinued its stellar rally on Wednesday, breaking above $1,000 for the first time and marking a rise of over 7,600 percent so far this year.
Many analysts and investors have labeled bitcoin's unfettered rise a bubble, yet greater awareness of digital currencies and relief following last week's U.S. senate hearing have paved the way for fresh gains.
Bitcoin traded as high as $1,030 on the Mt. Gox exchange, up 7,661 percent year-to-date from its December 31 close of $13.27.
Digital currencies cleared a major hurdle when U.S. authorities signaled a willingness to accept them as legitimate payment alternatives at a November 18 U.S. Senate hearing on virtual currencies. The outcome allayed concerns that the government would take steps that could undercut mainstream adoption.
"What we're seeing is governments publicly announce and show that they recognize Bitcoin as a factor in the financial system and that they are considering how to regulate it - which is good for the currency," Zennon Kapron, managing director of KapronAsiam, told CNBC.
Comments from Federal Reserve Chairman Ben Bernanke were also seen as supportive. In an open letter to Senators before the Senate hearing Bernanke echoed comments from former Fed Vice Chairman Alan Blinder who spoke about digital currencies at a House of Representatives hearing in 1995.
"Vice Chairman Alan Blinder's testimony at that time made the key point that while these types of innovations may pose risks related to law enforcement and supervisory matters, there are also areas in which they may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system," Bernanke wrote.
With much of the recent surge in Bitcoin demand coming from China, the U.S. senate hearing outcome has raised expectations that Beijing may steer away from heavily regulating digital currencies.
"If either government were going to ban the currency outright, they would have made the decision now rather than later as it would really serve no purpose to delay beyond fueling speculation. So overly heavy-handed government regulation looks unlikely," Zennon added.
The digital currency has risen around 30 percent since its open on Tuesday, November 19, one day after the U.S. Senate hearing.
Greater awareness
Increased awareness also underlies bitcoin's continued rise following a surge in mainstream media coverage and the preponderance of bitcoin-related events globally.
Web-based searches for the term 'bitcoin,' which was added to Oxford Dictionaries Online this year, have seen a sharp increase since September according to Google data. On the day of the U.S. Senate hearing on virtual currencies, 'bitcoin' was the most popular search term, Google Trends showed.
India will hold its first official Bitcoin conference in mid-December. According to a report in the Economic Times, the event is expected to see participation from the Reserve Bank of India – India's central bank – as well as State Bank of India – the country's largest bank.
Billionaire entrepreneur Richard Branson said last Friday that his commercial space flight venture will accept bitcoin as payment.
A test of whether the digital currency is being accepted more broadly could come with the second annual 'Bitcoin Black Friday' this week. The event will be held one day after the U.S. Thanksgiving holiday. According to the official promotional website for the event, merchants selling everything from web hosting to organic beer will offer special deals to anyone paying in Bitcoin.
More From Entrepreneur
• Black Friday: A Chance for Bitcoin to Get Some Mainstream Love
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1,385,574,420 | 2013-11-27 17:47:00+00:00 | {"Bitcoin": [6325]} | {} | Online Shoppers: Beware the 12 Scams of Christmas | https://finance.yahoo.com/news/online-shoppers-beware-12-scams-174700405.html | Entrepreneur | http://www.entrepreneur.com/ | Christmas may be the season for giving, but it also the season for scamming, according to internet security firm McAfee.
As more and more consumers now use their smartphones to help manage the demands of the holiday season, the risk of exposure to malicious software or malware, which enables cyber criminals to steal personal information, is higher than ever.
Here, we reveal the 12 most prevalent scams to help you be extra vigilant and keep your festive good mood intact this Christmas.
1. Not-so-merry mobile apps
The holiday season has prompted the launch of a whole range of fresh mobile applications, or 'apps,' designed to enhance the holiday shopping experience. But McAfee warns consumers to think twice before downloading; malicious software can masquerade as a trusted app, allowing cyber criminals to steal personal information and charge purchases to your accounts. Only update your apps by using an official, trusted app store to minimize this risk.
2. Holiday mobile SMS scams
Scammers obtain your mobile numbers from websites or forms people you might have innocently given your contact details too. One method is to target victims by sending texts promising "free" gifts or prizes, but consumers who click on the links could find themselves handing over sensitive information in exchange for the free gift, exposing them to credit card fraud and identity theft. Texters should also be careful that they don't find themselves unwittingly signed up to a premium rate texting service that racks up a hefty bill. Even worse, malware can even hide in the background watching your text messages for bank authorization codes to steal. Keep an eye on your bills for unusual text messaging charges.
3. Hot holiday gift scams
The old adage 'if it seems too good to be true it probably is' rings true when it comes to holiday scams. Beware of seemingly incredible deals on the latest tablet devices, game consoles, and other hot gadgets. If you click a link to enter a contest or get a great deal on a new device you could end up on a site that attempts to trick you into downloading malware or revealing your personal information. To avoid getting duped, McAfee experts recommend being suspicious of very low prices and online stores you've never heard of.
4. Seasonal travel scams
Travel is a big part of the holiday season for many people, and we often look for the best flights and hotel deals online. But cyber criminals are present here as well, working hard to trick you into giving up your credit card numbers and other private information. The same rule on holiday gift scams applies here, be wary of unrealistically low prices on vacations and stick to reputable sites.
5. Dangerous E-Season Greetings
Yes, you guessed it; even electronic greeting cards can contain malware that makes itself at home on your tablet, phone or computer when you click on e-card link. While most are safe and harmless, McAfee advises not opening the link unless you know the sender. You can also check the address that the e-card came from to verify it belongs to a legitimate, known greeting company.
6. Deceptive online games
Many people enjoy playing online and interactive games on their smartphones and tablets, but a seemingly harmless game can also be used by cyber criminals to lure you into downloading malware. While you're busy ridding the world of zombies, malware could be busy extracting your personal information. Game fans should check online reviews for warnings from less fortunate gamers and stick to well-known app stores.
7. Shopping notification shams
Cyber criminals know you'll get deliveries during the holidays, so they send out fake but realistic email messages with shipping verification requests, but filling out bogus forms can lead to account theft or identity fraud. Check the sender's email address to see if it's valid, look out for spelling and grammar mistakes – a trademark warning sign of a fake email – and bear in mind, most shippers will already have the information they need so won't need to ask for it again.
8. Bogus gift cards
Gift cards can be an attractive solution for buying gifts for hard-to-please friends or fussy relatives, but there are bogus ones around. The safest way to buy online is from an official retailer, not third party websites; otherwise you could end up with a red-faced friend trying to shop at the mall with a fake gift card!
9. Holiday 'SMiShing'
Most consumers are aware of email 'phishing' scams where cyber criminals masquerade as a trustworthy entity and attempt to extract user names, passwords and credit card details. But as mobile phones and tablets are become more popular, 'SMiShing' – or text message phishing – is now becoming just as dangerous. Most legitimate businesses would never ask you to provide personal details, passwords or other sensitive information in a text message. Instead of replying, contact the organization directly by phone.
10. Fake charities
The festive period can encourage many to think of those less fortunate than them, and can prompt generous donations to charities. Cyber criminals are ready to take advantage as always. Watch out for fake charities using copied texts and logos in emails or on websites, and check the sender's email address – some fake charity branding can look almost identical to authentic ones – so be vigilant.
11. Romance scams
Everyone wants someone special to share the holidays with, and online dating sites have become a popular way to meet people. But your prospective holiday romance might not be who he or she seems, and may in fact be a cybercriminal using photos, email and text messages to pretend to be another member of a dating website, with a real goal of luring you into visiting a site laden with malware. The best way to avoid this is to never click on links from anyone you don't already know and trust.
12. Phony E-tailers
Just as charities are subject to bogus imitations, so are legitimate retailers. Be careful before you hand over your credit card details, as a 'once-in-a-lifetime' special offer could turn into identity theft or an empty bank account. Check names and web addresses carefully for subtle differences that might indicate you are on a fake website and limit your online shopping to trusted e-tailers.
More From Entrepreneur
• Black Friday: A Chance for Bitcoin to Get Some Mainstream Love
• Huh? One Retailer Says Don't Buy Our Stuff on Black Friday
• McAfee: Spam, Malware On the Rise |
1,385,576,155 | 2013-11-27 18:15:55+00:00 | {"Bitcoin": [206, 518, 1025, 1059, 1811]} | {"Bitcoin": [0]} | Bitcoin passes $1,000 for first time as enthusiasm grows | https://finance.yahoo.com/news/bitcoin-passes-1-000-first-181555847.html | Reuters | https://www.reuters.com/ | NEW YORK (Reuters) - The price of the digital currency bitcoin soared above $1,000 (£614.51) for the first time on Wednesday, extending a surge this month after a U.S. Senate hearing on virtual currencies. Bitcoin hit a high of $1,073 on Tokyo-based exchange Mt. Gox, the best-known operator of a bitcoin digital marketplace, compared with just below $900 the previous day. At the beginning of the month, bitcoin, a prominent digital currency that is not backed by a government or central bank, traded at around $215. Bitcoin advocates say last week's Senate hearing gave more legitimacy to the currency, which has been gaining acceptance by the general public and investment community but has yet to become an accepted form of payment on the websites of major retailers such as Amazon.com. "It isn't just the bitcoin community saying that bitcoin is used for good things and there's a lot of great potential, we have members of Congress and government agencies who all agree," said Jinyoung Lee Englund, spokeswoman for the Bitcoin Foundation in Washington. Bitcoin is valued by many users for its anonymity. But government officials expressed concerns that many virtual currency services do not have the proper controls in place to prevent illegal activities such as money laundering. In October, federal authorities shut down an online marketplace called Silk Road that was used for purchasing drugs and hiring hit men. Authorities seized $3.6 million worth of bitcoin, which was used instead of cash or credit cards to complete transactions on Silk Road. Others pointed to the volatility in bitcoin prices. "A narrow asset class and lots of liquidity is the perfect environment for a rapid burst up in value and then corrections," said Sebastien Galy, a currency strategist at Societe Generale in New York. Bitcoin trades 24 hours a day, every day. The supply of the currency, which is "mined" by solving math problems, is limited. More than 200 bitcoin businesses and other merchants are participating in a bitcoin Black Friday shopping event, where users can buy everything from airplane tickets, Christmas trees or organic beer. (Reporting by Wanfeng Zhou; Editing by Kenneth Barry and Krista Hughes) |
1,385,580,488 | 2013-11-27 19:28:08+00:00 | {"Bitcoin": [262, 925, 1137, 2027, 2061, 2331]} | {"Bitcoin": [0]} | Bitcoin price zooms through $1,000 as enthusiasm grows | https://finance.yahoo.com/news/bitcoin-surpasses-1-000-first-time-171730595--sector.html | Reuters | https://www.reuters.com/ | By Wanfeng Zhou NEW YORK (Reuters) - The price of the digital currency bitcoin soared above $1,000 for the first time on Wednesday, extending a 400 percent surge in less than a month that some see as a growing bubble in an asset that is still a mystery to many. Bitcoin hit a high of $1,073 on Tokyo-based exchange Mt. Gox, the best-known operator of a bitcoin digital marketplace, compared with just below $900 the previous day. At the beginning of the month, bitcoin, a prominent digital currency that is not backed by a government or central bank, traded at around $215. The spike in its price has some believing that it has become overvalued in a short period of time, owing to its limited supply and increasing demand. "A narrow asset class and lots of liquidity is the perfect environment for a rapid burst up in value, and then corrections," said Sebastien Galy, a currency strategist at Societe Generale in New York. Bitcoin trades 24 hours a day, every day. The supply of the currency, which is "mined" by solving math problems, is limited, and recently stood at 12 million bitcoins, worth about $12.9 billion at recent prices. Bitcoin is not backed by physical assets and is not run by any person or group. Its value depends on people's confidence in the currency. It has been gaining acceptance by the general public and investment community but has yet to become an accepted form of payment on the websites of major retailers such as Amazon.com. Earlier in the month, the U.S. Senate held a hearing on virtual currencies, with some officials expressing concern that it is notable for its use in criminal activity and that there is a lack of regulatory oversight. But bitcoin advocates say last week's Senate hearing gave more legitimacy to the currency, in part fueling the gains. "It isn't just the bitcoin community saying that bitcoin is used for good things and there's a lot of great potential. We have members of Congress and government agencies who all agree," said Jinyoung Lee Englund, spokeswoman for the Bitcoin Foundation in Washington. Bitcoin is valued by many users for its anonymity. But government officials expressed concerns that many virtual currency services do not have the proper controls in place to prevent illegal activities such as money laundering. "Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others and confused the heck out of the rest of us," Senator Thomas Carper told the Senate Homeland Security Committee earlier this month. In October, federal authorities shut down an online marketplace called Silk Road that was used for purchasing drugs and hiring hit men. Authorities seized $3.6 million worth of bitcoin, which was used instead of cash or credit cards to complete transactions on Silk Road. More than 200 bitcoin businesses and other merchants are participating in a bitcoin Black Friday shopping event, where users can buy everything from airplane tickets to Christmas trees to organic beer. (Reporting by Wanfeng Zhou; Editing by Kenneth Barry and Krista Hughes) |
1,385,580,488 | 2013-11-27 19:28:08+00:00 | {"Bitcoin": [262, 925, 1137, 2027, 2061, 2331]} | {"Bitcoin": [0]} | Bitcoin price zooms through $1,000 as enthusiasm grows | https://finance.yahoo.com/news/bitcoin-surpasses-1-000-first-171730281.html | Reuters | http://www.reuters.com/ | By Wanfeng Zhou
NEW YORK (Reuters) - The price of the digital currency bitcoin soared above $1,000 for the first time on Wednesday, extending a 400 percent surge in less than a month that some see as a growing bubble in an asset that is still a mystery to many.
Bitcoin hit a high of $1,073 on Tokyo-based exchange Mt. Gox, the best-known operator of a bitcoin digital marketplace, compared with just below $900 the previous day.
At the beginning of the month, bitcoin, a prominent digital currency that is not backed by a government or central bank, traded at around $215. The spike in its price has some believing that it has become overvalued in a short period of time, owing to its limited supply and increasing demand.
"A narrow asset class and lots of liquidity is the perfect environment for a rapid burst up in value, and then corrections," said Sebastien Galy, a currency strategist at Societe Generale in New York.
Bitcoin trades 24 hours a day, every day. The supply of the currency, which is "mined" by solving math problems, is limited, and recently stood at 12 million bitcoins, worth about $12.9 billion at recent prices.
Bitcoin is not backed by physical assets and is not run by any person or group. Its value depends on people's confidence in the currency. It has been gaining acceptance by the general public and investment community but has yet to become an accepted form of payment on the websites of major retailers such as Amazon.com.
Earlier in the month, the U.S. Senate held a hearing on virtual currencies, with some officials expressing concern that it is notable for its use in criminal activity and that there is a lack of regulatory oversight.
But bitcoin advocates say last week's Senate hearing gave more legitimacy to the currency, in part fueling the gains.
"It isn't just the bitcoin community saying that bitcoin is used for good things and there's a lot of great potential. We have members of Congress and government agencies who all agree," said Jinyoung Lee Englund, spokeswoman for the Bitcoin Foundation in Washington.
Bitcoin is valued by many users for its anonymity. But government officials expressed concerns that many virtual currency services do not have the proper controls in place to prevent illegal activities such as money laundering.
"Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others and confused the heck out of the rest of us," Senator Thomas Carper told the Senate Homeland Security Committee earlier this month.
In October, federal authorities shut down an online marketplace called Silk Road that was used for purchasing drugs and hiring hit men. Authorities seized $3.6 million worth of bitcoin, which was used instead of cash or credit cards to complete transactions on Silk Road.
More than 200 bitcoin businesses and other merchants are participating in a bitcoin Black Friday shopping event, where users can buy everything from airplane tickets to Christmas trees to organic beer.
(Reporting by Wanfeng Zhou; Editing by Kenneth Barry and Krista Hughes) |
1,385,580,720 | 2013-11-27 19:32:00+00:00 | {"Bitcoin": [223, 511, 583, 678, 724, 799, 935, 1350, 1392, 1654, 1712, 1859, 2092, 2119, 2287, 2361, 2370, 2514, 2711, 3189, 3331, 3485, 4061, 4459, 4770, 4898]} | {"Bitcoin": [94]} | WHAT IS LITECOIN: Here's What You Need To Know About The Digital Currency Growing Faster Than Bitcoin | https://finance.yahoo.com/news/litecoin-heres-everything-know-digital-193238685.html | Business Insider | http://www.businessinsider.com/ | Noah Luis
Editor's note: We originally ran this piece Nov. 25. Since then, the price of Litecoin hasskyrocketedapproximately 400% to more than $25. We've updated it to reflect price changes.
At more than $900, the price of Bitcoin is now so great that it threatens to shut out some mainstream users.
You may be wondering whether there were ever any mainstream users in the first place. But Charlie Lee, a former Googler and MIT grad, recognized such an audience did exist. In 2011, two years after the birth of Bitcoin, the former Googler and MIT grad decided to create a version of Bitcoin that would make it more accessible.
He called it Litecoin.
"I think Satoshi [Nakamoto, Bitcoin's pseudonymous creator] is great, and Bitcoin is awesome," Lee said in a recent interview with BI. "I didn't fix Bitcoin. I just made small changes that made [Litecoin] a little bit better."
Litecoin is not the only digital currency to have mounted Bitcoin’s virtual coattails. Coinmarketcaplistsabout two-dozen ones who’ve seen their prices increase in the past few months. But Litecoin appears to be the first among these secondary equals, something reflected in its $670 million market cap — nearly 8x greater than the next largest currency, Peercoin.
If you're at all familiar with Litecoin, you've probably heard it described, by Lee or others, as "silver to Bitcoin's gold." But if you don't believe Bitcoin is worth much in the first place, that may mean nothing to you. So we asked Lee to elaborate, and he made a convincing case for where Litecoin will fit into the for-now expanding realm of digital currency.
"It's more abundant, and more lightweight" than Bitcoin, he says.
Here's what that means. Only 21 million Bitcoin will ever get created, and it's projected that won't occur until 2040. Although in theory this has no practical effect on its value if the Bitcoin economy truly takes off thanks to demand remaining consistent, that fixed amount will help keep prices elevated.
Lee designed Litecoin so that 84 million units would be created. And if the Litecoin economy scales up to where Bitcoin evangelists insist Bitcoin should be, the same pseudo-scarcity effect could someday be seen in Litecoin prices.
In addition, Litecoin is not subject to the“arms race”currently seen among Bitcoin miners looking to corner the market on acquiring large amounts of Bitcoin. Bitcoin is built aroundhash cryptographythat is supposed to get more complex — and thus require more expensive computing power to mine — as the Bitcoin economy expands and grows in value. But this has allowed individuals with more efficient computer chips — in other words, ones that require less electricity power to mine a given amount of Bitcoin — to get the jump on more conventional miners. Litecoin eliminates that advantage by using an entirely different cryptography program, called Scrypt, where the limiting factor is memory, not processing efficiency. That means you'd have to buy a greater quantity of computer hardware to beat the program, not just design a better chip.
“There will be less of a cartel of miners,” Lee says.
Finally, Lee says Litecoin transactions enjoy faster "confirmation" times. For a Bitcoin transaction to be completely processed, it must receive a number of confirmations from other users who've located the transfer on the Bitcoin's master ledger,the Blockchain. This usually takes about 10 minutes. That doesn't mean you have to wait around at a cash register if you're using Bitcoin to pay for groceries,as we have documented. But those transactions depend on temporary confirmations.
With Litecoin, Lee says, confirmations take just two-and-a-half minutes. So although the odds of a temporary confirmation not being confirmed on the Blockchain are minuscule, Litecoin eliminates the problem entirely.
So maybe it's better to understand Litecoin as "silver" in the medieval sense of the word: designed to be carried around in your virtual pocket for daily transactions. "If Litecoin truly succeeds, people will be using it for everyday purchases, and Bitcoin for large purposes," Lee says.
Digital currency users appear to have grasped Litecoin's utility relatively swiftly. It's now worth more than $25, a 400% gain in just a week.
Lee estimates Litecoin is about two years behind in both price and adoption. Right now the online retail outlets taking Litecoinare somewhat limited, though will surely grow with the price of Litecoin. But, he says, Bitcoin itself is still decades away from reaching its full potential.
"It's still in an inflationary stage," he says. "Once that stops, in 2040, that's when that's when things get interesting."
More From Business Insider
• There Are Dozens Of Digital Currencies That Are All Going Insane Right Now
• You Think Bitcoin Is On A Tear? Check Out How Much Litecoin Is Up In Just The Last Week
• There Is A 'Very Surprising' Connection Between Bitcoin's Creator And The Alleged Founder Of The Silk Road |
1,385,580,720 | 2013-11-27 19:32:00+00:00 | {"Bitcoin": [223, 511, 583, 678, 724, 799, 935, 1350, 1392, 1654, 1712, 1859, 2092, 2119, 2287, 2361, 2370, 2514, 2711, 3189, 3331, 3485, 4061, 4459, 4770, 4898]} | {"Bitcoin": [94]} | WHAT IS LITECOIN: Here's What You Need To Know About The Digital Currency Growing Faster Than Bitcoin | https://finance.yahoo.com/news/finance.yahoo.com/news/litecoin-heres-everything-know-digital-193238685.html | Business Insider | http://www.businessinsider.com/ | Noah Luis
Editor's note: We originally ran this piece Nov. 25. Since then, the price of Litecoin hasskyrocketedapproximately 400% to more than $25. We've updated it to reflect price changes.
At more than $900, the price of Bitcoin is now so great that it threatens to shut out some mainstream users.
You may be wondering whether there were ever any mainstream users in the first place. But Charlie Lee, a former Googler and MIT grad, recognized such an audience did exist. In 2011, two years after the birth of Bitcoin, the former Googler and MIT grad decided to create a version of Bitcoin that would make it more accessible.
He called it Litecoin.
"I think Satoshi [Nakamoto, Bitcoin's pseudonymous creator] is great, and Bitcoin is awesome," Lee said in a recent interview with BI. "I didn't fix Bitcoin. I just made small changes that made [Litecoin] a little bit better."
Litecoin is not the only digital currency to have mounted Bitcoin’s virtual coattails. Coinmarketcaplistsabout two-dozen ones who’ve seen their prices increase in the past few months. But Litecoin appears to be the first among these secondary equals, something reflected in its $670 million market cap — nearly 8x greater than the next largest currency, Peercoin.
If you're at all familiar with Litecoin, you've probably heard it described, by Lee or others, as "silver to Bitcoin's gold." But if you don't believe Bitcoin is worth much in the first place, that may mean nothing to you. So we asked Lee to elaborate, and he made a convincing case for where Litecoin will fit into the for-now expanding realm of digital currency.
"It's more abundant, and more lightweight" than Bitcoin, he says.
Here's what that means. Only 21 million Bitcoin will ever get created, and it's projected that won't occur until 2040. Although in theory this has no practical effect on its value if the Bitcoin economy truly takes off thanks to demand remaining consistent, that fixed amount will help keep prices elevated.
Lee designed Litecoin so that 84 million units would be created. And if the Litecoin economy scales up to where Bitcoin evangelists insist Bitcoin should be, the same pseudo-scarcity effect could someday be seen in Litecoin prices.
In addition, Litecoin is not subject to the“arms race”currently seen among Bitcoin miners looking to corner the market on acquiring large amounts of Bitcoin. Bitcoin is built aroundhash cryptographythat is supposed to get more complex — and thus require more expensive computing power to mine — as the Bitcoin economy expands and grows in value. But this has allowed individuals with more efficient computer chips — in other words, ones that require less electricity power to mine a given amount of Bitcoin — to get the jump on more conventional miners. Litecoin eliminates that advantage by using an entirely different cryptography program, called Scrypt, where the limiting factor is memory, not processing efficiency. That means you'd have to buy a greater quantity of computer hardware to beat the program, not just design a better chip.
“There will be less of a cartel of miners,” Lee says.
Finally, Lee says Litecoin transactions enjoy faster "confirmation" times. For a Bitcoin transaction to be completely processed, it must receive a number of confirmations from other users who've located the transfer on the Bitcoin's master ledger,the Blockchain. This usually takes about 10 minutes. That doesn't mean you have to wait around at a cash register if you're using Bitcoin to pay for groceries,as we have documented. But those transactions depend on temporary confirmations.
With Litecoin, Lee says, confirmations take just two-and-a-half minutes. So although the odds of a temporary confirmation not being confirmed on the Blockchain are minuscule, Litecoin eliminates the problem entirely.
So maybe it's better to understand Litecoin as "silver" in the medieval sense of the word: designed to be carried around in your virtual pocket for daily transactions. "If Litecoin truly succeeds, people will be using it for everyday purchases, and Bitcoin for large purposes," Lee says.
Digital currency users appear to have grasped Litecoin's utility relatively swiftly. It's now worth more than $25, a 400% gain in just a week.
Lee estimates Litecoin is about two years behind in both price and adoption. Right now the online retail outlets taking Litecoinare somewhat limited, though will surely grow with the price of Litecoin. But, he says, Bitcoin itself is still decades away from reaching its full potential.
"It's still in an inflationary stage," he says. "Once that stops, in 2040, that's when that's when things get interesting."
More From Business Insider
• There Are Dozens Of Digital Currencies That Are All Going Insane Right Now
• You Think Bitcoin Is On A Tear? Check Out How Much Litecoin Is Up In Just The Last Week
• There Is A 'Very Surprising' Connection Between Bitcoin's Creator And The Alleged Founder Of The Silk Road |
1,385,581,500 | 2013-11-27 19:45:00+00:00 | {"Bitcoin": [109, 347, 855, 931, 1092, 1217, 1557, 1714, 1763, 1787, 2110, 2184, 2682, 2922, 3014, 3183, 3220, 3334, 3652]} | {"Bitcoin": [27]} | Black Friday: A Chance for Bitcoin to Get Some Mainstream Love | https://finance.yahoo.com/news/black-friday-chance-bitcoin-mainstream-194500389.html | Entrepreneur | http://www.entrepreneur.com/ | By now, it's common knowledge that some people have made small (and, in some cases, not-so-small) fortunes onBitcoin. But even though U.S. regulators and lawmakers gave bitcoins a tentative thumbs up last week, and an increasing number of merchants are accepting them as legal tender, you still can't walk into most retailers and spend them.
EnterBitcoin Black Friday, designed to harness the indefatigable spirit of American consumerism to bring the world's most popular cryptocurrency into the mainstream. Shoppers will be able to spend their digital ducats this Friday not only on gift cards to Target, Banana Republic, Sears and other major retailers, but on airline tickets, Christmas trees, organic coffee, OK Cupid memberships, alcoholic beverages, Moroccan rugs and more.
More than 250 merchants are participating in the one-day shopportunity for Bitcoin users, a pumped-up version of a similar event launched last year by Bitcoin proponent Jon Holmquist. This year, Holmquist has teamed up with Internet activist group Fight for the Future to organize the event. Backers include the Bitcoin Investment Fund, Silicon Valley Angel and Ribbit Capital, who have helped with promotion and outreach to merchants.
"Bitcoin is at a very pivotal moment," Wilson says. "Since we feel like it's such an important and powerful technology, and something that could be really positive for the world, we think it's really important that it cross over and go mainstream as soon as possible. Because that's the moment when it becomes politically safe."
The goal of Bitcoin Black Friday is to speed things up that process, according to a media release.
Related:Trekking Into Space With Branson? You Can Now Pay Your Way in Bitcoins
Coinbase, one of the largest U.S.-based Bitcoin exchanges and a Bitcoin Black Friday sponsor, will bewaiving its transaction feeson Friday. The exchange, which has raised more than $6 million of investment capital from major Silicon Valley players, usually charges a 1-percent fee for buying and selling bitcoins.
The shopping event puts the lie, at least for 24 hours, to the claims of Bitcoin critics that the cryptocurrency isn't very useful. "You can't use Bitcoin for much today besides gambling in online casinos and reserving seats on Virgin Galactic spaceflights," former Gawker writerAdrian Chen saidTuesday in an opinion piece forThe New York Times. But in fact, to give just one example, you can buy the aforementioned gift cards with bitcoins on any day of the year through Gyft.com; the Black Friday deal simply provides a slight discount on the purchase price.
Even so, Chen is right to point out the "speculative greed" fueling much of today's Bitcoin trading. On Coinbase, the price of a single bitcoin is now close to $1,000, and the price has already reached quadruple digits on some exchanges. The crash, predicts Chen, will be great.
Wilson disagrees, though he admits that some Bitcoin traders are just out to make a quick buck. "What speculators are betting on is that Bitcoin will become widely used." And that, he says, "would be great for a number of reasons," among them the ability to avoid credit-card processing fees, a feature of Bitcoin which Chen acknowledges. "If Bitcoin succeeds, it's going to become the currency of the vast majority of online transactions," Wilson says.
If Bitcoin can gain mainstream respectability quickly enough by proving its usefulness to merchants and consumers, it may forestall the crash that some market watchers think is coming.
Related:Alleged Creator of Silk Road Detained Without Bail
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• Online Shoppers: Beware the 12 Scams of Christmas
• Bitcoin Breaks $1,000 for First Time Ever
• Huh? One Retailer Says Don't Buy Our Stuff on Black Friday |
1,385,584,688 | 2013-11-27 20:38:08+00:00 | {"Bitcoin": [0, 943, 1390, 2367]} | {"Bitcoin": [31]} | Will Better Technology Deflate Bitcoin Fever? | https://finance.yahoo.com/news/better-technology-deflate-bitcoin-fever-203808640.html | ETFguide | http://www.etfguide.com/ | Bitcoin has been called "electronic gold," "synthetic money" and a "crypto-currency." Big name investors, the public and startup companies have fueled bitcoin fever along with speculation about its future.
On Mt. Gox (no relation to Mt. Rushmore), the second largest digital currency exchange by volume, bitcoin prices topped $1,000. That's a ten-fold increase from April, when bitcoin prices broke $100. The S&P 500 (IVV-News) and Dow Jones Average (DIA-News) aren't the only benchmarks hitting all-time highs!
Blogger Phil Carney describes the mania this way:
"The bitcoin currency is decentralized therefore not controlled by any one person and so offers protection from the endless rounds of Central Bank money printing. This assists the promoters of bitcoin in peddling the fallacy that it offers a safe haven away from invasive government spying, and of course, those evil parasites they refer to as the 'banksters' (banker/gangsters)."
Bitcoin's Competition
If world governments can't dilute or deflate the value of bitcoin, is there anything else that can? The answer may surprise you.
Inventors of competing digital currencies are plentiful and are already seeking to dethrone bitcoin. And they may succeed.
The list of bitcoin competitors and alternatives grows by the week, here are just a few:
-Namecoin
-Litecoin
-PPCoin
-Betacoin
-AnonCoin
-PhenixCoin
-IxCoin
Moore's Law and Bitcoin
In 1965, Moore's law was introduced by Intel co-founder Gordon E. Moore to explain how in the technology world the number of transistors on integrated circuits doubles approximately every two years. Yet, despite the constant improvement in chip processing power, the cost of computer hardware has consistently decreased over time.
What's the point?
Although bitcoin's fan base calls it a "currency," referring to bitcoin as a technological solution is probably a more accurate description. And as technology improves, "the cost of a unit decreases exponentially over time," says Moore's law.
Think about it this way: If Moore's law has proven to be a reliable indicator in an established marketplace like semiconductors, what about the jungle-like world of techno-synthetic currencies?
Regardless, bitcoin is still being pitched as an alternative to the U.S. dollar (UUP-News) and even to long-established assets like gold (IAU-News) and silver (SLV-News).
In the end, Bitcoin's ultimate worth will be challenged by new and improved digital technologies that are faster, easier to use, and even more secure. Just wait.
TheETF Profit Strategy Newsletteruses technical, fundamental, and sentiment analysis along with market history and common sense to keep investors on the right side of the market. Since the beginning of the year, 74% of our weekly ETF picks have been winners. (through Q3 2013)
Follow us on Twittter @ETFguide
More From ETFguide.com
• Bearishness in the Right Places Pays Big Dividends
• Is Gold Headed to $1,000 per Ounce?
• The Two Month VIX Cycle |
1,385,584,688 | 2013-11-27 20:38:08+00:00 | {"Bitcoin": [0, 943, 1390, 2367]} | {"Bitcoin": [31]} | Will Better Technology Deflate Bitcoin Fever? | https://finance.yahoo.com/news/finance.yahoo.com/news/better-technology-deflate-bitcoin-fever-203808640.html | ETFguide | http://www.etfguide.com/ | Bitcoin has been called "electronic gold," "synthetic money" and a "crypto-currency." Big name investors, the public and startup companies have fueled bitcoin fever along with speculation about its future.
On Mt. Gox (no relation to Mt. Rushmore), the second largest digital currency exchange by volume, bitcoin prices topped $1,000. That's a ten-fold increase from April, when bitcoin prices broke $100. The S&P 500 (IVV-News) and Dow Jones Average (DIA-News) aren't the only benchmarks hitting all-time highs!
Blogger Phil Carney describes the mania this way:
"The bitcoin currency is decentralized therefore not controlled by any one person and so offers protection from the endless rounds of Central Bank money printing. This assists the promoters of bitcoin in peddling the fallacy that it offers a safe haven away from invasive government spying, and of course, those evil parasites they refer to as the 'banksters' (banker/gangsters)."
Bitcoin's Competition
If world governments can't dilute or deflate the value of bitcoin, is there anything else that can? The answer may surprise you.
Inventors of competing digital currencies are plentiful and are already seeking to dethrone bitcoin. And they may succeed.
The list of bitcoin competitors and alternatives grows by the week, here are just a few:
-Namecoin
-Litecoin
-PPCoin
-Betacoin
-AnonCoin
-PhenixCoin
-IxCoin
Moore's Law and Bitcoin
In 1965, Moore's law was introduced by Intel co-founder Gordon E. Moore to explain how in the technology world the number of transistors on integrated circuits doubles approximately every two years. Yet, despite the constant improvement in chip processing power, the cost of computer hardware has consistently decreased over time.
What's the point?
Although bitcoin's fan base calls it a "currency," referring to bitcoin as a technological solution is probably a more accurate description. And as technology improves, "the cost of a unit decreases exponentially over time," says Moore's law.
Think about it this way: If Moore's law has proven to be a reliable indicator in an established marketplace like semiconductors, what about the jungle-like world of techno-synthetic currencies?
Regardless, bitcoin is still being pitched as an alternative to the U.S. dollar (UUP-News) and even to long-established assets like gold (IAU-News) and silver (SLV-News).
In the end, Bitcoin's ultimate worth will be challenged by new and improved digital technologies that are faster, easier to use, and even more secure. Just wait.
TheETF Profit Strategy Newsletteruses technical, fundamental, and sentiment analysis along with market history and common sense to keep investors on the right side of the market. Since the beginning of the year, 74% of our weekly ETF picks have been winners. (through Q3 2013)
Follow us on Twittter @ETFguide
More From ETFguide.com
• Bearishness in the Right Places Pays Big Dividends
• Is Gold Headed to $1,000 per Ounce?
• The Two Month VIX Cycle |
1,385,586,000 | 2013-11-27 21:00:00+00:00 | {"Bitcoin": [2346, 2615]} | {} | STOCKS EDGE HIGHER: Here's What You Need To Know | https://finance.yahoo.com/news/stocks-edge-higher-heres-know-210006695.html | Business Insider | http://www.businessinsider.com/ | china man on coals REUTERS A man sweeps burning charcoal as he participates in the traditional ritual called "Lianhuo", or "fire walking," in Pan'an county, Zhejiang province Nov. 25, 2013. Stocks inched north on a busy day of economic data ahead of the holiday. First, the scoreboard: Dow : 16,097.20 (+24.40, 0.15%) S&P 500 : 1,807.23 (+4.48, 0.25%) NASDAQ: 4,044.75 (+27.00, 0.67%) And now the top stories: The November purchasing manager's index for the ISM's Chicago division hit 63 . The better than expected print marked a two-year high. “Having kept inventories lean for so long, a pick-up in demand has led to a sharp rise in stock building among the companies in our panel. And to handle the latest production and new orders boost, companies are hiring at the fastest pace for two years,” MNI chief economist Philip Uglow said. Initial jobless claims fell to 316,000 , better than the 330,000 economists had expected. Last week's 323,000 print was revised up to 326,000 as well. "We believe that the timing of the Thanksgiving holiday is likely a contributing factor behind the unexpected decline in initial jobless claims this week. According to MNI, the Labor Department cited no unusual readings in the state level data, but also noted that the combination of the Veterans Day holiday last week plus the later-than-normal Thanksgiving holiday makes it more difficult to properly seasonally adjust the data," wrote Barclays' Michael Gapen. Durable goods orders dropped by 2.0% in October. Excluding transportation, orders fell 0.1%, missing expectations for a 0.5% gain. "The continuing slump in US non-defencs capital goods (ex. aircraft) orders and shipments suggests that business equipment investment contracted over the entire second half of this year," Capital Economics Paul Ashworth wrote clients. "The survey evidence on capex intentions has been pointing to a rebound in equipment investment for some time now, but it just isn't coming through in the actual hard data." The University of Michigan Consumer Confidence measure jumped to 75.1 in November , beating economist expectations for 73.1. "W e expect improvement in housing and labor markets to keep confidence on a broadly upward trend in the medium term despite the risks from further negative policy shocks," Barclays' Cooper Howes wrote clients after the release. Bitcoin, everyone's favorite digital currency, hit $1,000 today on the Mt. Gox exchange. Demand from China has helped boost the price this month. Cryptocurrencies in general have been getting more attention lately , so check out our profile of Litecoin ("the silver to Bitcoin's gold"). The Italian Senate voted to strip Silvio Berlusconi of his seat after his August conviction for tax fraud, thus removing his parliamentary immunity from being arrested as a case unfolds. Don't Miss: GOLDMAN: Here Are 25 Stocks That Hedge Funds Are Shorting Like Crazy » More From Business Insider STOCKS FALL AFTER NASDAQ HITS 4,000: Here's What You Need To Know STOCKS RALLY TO RECORD HIGH: Here's What You Need To Know STOCKS RISE: Here's What You Need To Know |
1,385,654,340 | 2013-11-28 15:59:00+00:00 | {"Bitcoin": [2322]} | {} | Pizza Hut Offers Fired Manager His Job Back After He Refused To Open On Thanksgiving | https://finance.yahoo.com/news/pizza-hut-offers-fired-manager-155954639.html | Business Insider | http://www.businessinsider.com/ | CNN
Tony Rohr
Pizza Hut has offered to re-hire the general manager of their Elkhart, Ind. franchise two days after he claims he wasfired for refusing to open the store on Thanksgiving.
In a statement provided to Business Insider, the chain says the situation "could and should have been avoided" while claiming they worked with the Elkhart franchisee to reinstate manager Tony Rohr.
Here's their full statement:
"As follow up to the situation in Elkhart, IN, we feel strongly that the situation involving our independent franchisee and the local store manager could and should have been avoided. We fully respect an employee’s right to not work on a holiday, which is why the vast majority of Pizza Huts in America are closed on Thanksgiving. As a result, we strongly recommended that the local franchisee reinstate the store manager and they have agreed. We look forward to them welcoming Tony back to the team."
Rohr, who started out at the pizza chain as a cook before working his way up to general manager, confronted his superiors after being told the store would need to be open on Thanksgiving.
In years past, Rohr said, Pizza Hut stores had been closed on Thanksgiving and Christmas,according toFox 8. His bosses told him to tender his resignation, but he wrote a scathing letter instead.
"I am not quitting. I do not resign, however I accept that the refusal to comply with this greedy, immoral request means the end of my tenure with this company," Rohr wrote, according to WSBT. " ... I hope you realize that it's the people at the bottom of the totem pole that make your life possible."
The company endured afierce backlash on their official Facebook page, with some calling the chain "greedy" and threatening to never eat there again.
One of Rohr's bosses claimed that he quit, and being open on Thanksgiving wasn't an individual's decision — it was a company decision, according to WSBT. Pizza Hut's corporate officetoldCNN the franchise "made a serious error in judgment."
It was unclear whether Rohr would take his old job back,accordingto CNN.
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1,385,659,498 | 2013-11-28 17:24:58+00:00 | {"Bitcoin": [3630]} | {} | Here's What 'No Animals Were Harmed' REALLY Means | https://finance.yahoo.com/news/heres-no-animals-were-harmed-172458681.html | Business Insider | http://www.businessinsider.com/ | HBO
Many people heard that filming of the HBO series "Luck" was canceled when four horses died.
The Hollywood Reporter just published a stunning investigationsuggesting this is just the tip of the iceberg of animal abuses occurring in the film world.
The American Humane Association (AHA) is the group that watches over animal welfare and awards films and TV shows the "no animals were harmed" moniker. They send representatives to watch over filming of movies and TV shows.
While the AHA once played a huge role in making Hollywood safer for animals, many recent incidents suggest that their work today in inadequate. Even those within the AHA who spoke to the Hollywood Reporter have lost hope in their role.
But the problem, according to the article, is that the AHA's flexible application of the "no animals were harmed" credit leaves plenty of animals harmed. Notably, the credit doesn't apply during hiatuses in filming, when the harm wasn't intentional, or if the harm happened when the cameras aren't recording.
Here are some allegationsmade in the investigative report:
• During New Zealand filming of Peter Jackson's "The Hobbit: An Unexpected Journey," 27 animals reportedly perished. According to the Hollywood Reporter, sheep and goats died from dehydration and drowning during a filming hiatus.
• A trainer punched a Huskydog repeatedlyin its diaphragm on Disney’s 2006 Antarctic sledding movie "Eight Below," starring Paul Walker, after the dogs got into a fight on set.
• Achipmunk was fatally (and accidentally) squashedduring the production of Paramount’s 2006 "Failure to Launch."
• Potentially because crew members on Disney's "Pirates of the Caribbean: The Curse of the Black Pearl" had taken no precautions to protect marine life when setting off special-effects explosions in the ocean,dozens of dead fish and squidwashed up on shore for days.
• In March, a 5-foot-long shark died after being placed in a small inflatable pool during a Kmart commercial shoot in Van Nuys.
• Two horses died during the filming of Fox's "Flicka," which the AHA claims were accidents. This film didn't get a "no animals were harmed" credit but a credit that said the "American Humane Association monitored the animal action." So now you know what that means.
• In 2010 during the filming of the Hallmark Channel's "Everlasting Courage," a horse named Glass was fatally injured when he was stabbed by a small broken part of a runaway wagon. He was euthanized. [See the somewhatdisturbing injury on Glass's leg]
• Four horses died during the Luck filming's between 2010 and 2012Read the full story on Luck here »
• During the filming of "The Chronicles of Narnia: Prince Caspian," many horses were removed from production because of injuries – up to 14 at one time. But, the production recieved a "No Animals Were Harmed" disclaimer.
• A report on equine performers from 2001 to 2006 concluded that 82 horses had been adversely affected while working on sets during this period, including 58 injuries and eight deaths (from things like a "collision with camera car," "stepped on lead rope," and "impalement").
• Multiple horses died from colic (potentially triggered by heatstroke) on the set of "There Will Be Blood" from Paramount Vantage. The AHA gave the film a modified end credit that stated that they "monitored the animal action.”
ReadAnimals Were Harmed at the Hollywood Reporter »
More From Business Insider
• Here's What 'No Animals Were Harmed' REALLY Means
• Gap's Response To Racist Graffiti On A Subway Ad Was Perfect
• WHAT IS LITECOIN: Here's What You Need To Know About The Digital Currency Growing Faster Than Bitcoin |
1,385,659,498 | 2013-11-28 17:24:58+00:00 | {"Bitcoin": [3630]} | {} | Here's What 'No Animals Were Harmed' REALLY Means | https://finance.yahoo.com/news/finance.yahoo.com/news/heres-no-animals-were-harmed-172458681.html | Business Insider | http://www.businessinsider.com/ | HBO
Many people heard that filming of the HBO series "Luck" was canceled when four horses died.
The Hollywood Reporter just published a stunning investigationsuggesting this is just the tip of the iceberg of animal abuses occurring in the film world.
The American Humane Association (AHA) is the group that watches over animal welfare and awards films and TV shows the "no animals were harmed" moniker. They send representatives to watch over filming of movies and TV shows.
While the AHA once played a huge role in making Hollywood safer for animals, many recent incidents suggest that their work today in inadequate. Even those within the AHA who spoke to the Hollywood Reporter have lost hope in their role.
But the problem, according to the article, is that the AHA's flexible application of the "no animals were harmed" credit leaves plenty of animals harmed. Notably, the credit doesn't apply during hiatuses in filming, when the harm wasn't intentional, or if the harm happened when the cameras aren't recording.
Here are some allegationsmade in the investigative report:
• During New Zealand filming of Peter Jackson's "The Hobbit: An Unexpected Journey," 27 animals reportedly perished. According to the Hollywood Reporter, sheep and goats died from dehydration and drowning during a filming hiatus.
• A trainer punched a Huskydog repeatedlyin its diaphragm on Disney’s 2006 Antarctic sledding movie "Eight Below," starring Paul Walker, after the dogs got into a fight on set.
• Achipmunk was fatally (and accidentally) squashedduring the production of Paramount’s 2006 "Failure to Launch."
• Potentially because crew members on Disney's "Pirates of the Caribbean: The Curse of the Black Pearl" had taken no precautions to protect marine life when setting off special-effects explosions in the ocean,dozens of dead fish and squidwashed up on shore for days.
• In March, a 5-foot-long shark died after being placed in a small inflatable pool during a Kmart commercial shoot in Van Nuys.
• Two horses died during the filming of Fox's "Flicka," which the AHA claims were accidents. This film didn't get a "no animals were harmed" credit but a credit that said the "American Humane Association monitored the animal action." So now you know what that means.
• In 2010 during the filming of the Hallmark Channel's "Everlasting Courage," a horse named Glass was fatally injured when he was stabbed by a small broken part of a runaway wagon. He was euthanized. [See the somewhatdisturbing injury on Glass's leg]
• Four horses died during the Luck filming's between 2010 and 2012Read the full story on Luck here »
• During the filming of "The Chronicles of Narnia: Prince Caspian," many horses were removed from production because of injuries – up to 14 at one time. But, the production recieved a "No Animals Were Harmed" disclaimer.
• A report on equine performers from 2001 to 2006 concluded that 82 horses had been adversely affected while working on sets during this period, including 58 injuries and eight deaths (from things like a "collision with camera car," "stepped on lead rope," and "impalement").
• Multiple horses died from colic (potentially triggered by heatstroke) on the set of "There Will Be Blood" from Paramount Vantage. The AHA gave the film a modified end credit that stated that they "monitored the animal action.”
ReadAnimals Were Harmed at the Hollywood Reporter »
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1,385,665,320 | 2013-11-28 19:02:00+00:00 | {"Bitcoin": [11975]} | {} | Stocks, Sassafras, and Standish: The Corporate History Of America's First Settlers | https://finance.yahoo.com/news/america-first-colonists-were-profit-190200018.html | Business Insider | http://www.businessinsider.com/ | en.wikipedia.org
Virginea Pars map, including Roanoke Island, drawn by John White during his initial visit in 1585.
England’s first colonies in the New World were profit-seeking corporations, and like any wave of firms entering a radically new sector, it took some flameouts and consolidation for what might be called England's America industry to really get off the ground.
Born at the same moment, the Virginia Companies of London and Plymouth would come to know radically different fates. The former struggled mightily for nearly a decade before flaming out. The Plymouth company would help make the Pilgrims' story possible. It would take a third company backed by investors with entirely different motives than the first two to make America work .
--You’ll recall fromour profile of the British East India Company last yearthat many colonies were founded not by governments themselves but rather by private individuals who raised funds to finance expeditions.This concept lies at the root of the word adventure. Sometimes they would form joint stock companies, which would finance expeditions to prospective lands with the hope of splitting up whatever commerce they were able to drum up on the other side of the sea.
The first two English adventurers to attempt to make it in America were Sir Walter Raleigh and his half brother Humphrey Gilbert. We can get a sense of their motivations fromthe following account, dated 1583 — 37 years before the pilgrims — from Captain Edward Hayes, who commanded one of Gilbert’s ships back from Newfoundland, site of the first-ever English colony in America:
…although we cannot precisely judge (which only belongeth to God) what have been the humours of men stirred up to great attempts of discovering and planting in those remote countries, yet the events do shew that either God's cause hath not been chiefly preferred by them, or else God hath not permitted so abundant grace as the light of His word and knowledge of Him to be yet revealed unto those infidels before the appointed time.
Yeah. God and money don’t mix so good.
The 1584 chartergranted by Queen Elizabeth to Raleigh to settle America, which Raleigh called "Virginia," further emphasizes this. It basically says: go over there and do what you want, it’s all yours. There’s nothing in the document about religion, or even claiming the land in the name of England (though that is implied).
You may know what happened next: Over the next three years, Raleigh financed expeditions to set up a beachhead settlement on Roanoake Island, on modern-day North Carolina’s Outer Banks. But some time between 1587 and 1590, the entire colony vanished. You can read about some of the theories whyhere, but it probably ended in terror: the only clues left at the site were the words “CRO” and “CROATOAN” carved into a tree and post, indicating the presence of Native Americans. This failure plays into the legend of the divine providence we now say was accorded from on high to the pilgrims.
Raleigh ended up taking a 40,000-pound loss on the enterprise, and it would be more than a decade before an Englishman got the idea to try the enterprise again.
In the meantime, the Earl of Southampton, best known as a quasi-muse of William Shakespeare, put together funds for a series of voyages that would again to tap into American natural resources. This technically violated the charter given to Raleigh, though he did not realize what had occurreduntil the price of London-traded sassafras suddenly dropped in the summer of 1602.
The sallies had the effect of re-energizing interest in American projects, and in 1606, two groups of investors, one from London, the other from Plymouth and other parts of western England petitioned King James for charters. The King dutifully stamped out a charter granting rights to two separate colonies. You can see the text of the charterhere. But the colonies’ purpose was clear: “dig, mine, and search for all Manner of Mines of Gold, Silver, and Copper.” George Cawston, an early 20th century American historian who studied the early colonies writes about Virginia’s first settlers as if they were employees. “No privileges were yet granted to the settlers, who were thus left at the mercy of the Governor, himself the agent of a soulless corporation whose main object was gain.”
So on May 14, 1607, England’s second attempt at a full-time colony in the modern U.S. commenced when 104 men and boys landed at Jamestown, Virginia. Right away hostility from the locals and greedy settlers threatened to tank the enterprise.
But from Jamestown we get the legend of John Smith, whom historians now consider as much masterful salesman as courageous Englishman, because on his return trip to England he convinced London’s financiers to keep investing in America. Thus, in 1609, the first American joint stock company was formed: The Treasurer and Company of Planters of the City of London for the First Colony in Virginia, or, simply The London Company.
We get our next account from historian Robert Rudolph. To attract demand for the company's stock, the earliest subscribers were promised large tracts of land, and if you hazarded to "adventure your person" you'd get a 100-acre plot on the other side, guaranteed. Plus, you names would be officially added to the charter, something your descendants might appreciate.The original share price was £12.10, about £2,600 in 2013. In May 1609, an eight-ship voyage set sale for Jamestown.
But by that point, John Smith was still nursing a severe leg injury sustained whenfrom nearly accidentally having his legs blown off, and evidently no one else was up to the task of glossing over the jungle-like conditions of Virginia in the summer. So as voyages returned “laden with nothing but bad reports,” interest in the America project flagged, and subscribers began defaulting.
As a result, the company’s operations in Virginia began to founder. The company tried borrowing money to stay alive as a going concern. In 1610, it got a loan for an expedition led by Lord de la Warr (Sound familiar?Say it out loud…) to turn its investments around. As Governor, de la Warr proved an able leader, but he died at sea in 1618. In a last-ditch effort, company officials enticed skilled Italian and Polish workers to settle in the South, and turned to tobacco as a cash crop. It didn’t work. The company failed to issue a “dividend” until 1616 — and it came in the form of land, not cash! By 1624, King James had seen enough and revoked the company’s charter. The crown assumed full control of the plantations the company had established in southern Virginia.
For a successful English colony to take hold, more than greed would be required.
--
The rights to the Plymouth colony — the second half of the original 1607 American charter — had lain dormant since soon after they were first issued, when an attempt to settle an area near present-day Bath, Maine failed.
In 1620, having fled to the Netherlands but still in search of a new permanent home, the Pilgrims saw an opportunity. They lobbied a firm in London called the Merchant Adventurers to finance a voyage to America. The Merchant Adventurers paid the passage in exchange for a seven-year labor contract with the company, though the Pilgrims were also guaranteed some equity. (The religious tolerance demonstrated by company officials is no small matter.)As the New York Times' Kate Zernicke wrote last year:
Historians say that the settlers in Plymouth, and their supporters in England, did indeed agree to hold their property in common — William Bradford, the governor, referred to it in his writings as the “common course.” But the plan was in the interest of realizing a profit sooner, and was only intended for the short term; historians say the Pilgrims were more like shareholders in an early corporation...
“It was directed ultimately to private profit,” said Richard Pickering, a historian of early America and the deputy director ofPlimoth Plantation, a museum devoted to keeping the Pilgrims’ story alive.
The Pilgrims ended up at the point we know today as Plymouth but lacked a license to settle there. So they asked the Merchant Adventurers to sign a contract on their behalf with a man named Sir Ferdinando Gorges, who’d secured the dormant Plymouth rights and was in the process of rechartering the company under the name "The Council established at Plymouth, in the County of Devon, for the Planting, Ruling, Ordering, and Governing of New England,' to settle large swaths of land in “New Plymouth.”
As Caleb Johnson, a member of the General Society of Mayflower Descendants,writes:
The Mayflower Compact was a "quick fix", but even the Pilgrims knew they would need the [authority] of the English government behind them if they wanted to continue living at Plymouth. When news from Plymouth returned to England in May, 1620 along with theMayflower, the Merchant Adventurers led by John Peirce went to the Council of New England to get the Pilgrims the rights to live and establish a government of their own at Plymouth. The result was the 1621 Pierce Patent, which in a sense supersedes the Mayflower Compact.
As at Jamestown, difficulties initially surfaced in and around Plymouth. The Council got a bit overzealous in issuing commercial charters to individual English merchants, and Bradford would go on to complain of lazy and incompetent settler neighbors. You can see the outlays of the land grants, and how the pilgrims basically subleased Gorges' territory (they're not formally listed anywhere).
Council For New England
Some of these men got into the habit of swindling American Indians. This, in turn, led the Indians to deem all settlers enemies, and the resulting ill will never really dissipated. These merchants also sought to hedge the small margins they were realizing by drastically overcharging the pilgrims for the basic goods they needed.
“But by thrift and industry,” George Cawston writes, the pilgrims triumphed. By 1627, they'd accumulated enough wealth that a group led by Myles Standish could buy out the Merchants' stake in Plymouth. The Pilgrims formed a government and until 1640 elected their own governor.
So the Pilgrims were more successful than the Jamestowners, and that's why we know them today. However, never numbering more than several hundred — and eschewing any form of financial enterprise — they ultimately lacked the means of getting America itself off the ground.
That distinction would fall to the Massachusetts Bay Company, established in 1627 by a group of wealthy investors from western England known as Puritans. Their religious views were not quite as radical as the austere Pilgrims', but a crackdown on non-conformists in England shifted the organization's focus from profit-seeking to something else,according to Robert Brennan:
"The political crisis of the later 1620s and the sudden determination of large numbers of Puritans to leave England forced the company to concentrate almost totally on the foundation of a haven for victims of religio-political persecution."
The combination the wealth of the companies' backers, along with a more sustained wave of settlers fleeing intolerance, allowed the Massachusetts Bay Company's to become England's first large-scale successful American colony. Eventually they absorbed Plymouth colony. We know the rest of the story from there.
One final note: although the Massachusetts Bay Company became successful, it was not America'smostsuccessful company. That distinction belonged to the Dutch West India Company, a nationalized corporation set up by the Netherlands government, which between 1624 and 1664 set up a thriving trading hub at the mouth of the Hudson called New Amsterdam ...
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1,385,696,704 | 2013-11-29 03:45:04+00:00 | {"Bitcoin": [12, 83, 305, 428, 554, 1336, 2383, 2657, 2722, 2761]} | {"Bitcoin": [10, 57]} | ZeroBlock Bitcoin App Now Available on Android Devices - Bitcoin Market Data And News | https://finance.yahoo.com/news/zeroblock-bitcoin-app-now-available-034504332.html | null | https://guce.yahoo.com/terms?locale=en-US | The popular Bitcoin iOS App integrating real time market data and news for serious Bitcoiners is now available on Android.
November 28th, 2013 /MarketersMedia/ -- ZeroBlock today announced the launch of their Android app, which was previously exclusive to iOS devices. ZeroBlock, which combines real time Bitcoin market data with an aggregated news feed, gives users a platform for instant access to everything happening on the Bitcoin market in real time. Since the company`s launch in May 2013, ZeroBlock has become the highest rated and most reviewed Bitcoin-related app in Apple`s app store.
ZeroBlock recently broke 1,000,000 total app sessions and in recent weeks has been opened 30,000 - 50,000 times daily by users. ZeroBlock`s news aggregator scrapes from over 130 sources including reddit, bitcointalk forums, company blogs, mainstream news, and exchange blogs. Real time price quotes are provided from BitStamp, Mt.Gox, Btc-e, btcchina, and Coinbase. Blockchain information is provided from the popular wallet service, blockchain.info. Other features provided on the app include a personal holdings calculator, Clark Moody charts, and the ability to share news feed articles via Facebook, Twitter, and e-mail.
ZeroBlock`s co-founders, Dan Held and Kevin Johnson, built the app out of their frustration in keeping up with the Bitcoin markets on their mobile devices. During the April price spike, they had difficulty finding mobile apps that would display the live price and relevant news feeds. So they decided to create exactly what they wanted. They built an app from scratch that would emphasize simplicity, usability, and aesthetics. Read a few reviews and you`ll see the type of dedicated fan base they have. Dan Held, "I wanted to keep a strong focus on bringing simplicity to complexity, maximizing the data to pixel ratio" said Held, on his thought process when designing the app. "I implemented the first x/y spatial layout for a mobile app. Utilizing the x/y screen layout, the user can swipe up, down, left and right from the main landing screen. The screen layout is similar to a plus sign. No hidden menu`s or unnecessary swipes. An intuitive design for an intuitive currency." They were able to iterate quickly due to Johnson`s strong mobile development background. Johnson is also the head of mobile development at Ripple Labs.
The ZeroBlock team takes the Bitcoin mobile experience to the next level as they constantly iterate, keeping the app relevant and accurate. The company`s next goal is to add more charts, data analytics, and article feeds. And in the horizon, they hope to build a tablet version for their most dedicated Bitcoiner fans. ZeroBlock continues to strive to be the only app Bitcoin users need to keep up with the Bitcoin markets.
To learn more about ZeroBlock, please visit:Download ZeroBlock on iOS:https://itunes.apple.com/us/app/zeroblock/id643184018?mt=8
Download ZeroBlock on Android:https://play.google.com/store/apps/details?id=com.phlint.android.zeroblock&hl=en
Visithttp://www.zeroblock.com/for more information.
Contact InfoName: Dan Held, Co-Founder, ZeroBlockOrganization: ZeroBlockEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1746544 |
1,385,696,940 | 2013-11-29 03:49:00+00:00 | {"Bitcoin": [0, 273, 360, 424, 519, 632, 790, 2732, 2994, 3576]} | {"Bitcoin": [22]} | Fair, Rare and Fast - Bitcoin Alternative Franko's Value Shoots up Over 500% in One Week | https://finance.yahoo.com/news/fair-rare-fast-bitcoin-alternative-034801544.html | null | https://guce.yahoo.com/terms?locale=en-US | Bitcoin alternative Franko (FRK) is making waves in the digital currency space; experiencing a huge value increase with price shooting up over 500% in the last week.
November 28th, 2013 /MarketersMedia/ -- In May 2013 new digital currency Franko (FRK) was announced on the Bitcointalk forum; an open source blockchain based digital cryptocurrency based on the Bitcoin protocol - designed to be fairer, faster and rarer than Bitcoin. The Franko protocol has a blockchain speed of just 30 seconds - ten times faster than Bitcoin. Franko has over 15 merchants accepting it as a payment method, and the currency is currently traded for Bitcoin on digital currency exchanges Cryptsy and Coins-E. As of the time of writing, 1 Franko (FRK) is currently trading for $1.37 USD per FRK equivalent in Bitcoin: this is an increase of over 500% in just a week. The project has an extremely active dev team and community: there is a Franko paper wallet and clients for Mac, Windows and Linux.
Franko has a diverse, robust and ever growing ecosystem; with an increasing number of FRK exchanges and services opening for business. Franko can be traded on Cryptsy and Coins-E, and users can purchase steam games, lotto tickets, web design, marketing, private investigators and more with their FRK. A neutral group of dedicated cryptocoin developers, merchants and members have banded together to form The Franko Collective. The Franko Collective includes many top developers in digital currency; committed to making the crypto community a safer, more profitable place for all. In addition, The Franko Collective does important charitable work, supporting causes like Folding@Home and CureCoin with direct contributions.
Franko was created by Christopher Franko, a 27 year old software developer living in Eastern North Carolina. Christopher Franko has been developing software for over 13 years and loves what he does. He has worked on many projects ranging from automation technologies, to a social network for poetry, to successfully developing software to migrate sensitive medical documents to a new more efficient system. After years of researching and gaining a profound understanding of the underlying protocol, Christopher realized he had the tools needed to help the world achieve financial freedom and thus Franko was born. When asked why he developed Franko he replied "I developed Franko because, at the time, I wasn`t satisfied enough with the alternatives being offered and felt like the world needed something more fair, more rare, and a lot faster. Waiting an hour to make a purchase wasn`t going to cut it."
With a blocktime speed of just 30 seconds Frankois certainly fast: with transactions confirming twenty times faster than the Bitcoin protocol. Being fair is also intrinsic to Franko`s design: Franko`s block reward of 0.25 FRK halves approximately every 44 years. This ensures that many people can begin to hold FRK before the next block halving. As of the 24th of November 2013, for now Bitcoin is trading steady at over $800 USD a piece, while early adopters can still secure Fanko for $1.37 at any of the major exchanges currently supporting Franko trading. This is a phenomenal increase in value of over 500% in just a week. Rarity is also intrinsic to the Franko protocol - with each block only yielding 0.25 FRK total. This ensures that Franko should retain and improve significantly in value over time.
With its unique founding principals of being fair, fast and rare, Franko is a wise choice for those looking to explore other emerging digital currencies beyond Bitcoin. Disruptive digital currencies are on the verge of a breakout, and it is coins like Franko, with its dedicated dev team and robust ecosystem, which are well positioned to bring huge benefits to both investors and end users.
Digital Currency exchanges where Franko (FRK) can be traded:-http://cryptsy.com-https://www.coins-e.com
Visithttp://www.frankos.org/for more information.
Contact InfoName: Christopher FrankoOrganization: FrankoEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1746545 |
1,385,712,004 | 2013-11-29 08:00:04+00:00 | {"Bitcoin": [93, 236, 327, 702, 714, 868, 948, 1380, 1431, 1486, 1703, 1740, 1876, 2097, 2196, 2255, 2324, 2423]} | {"Bitcoin": [43]} | The First Online Jewellery Store To Accept Bitcoin As a Payment Method - SallyMetHarry.com | https://finance.yahoo.com/news/first-online-jewellery-store-accept-080004385.html | null | https://guce.yahoo.com/terms?locale=en-US | UK based SallyMetHarry.com is now shipping jewellery and accessories worldwide in return for Bitcoin.
November 28th, 2013 /MarketersMedia/ -- In November 2013 UK based online jewellery storeSallyMetHarry.comannounced they are accepting Bitcoin as a payment method in their checkout; utilising the merchant friendly features of Bitcoin and taking a bold step towards embracing the future of money.
SallyMetHarry have a wide array of contemporary and classic crystal jewellery on offer to suit any occasion from evening glitz and glamour to day time chic. Most of the pieces are made from Austrian crystal or Swarvoski Elements. Necklaces, bracelets, earrings and rings are all available in exchange for Bitcoin.
As Bitcoin continues to explode in popularity throughout the UK, SallyMetHarry is riding this wave to become the first jewellery e-commerce outlet to accept Bitcoin and ship products worldwide.
SallyMetHarry believes in the potential of Bitcoin and how it can redefine the way they all transact online: "We believe in the power of crypo-currencies and the positive changes it can have on our society. People need to be able to not only buy the currency but have places to start spending it to encourage its usability", said John Durcan, Founder ofSallyMetHarry.com
This is indeed the case as several retail outlets in the UK are now opening up to the idea of accepting Bitcoin as a payment system; they are going to see Bitcoin`s popularity explode in the coming years. With Bitcoin trading exploding in recent times, the retail acceptance rate has been lagging behind. Retailers like SallyMetHarry are at the forefront of this paradigm shift of anyone being able to buy anything online with Bitcoin.
The rapid price increase in Bitcoin in the last few months has caught the imagination of the media and general public once again. As more and more people enter the Bitcoin economy, they find that there are only so many places they can spend their new-found wealth on. Retailers like SallyMetHarry, with their huge selection of jewellery which can be purchased by anyone worldwide with Bitcoin, are changing that - providing more avenues for crypto-currency enthusiasts to spend their Bitcoin on real world goods. With their easy and automatic Bitcoin payment checkout, their huge range of jewellery on offer for Bitcoin, and their worldwide shipping - SallyMetHarry are well positioned to benefit as the latest Bitcoin gold rush continues unabated.
Visithttp://sallymetharry.comfor more information.
Contact InfoName: John DurcanOrganization: SallyMetHarryEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1746572 |
1,416,973,020 | 2014-11-26 03:37:00+00:00 | {"Bitcoin": [17, 169, 318, 628, 860, 879, 1382, 1586, 1828, 1893, 2052, 2134, 2244, 2679, 2808]} | {"Bitcoin": [5]} | Huge Bitcoin Marketplace OneWallet.io Launches With Wide Range of Products | https://finance.yahoo.com/news/huge-bitcoin-marketplace-onewallet-io-033700814.html | ACCESSWIRE | https://www.accesswire.com/ | CoinsForTech - a Bitcoin company that has processed over $600 000 USD of cryptocurrency transactions - has just announced the launch of their new online marketplace and Bitcoin wallet: OneWallet.io.
Australia / ACCESSWIRE / November 25, 2014 /Australian based CoinsForTech haslaunched a remarkable shopping portal for Bitcoin users just in time for the Christmas holidays. An impressive amount of merchants have registered for the platform with most touting worldwide shipping and ultra-competitive pricing. Over 600 products are already available for purchase, ranging from electronics, fragrances, clothing, make-up, watches, Bitcoin miners and much more.
The marketplace,OneWallet.io, boasts a similar business model to eBay and was created with the belief that buying and selling could be improved using a global, non-discriminatory payment system such as Bitcoin:
"By using Bitcoin as the medium, we are significantly lowering the cost of trading internationally," said Lee Marburg, founder of OneWallet and CoinsForTech. "Our marketplace allows for buyers and sellers across the world to transact without worrying about exorbitant currency conversion costs or lengthy transaction times."
OneWallet is closely tied toCoinsForTech, an electronics store which has processed over $500,000 worth of cryptocurrency orders to 56 countries. The founders quickly realized the power of Bitcoin combined with ecommerce and have built a platform specifically to boost this form of trade.
The OneWallet marketplace offers an opportunity for 3rd party sellers to capitalize on the ever-growing Bitcoin economy.It's free to list goods for sale on the marketplace, with just a 2% fee is payable if the product successfully sells. Merchants can choose to auction their goods or list them at a fixed price.
It has never been easier to earn Bitcoin by selling goods or services. Each registered user has a Bitcoin wallet generated for them, though they are not required to use this wallet when buying or selling on the marketplace. The integrated wallet allows for Bitcoin-beginners to sell goods and receive payment with minimal knowledge of the Bitcoin ecosystem.OneWallet aims to provide a relatively hands-off method for beginners to become involved in Bitcoin, as well as an avenue for them to spend it on popular goods and services.
Comprehensive buyer protection is provided to all purchases from BusinessVerified merchants. OneWallet will ensure that the BusinessVerified merchant fulfils their end of the deal and refund the customer's money in full if they do not. With over 500 products listed by BusinessVerified sellers anyone can shop with confidence on OneWallet.
TheOneWallet Bitcoin Marketplace is a winner for both buyers and sellers, offering competitive prices, buyer protection and low selling fees. Bitcoin users worldwide can now enjoy conducting their online buying and selling easily in one place.
For more information about us, please visithttp://www.onewallet.io/
Contact Info:
Name: Lee MarburgEmail:[email protected]: OneWallet.io
SOURCE:OneWallet.io |
1,385,728,320 | 2013-11-29 12:32:00+00:00 | {"Bitcoin": [342]} | {} | 10 Things In Tech You Need To Know This Morning | https://finance.yahoo.com/news/10-things-tech-know-morning-123222686.html | Business Insider | http://www.businessinsider.com/ | YouTube
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1,385,728,320 | 2013-11-29 12:32:00+00:00 | {"Bitcoin": [342]} | {} | 10 Things In Tech You Need To Know This Morning | https://finance.yahoo.com/news/finance.yahoo.com/news/10-things-tech-know-morning-123222686.html | Business Insider | http://www.businessinsider.com/ | YouTube
Good morning!
If you celebrated Thanksgiving yesterday, we hope you had a happy and healthy holiday!
But as you know, tech news doesn't stop for turkey, so here's what you need to know on this Black Friday morning:
1.The Business Insider Guide To The Best Tech Gifts - try scoring some good deals on a few of these items today!
2.The Bitcoin Survival Guide - everything you need to know about the future of money.
3.Instead of lowering the cost of its hardware, Apple has opted to include gift cards with select purchases.
4.Apple brings developers 5x more revenue than Android.
5.Here's what a Twitter photo-sharing service could look like.
6.You'll chuckle when you see this comic: What Tech CEOs Are Thankful For This Holiday Season.
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1,416,995,669 | 2014-11-26 09:54:29+00:00 | {} | {"Bitcoin": [0]} | Bitcoin exchange Kraken to help in Mt. Gox bankruptcy | https://finance.yahoo.com/news/bitcoin-exchange-kraken-help-mt-095429183.html | Reuters | http://www.reuters.com/ | By Teppei Kasai
TOKYO (Reuters) - U.S. bitcoin exchange operator Payward Inc said on Wednesday it will work on retrieving some millions of dollars lost by Tokyo-based Mt. Gox, once the world's largest bitcoin exchange before it collapsed in bankruptcy this year.
Kraken, Payward's bitcoin exchange, will assist Mt. Gox's Tokyo-court appointed trustee Nobuaki Kobayashi with investigating where the missing bitcoins are, along with eventually redistributing any found to creditors as part of a liquidation.
The partnership between Payward and Mt. Gox was approved by the Tokyo district court on Wednesday. Kraken will not be paid for the arrangement but could win new clients as former account holders at Mt. Gox register to receive future distributions from the liquidation.
"We hope to revive bitcoin's reputation and create a healthy market for it, ultimately leading to profit for us," Ayako Miyaguchi, managing director of Kraken's Japanese operations, told reporters.
Once handling 80 percent of the world's bitcoin trades, Mt. Gox filed for bankruptcy in February in Tokyo after it lost 750,000 of its users' bitcoins and 100,000 of its own. Mark Karpeles, the 28 year-old French CEO of Mt. Gox, blamed hackers for the loss.
The lost funds represented the equivalent of $480 million at the time of the bankruptcy filing. Mt. Gox also said $28 million were "missing" from its Japanese bank accounts.
Karpeles later said he had recovered 200,000 of the lost bitcoins.
The collapse of Mt. Gox was a setback for a five-year-old virtual currency that proponents see as a still-developing alternative to traditional money.
Kraken, a San Francisco-based bitcoin exchange, announced in October that it was launching trading between bitcoin and the yen, saying it was the only major exchange to offer a dedicated bitcoin/yen order book.
(Writing by Edwina Gibbs) |
1,385,731,653 | 2013-11-29 13:27:33+00:00 | {"Bitcoin": [320, 451, 893, 935, 2004, 2168, 2243, 2401, 2932, 3923]} | {} | As bitcoin tops $1,200, its fate could rest in China | https://finance.yahoo.com/news/finance.yahoo.com/news/buyer-beware-bitcoins-fate-could-231628139.html | CNBC | http://www.cnbc.com/ | A surge in Chinese demand underlies bitcoin's astronomical rise over the past few months-the alternative digital currency topped $1,200 early Friday-underscoring the nation's interest in digital currencies as alternative investments, but the question lingers: is it only a matter of time before the government steps in?
Bitcoin high a new high of $1,242 on Friday, before retreating to trade in the $1,180 range.
According to independent pricing site Bitcoin Average, China now accounts for 62 percent of global market volumes. The surge in demand recently led China-basedBTC Chinato overtake Mt. Gox as the world's the largest bitcoin exchange by volume as the bitcoin craze continues to gather pace.
"China has a culture that is already acclimated to the use of digital currency, so it's not surprising that it has been quick to embrace bitcoin," Patrick Murck, founder and principal of the Bitcoin Foundation, told CNBC.
(Read more:Bitcoin breaks $1000 barrier for the first time)
While the 30-fold rise in the volume of yuan-based bitcoin trades over the last two months underscores China's interest and helped to push the value of bitcoin above $1,000 Wednesday for the first time on the Mt. Gox exchange, buyers beware: Beijing has taken steps to rein in virtual currencies in the past.
In 2009, the government introduced legislation banning the use of digital monies to purchase tangible goods. The laws were aimed at curbing enthusiasm toward Q Coin, a digital currency used on Tencent's (Hong Kong Stock Exchange: 700-HK) web-based instant messaging service called Tencent QQ. While Q Coin was initially used for the purchase of online games, it quickly spread into mainstream marketplaces.
The New York Times reported last week that People's Bank of China (PBOC) Deputy Governor Yi Gang said at an economic forum that it would be impossible for the central bank to recognize bitcoin as a legitimate financial instrument in the near term. However, Yi said people were free to participate in the Bitcoin market, a sign that some have interpreted as a cautious nod.
(Read more:Why bitcoin may never be ready for popular consumption)
Murck rejects the idea that Bitcoin risks being outlawed by Beijing. "It's a very different situation. Bitcoin is a decentralized virtual currency, while [Q Coin] is centralized, it's controlled by Tencent. There's an entirely different risk profile," he said.
Bitcoin's decentralized nature is part of its appeal for Chinese investors. Because the government does not allow the yuan (Exchange:CNY=)to float freely, analysts say the flock of funds into bitcoin may be less a vote of confidence in digital currencies than a no confidence vote for the yuan.
While the outcome of the Third China plenum earlier this month indicates that the government may be leaning towards a more liberal yuan policy, itBit CEO Richmond Teo doesn't believe it will dent demand for cryptocurrencies.
(Read more:Bitcoin merchants: Where to spend bitcoin)
"The liberalization of the yuan could actually help the adoption as people seek fast and low cost methods to transact," he told CNBC.
Star power is also keeping bitcoin at the forefront of the public imagination. The Winklevoss twins, of Facebook fame, are heavily invested in bitcoin and have lodged an SEC filing to establish the first ever bitcoin trust. More recently, Sir Richard Branson told CNBC's "Squawk Box" of his willingness to accept the virtual currency on Virgin Galactic, his space travel endeavor.
These public discussions are helping legitimize bitcoin, Murck says.
"The key imperative now is for companies and entrepreneurs to go about establishing the infrastructure necessary to make bitcoin a safe and reliable investment. Among exchanges, we're starting to see a move away from quantity to quality. Exchanges are becoming higher quality, better backed and offer safer and more secure infrastructure," Murck added.
(Read more:Bitcoin-the world's best boost to a brand?)
itBit, which recently raised $3.25 million to launch a NASDAQ (NDAQ)-powered platform offering "bitcoin trading for serious investors," is part of this new wave of exchanges that appeal to investor preference for safety. itBit holds customers' bitcoins in an offline bitcoin wallet and offers security features including two-factor authorization and withdrawal delays.
Still, the million-dollar question remains - what is fair value for this fledgling currency that seems to know no limits?
"Fair value is difficult to determine... we believe it could be a multiple of what it is now," Murck said.
- By CNBC's Julia Wood. Follow her on Twitter@JuliaCNBC
More From CNBC
• Marc Faber: 'In a massive, speculative bubble'
• On register's other side, there's little to spend
• Chart of the Day: Why Black Friday matters |
1,385,731,653 | 2013-11-29 13:27:33+00:00 | {"Bitcoin": [320, 451, 893, 935, 2004, 2168, 2243, 2401, 2932, 3923]} | {} | As bitcoin tops $1,200, its fate could rest in China | https://finance.yahoo.com/news/buyer-beware-bitcoins-fate-could-231628139.html | CNBC | http://www.cnbc.com/ | A surge in Chinese demand underlies bitcoin's astronomical rise over the past few months-the alternative digital currency topped $1,200 early Friday-underscoring the nation's interest in digital currencies as alternative investments, but the question lingers: is it only a matter of time before the government steps in?
Bitcoin high a new high of $1,242 on Friday, before retreating to trade in the $1,180 range.
According to independent pricing site Bitcoin Average, China now accounts for 62 percent of global market volumes. The surge in demand recently led China-basedBTC Chinato overtake Mt. Gox as the world's the largest bitcoin exchange by volume as the bitcoin craze continues to gather pace.
"China has a culture that is already acclimated to the use of digital currency, so it's not surprising that it has been quick to embrace bitcoin," Patrick Murck, founder and principal of the Bitcoin Foundation, told CNBC.
(Read more:Bitcoin breaks $1000 barrier for the first time)
While the 30-fold rise in the volume of yuan-based bitcoin trades over the last two months underscores China's interest and helped to push the value of bitcoin above $1,000 Wednesday for the first time on the Mt. Gox exchange, buyers beware: Beijing has taken steps to rein in virtual currencies in the past.
In 2009, the government introduced legislation banning the use of digital monies to purchase tangible goods. The laws were aimed at curbing enthusiasm toward Q Coin, a digital currency used on Tencent's (Hong Kong Stock Exchange: 700-HK) web-based instant messaging service called Tencent QQ. While Q Coin was initially used for the purchase of online games, it quickly spread into mainstream marketplaces.
The New York Times reported last week that People's Bank of China (PBOC) Deputy Governor Yi Gang said at an economic forum that it would be impossible for the central bank to recognize bitcoin as a legitimate financial instrument in the near term. However, Yi said people were free to participate in the Bitcoin market, a sign that some have interpreted as a cautious nod.
(Read more:Why bitcoin may never be ready for popular consumption)
Murck rejects the idea that Bitcoin risks being outlawed by Beijing. "It's a very different situation. Bitcoin is a decentralized virtual currency, while [Q Coin] is centralized, it's controlled by Tencent. There's an entirely different risk profile," he said.
Bitcoin's decentralized nature is part of its appeal for Chinese investors. Because the government does not allow the yuan (Exchange:CNY=)to float freely, analysts say the flock of funds into bitcoin may be less a vote of confidence in digital currencies than a no confidence vote for the yuan.
While the outcome of the Third China plenum earlier this month indicates that the government may be leaning towards a more liberal yuan policy, itBit CEO Richmond Teo doesn't believe it will dent demand for cryptocurrencies.
(Read more:Bitcoin merchants: Where to spend bitcoin)
"The liberalization of the yuan could actually help the adoption as people seek fast and low cost methods to transact," he told CNBC.
Star power is also keeping bitcoin at the forefront of the public imagination. The Winklevoss twins, of Facebook fame, are heavily invested in bitcoin and have lodged an SEC filing to establish the first ever bitcoin trust. More recently, Sir Richard Branson told CNBC's "Squawk Box" of his willingness to accept the virtual currency on Virgin Galactic, his space travel endeavor.
These public discussions are helping legitimize bitcoin, Murck says.
"The key imperative now is for companies and entrepreneurs to go about establishing the infrastructure necessary to make bitcoin a safe and reliable investment. Among exchanges, we're starting to see a move away from quantity to quality. Exchanges are becoming higher quality, better backed and offer safer and more secure infrastructure," Murck added.
(Read more:Bitcoin-the world's best boost to a brand?)
itBit, which recently raised $3.25 million to launch a NASDAQ (NDAQ)-powered platform offering "bitcoin trading for serious investors," is part of this new wave of exchanges that appeal to investor preference for safety. itBit holds customers' bitcoins in an offline bitcoin wallet and offers security features including two-factor authorization and withdrawal delays.
Still, the million-dollar question remains - what is fair value for this fledgling currency that seems to know no limits?
"Fair value is difficult to determine... we believe it could be a multiple of what it is now," Murck said.
- By CNBC's Julia Wood. Follow her on Twitter@JuliaCNBC
More From CNBC
• Marc Faber: 'In a massive, speculative bubble'
• On register's other side, there's little to spend
• Chart of the Day: Why Black Friday matters |
1,385,753,040 | 2013-11-29 19:24:00+00:00 | {"Bitcoin": [2763]} | {} | 5 Things Every Investor Should Know About The Bond Market Today | https://finance.yahoo.com/news/5-things-every-investor-know-192428563.html | Business Insider | http://www.businessinsider.com/ | REUTERS/Jose Manuel Ribeiro
FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
5 Things To Know About The Current Bond Market(Morningstar)
There are five key things to remember about today's bond market, according to John Rekenthaler at Morningstar. 1. Despite the run-up in interest rates, the 30-year Treasury yield is up to 3.8%, from 2.8% about six months ago, this is still lower than the 5.2% average since 1926. 2. Being long bonds could be dangerous. "Whereas intermediate-length Treasuries almost never shed 10% in total return during a bond-market sell-off, long Treasuries have done so a dozen times." 3. High quality corporate bonds look good as companies are posting big profits and healthy balance sheets and recession worries have faded. 4. When rates rise stocks are flat and don't lose money because investors have already been anticipating the rise and have absorbed some of the losses. Whereas bonds are "outright losers." 5. Bonds still look more expensive than stocks.
Advisors Should Watch For These 5 Regulatory Changes That Could Be Coming In 2015(Think Advisor)
There could be five key regulatory changes to watch for in 2014, according to Nancy Lininger, founder of California-based The Consoritum. 1. Fiduciary standard - "All financial advisors should have full disclosure of services, fees, conflicts of interest, and act in the best interest of the client." 2. Bringing various brokerage and advisory services under "one regulatory regime," though Lininger admits this is more her "ideal futuristic shape of the industry." 3. Some states could prohibit arbitration clauses in broker dealer and investment advisor contracts. 4. Regulators could require some sort of business continuity plan (BCP) from investment advisors and broker dealers in the event of unforeseen risks to businesses. 5. While many firms have already implemented the Federal Trade Commission’s (FTC) Red Flags Rule other groups that don't think of themselves as 'financial institutions' or 'creditors' could also come under the scanner.
5 Creative Presents For Clients Around The Holidays(WealthManagement.com)
Megan Leonhardt at WealthManagement.com created a list of creative presents advisors can get their clients over the holidays. Here are five of the ideas. 1. Pies to help ease the pressure off the Thanksgiving feast 2. A trip to the shooting range. 3. Personal presents like a coffee table book on a destination you might visit with a client when considering an investment. 4. A dinner and a show. 5. Clients' children often get an early acceptance into their schools around the holidays and some advisors gift them a sweatshirt or other memorabilia from the school.
Advisors Avoid Bitcoin Even As It Surges(Investment News)
Even as bitcoin crossed the $1,000 mark last Friday, advisors are staying away from the digital currency, reports Megan Durisin at Investment News. "Because it hit that $1,000 mark, [investors] think it's going to go to $2,000, going to go to $5,000," Phil Christenson, portfolio manager at Phillip James Financial told Investment News. "This is probably the time to ignore it. Other advisors admitted that while they aren't ready to jump on the bitcoin band wagon just yet, they will research it if a client broaches them on the subject.
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1,385,912,280 | 2013-12-01 15:38:00+00:00 | {"Bitcoin": [274, 437, 464, 834, 945, 1202, 1425, 1691, 1729, 1768]} | {} | A College Kid Made More Than $24,000 Yesterday Just By Waving This Sign On ESPN | https://finance.yahoo.com/news/finance.yahoo.com/news/college-kid-made-over-24-153845085.html | Business Insider | http://www.businessinsider.com/ | Imgur
A college student quickly made over $24,000 just by waving this sign on TV.
Here's the deal: Yesterday on ESPN's "College GameDay" (an ESPN college football show that's filmed at a different college campus each week) some student held the above sign that has both the Bitcoin logo and a QR code.
A QR code is a visual representation of any kind of information (frequently a URL for a website). In this case, the code represented a Bitcoin wallet.
On Reddit, Bitcoin fans managed to enhance the QR code from the screen in order to identify his wallet, so that people could donate money to him.
Here's one enhancement fromRedditor DanielTaylor:
Reddit
That allowed people to figure out his wallet address, which is: 1HiMoMgBaAikFHgAt3M4YJtetp4HrnsiXu.
The image made it onto the front page of Reddit and quickly spread across the Bitcoin community. And perhaps sensing an opportunity to turn this into a huge publicity stunt and free ad for Bitcoin (with articles like this one!) the community sent him donations.
The guy received 100 transactions totalling more than 22 bitcoins. At current prices above $1,100 per bitcoin, the kid has made over $24,000.
Blockchain.info
A crucial thing about how Bitcoin works is that all transactions are made public, and you can see the number of bitcoins associated with each wallet. What you can't see, however, is the actual person associated with the wallet.
Needless to say, the Bitcoin community was floored.
Here are some folks on Reddit watching, stunned, as the kid's wallet swelled with bitcoins:
Reddit
(ViaCryptoJunky.com)
More From Business Insider
• Researchers Retract Claim Of Link Between Alleged Silk Road Mastermind And Founder Of Bitcoin
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• Bitcoin Prices Just Hit Another Record |
1,385,912,280 | 2013-12-01 15:38:00+00:00 | {"Bitcoin": [274, 437, 464, 834, 945, 1202, 1425, 1691, 1729, 1768]} | {} | A College Kid Made More Than $24,000 Yesterday Just By Waving This Sign On ESPN | https://finance.yahoo.com/news/college-kid-made-over-24-153845085.html | Business Insider | http://www.businessinsider.com/ | Imgur
A college student quickly made over $24,000 just by waving this sign on TV.
Here's the deal: Yesterday on ESPN's "College GameDay" (an ESPN college football show that's filmed at a different college campus each week) some student held the above sign that has both the Bitcoin logo and a QR code.
A QR code is a visual representation of any kind of information (frequently a URL for a website). In this case, the code represented a Bitcoin wallet.
On Reddit, Bitcoin fans managed to enhance the QR code from the screen in order to identify his wallet, so that people could donate money to him.
Here's one enhancement fromRedditor DanielTaylor:
Reddit
That allowed people to figure out his wallet address, which is: 1HiMoMgBaAikFHgAt3M4YJtetp4HrnsiXu.
The image made it onto the front page of Reddit and quickly spread across the Bitcoin community. And perhaps sensing an opportunity to turn this into a huge publicity stunt and free ad for Bitcoin (with articles like this one!) the community sent him donations.
The guy received 100 transactions totalling more than 22 bitcoins. At current prices above $1,100 per bitcoin, the kid has made over $24,000.
Blockchain.info
A crucial thing about how Bitcoin works is that all transactions are made public, and you can see the number of bitcoins associated with each wallet. What you can't see, however, is the actual person associated with the wallet.
Needless to say, the Bitcoin community was floored.
Here are some folks on Reddit watching, stunned, as the kid's wallet swelled with bitcoins:
Reddit
(ViaCryptoJunky.com)
More From Business Insider
• Researchers Retract Claim Of Link Between Alleged Silk Road Mastermind And Founder Of Bitcoin
• The Value Of SecondMarket's Bitcoin Trust Just Broke $50 Million
• Bitcoin Prices Just Hit Another Record |
1,385,934,000 | 2013-12-01 21:40:00+00:00 | {"Bitcoin": [42, 277, 398, 493, 577, 707, 785, 997, 1822, 2175, 2215, 2418, 2686, 2797, 2871, 2929, 3867, 3904, 4194, 5926, 6049, 6716, 6754, 6818, 7787, 7910, 8087, 8174, 8331, 8485, 8631, 8747, 8795, 8938, 9022, 9297, 9436, 9538, 9649, 9967, 11122, 11653, 11836, 11881, 12074, 12250, 12616, 12759, 12838, 13002, 13270, 13411, 13948, 14711, 15142, 15239], "BTC": [5124, 8672]} | {"Bitcoin": [27]} | I'm Changing My Mind About Bitcoin | https://finance.yahoo.com/news/im-changing-mind-bitcoin-214003736.html | Business Insider | http://www.businessinsider.com/ | Joe WEisenthal
I'm changing my mind about Bitcoin.
I used to think it was a joke or at best a currency for clowns.
Now, I no longer think that. Now, I don't know what its future is.
Here, let me explain.
I've gone through two phrases writing about the "crypto-currency" called Bitcoin. I first started paying close attention to it early this year. In April, during its first big mega-spike, I wroteBitcoin Has No Intrinsic Value, And Will Never Be A Threat To Fiat Currency.
Then the price of Bitcoin crashed, and I kind of lost interest.
Then a few weeks ago, as the price of Bitcoin started exploding again, I wrote a post that earned me all kinds of trolls and anger on the Internet. That post was titledBitcoin Is A Joke.
That post seriously caused a major ruckus. Everyone on the Bitcoin message boards freaked out. Someone tried turning me into a meme.
Joe Weisenthal
Other folks, likeMax Keiser, eagerly anticipated the moment that I would commit suicide on live TV.
Max Keiser
Since then, Bitcoin has exploded in price much more, going from about $300 per coin to over $1,000, and even hitting $1,200 at one point.
Now there's always a danger in changing your mind on something after a gigantic rally, because that looks like "capitulation" and that usually happens at the top, and then you're made to look like a fool twice. First you end up looking like a fool for being negative at the bottom. Then you look like a fool for changing your mind at the top. You see this kind of thing happen all the time, because humans are herders, and it's difficult to have contrary opinions, especially in markets where the price moves against you daily.
But I'll say at the outset (and this defense is going to end up being pointless) I don't think that that applies here. First of all, I've never really expressed a view on Bitcoin's "price." The whole thing seemed like a house of cards to me. And at this point, I still have no idea whether it will go up or down. If I had to guess, I'd still guess that the price of a bitcoin is still much more likely to go to zero than to have any durable value out into the future. At this point, I have zero idea what a "fair" price for Bitcoin is.
But I'm less convinced that Bitcoin is for clowns or that the whole thing is a house of cards destined to disappear at the first mention of wind. It might be a house of cards! I just don't think I know.
The more I've thought about Bitcoin though, the less valid some of my earlier objections to it seem, which is why in the interest of intellectual honesty and being someone who takes into account new evidence when presented with it, I'm writing this post now.
First of all, it's wrong to say that Bitcoin has no value. There'sprima facieevidence that this is untrue. If you want to buy weed on the Internet, Bitcoin serves a useful purpose. First you convert your U.S. dollars into Bitcoin, which is a totally legal thing to do. With those Bitcoins you now have the ability to anonymously purchase anything you want on the Internet (like pot). The seller, the recipient of those bitcoins, can anonymously sell marijuana to you, and then convert those bitcoins back to U.S. dollars — again a totally legal action. Basically, both the buyer and the seller each engage in one activity that could theoretically be tracked (converting dollars into bitcoins and vice versa) while the actual illicit action (the selling of marijuana) is done in a system that is theoretically impossible to track.
It's easy to dismiss the foundations of a currency that provides the most value to people engaging in illegal action, but that's really not a good counterargument. Illicit action is a part of the economy and will always be with us. A protocol for buyer and seller to connect online anonymously is a useful thing for people in that economy, and so that alone offers at least some value to Bitcoin.
Two other arguments against Bitcoin, which I've stated in the past, are that the currency is too volatile to be a useful medium of exchange. And that it's also deflationary in the sense that if you assume the price is going to keep going up, then you have no incentive to ever spend your bitcoins, thus preventing the Bitcoin economy from becoming a vibrant thing.
But both of these counter-arguments have flaws.
Let's go back to the marijuana sale. If you're scouring The Silk Road, you're most likely looking to pay roughly the "street value" for the pot your buying, plus perhaps some premium for being able to purchase the product from the comfort of your own home. You probably don't really care what the bitcoin price of the pot is, just as long as it's pretty close to what you consider a fair value for it in U.S. Dollars. The bitcoin price is kind of a distraction — remember its main purpose is so you can complete a transaction with the veil of anonymity, which is something that's pretty much impossible using existing technologies on the Internet.
According toPriceOfWeed.com, the average price for an oz. of high quality weed is $352.88 in New York.
PriceOfWeed
So the bitcoin price of an ounce of high-grade pot should be around 0.3 BTC.
If I'm the buyer I don't really care if yesterday the price was 0.2 or 0.5 or 0.1 or 1. The only thing that matters is that right now the bitcoin price is roughly in line with what I want to pay in USD. Then the only thing that matters is whether I can switch my USD bitcoin in a timely manner, and make the transaction. And then for the seller, the key thing is to be able to quickly unload the bitcoin for U.S. dollars, so that he or she isn't taking any big risk on bitcoin fluctuations (after all, selling weed is risky enough. You don't want a big currency risk as well).
Provided the market is liquid enough, and the transaction infrastructure is robust enough, both the buyer and the seller should be able to conduct a mutually agreeable transaction at a fair U.S. dollar-based price, with Bitcoin simply providing the anonymity needed for the actual swap.
The same argument applies to the deflationary aspect of Bitcoin. If I'm buying weed online, what do I care if others are hoarding it, or if the price has gone up five times in the last day? So long as at the current price, the seller and me are able to come to a mutually agreeable price when translated back into U.S. dollars, the price rise just isn't that big of an impediment. In fact, the price rise might actually be helpful (more on this later).
Even if you don't think drugs, online gambling, and other illegal activity is enough to sustain a "currency," the same principle applied above could apply to something more important: money laundering or circumventing capital controls.
This is what the excitement about Bitcoin in China is all about. In the Bitcoin community, there's tons of talk about how the future of Bitcoin is in China, and there does seem to be tons of trading volume happening there. Here's the potential: China has lots of rich people, but a fragile banking system, and strict capital controls, meaning it's difficult to get your wealth out of the country. One way rich people get their wealth out of the country is by laundering it through Macau.Mamta Badkar wrote a great explainer of how this works.
Basically, your Chinese millionaire gives millions of dollars to a "junket" operator in the mainland. That junket operator then provides them with millions of dollars worth of chips at a casino in Macau. The millionaire then plays numerous hands of some game (probably baccarat) then at the end of the session cashes in the chips in Macau's currency, the Pataca. Then those Patacas are deposited into a bank in Macau, and voila, the millionaire has just escaped China's capital controls, having successfully moved millions outside of the Chinese banking system.
Bitcoin, theoretically, promises an even easier path to do this. Rich person buys a bunch of bitcoins, transfers them to a Bitcoin wallet associated with a financial institution outside of China, sells the bitcoins into some new currency, and then voila.
Economist Tyler Cowenwrote a long post about Bitcoin and its potential in China last week:
Right now, you can think of the value of Bitcoin being set in the same way that the value of an export license might be set through bids. If/when China fully liberalizes capital flows, the value of Bitcoin likely will fall. A lot. To the extent the shadow market value of the yuan rises, and approaches the level of the current quasi-peg, the value of Bitcoin will fall, by how much is not clear. Or maybe getting money out through Hong Kong (or Shanghai) will become easier and again the value of Bitcoin would fall. IfBeijing shuts down BTC China, the main broker, which by the way accounts for about 1/3 of all Bitcoin transactions in the world, the value of Bitcoin very likely will fall. A lot. You will recall thatthe Chinese government shut down the virtual currency QQ in 2009;admittedly stopping Bitcoin could prove harder but still they could thwart or limit it.
If you are long Bitcoin for any appreciable amount of time, it seems you are betting that the Chinese economy will do poorly and capital controls will remain. Then more people will be increasingly desperate to get more money out of the country. Or you may be betting that the Chinese use of Bitcoin to launder money will increase due to the mere spread of the idea, through social contagion. According tothis source, the value of Bitcoin is up by a factor of 66 this year in China.
Now, earlier I mentioned that the rising price of Bitcoin, rather than being a hindrance, could actually be helpful.
Here's why. See, while everyone talks about Bitcoin, there are actually a ton of crypto-currencies. The websiteCoinMarketCap.comlists 42 different ones, and helpfully lists the total "market cap" of each. The "market cap" is just the price of each coin multiplied by the number of outstanding coins there are for each.
Here's a look at the top eight among them. Bitcoin, at over $10 billion, is the biggest. Feathercoin, at over $19 million, is still pretty substantial.
CoinMarketCap
Now each one of these coin systems are pretty similar, but they have slightly different characteristics. The second biggest one is Litecoin, which advertises that transactions are faster, and that the mining system is fairer than bitcoins.
Theoretically, any one of these would suffice if you're a rich person in China looking to get your money outside the border. But in practice, several of these wouldn't suffice. For you to get your money out of China you need to be able to buy coins in size, and then be confident that once you've switched them to a wallet outside of the country, that you'd be able to sell those coins in size for roughly the same price.
If you wanted to move $1 million worth of Feathercoin, you'd be trying to move over 5% of the entire Feathercoin market. It's highly unlikely you'd be able to find that kind of liquidity in any reasonable period of time. You'd be taking a gigantic risk that when you wanted to sell your Feathercoin, that there would be no buyers, and you'd be totally screwed.
Now that Bitcoin has, notionally, billions of dollars in the ecosystem, moving $1 million (just ~1,000 bitcoins) is less likely to cause any kind of splash. You can probably obtain the coins and sell them without much disruption. So although theoretically the competing coins can technically do the job of getting past the border, you really need the network effects of a system with a high "market cap" to make it work. So in a sense, the rising price makes it easier for the whole system to operate. Rather than being discouraging to the Bitcoin ecosystem, it enables it, because there's enough money in the system to absorb the needs of buyers and sellers doing transactions.
Felix Salmon wrote a post titledWaiting for Bitcoin to get Boringin which he argued that Bitcoin bulls should be more excited by long periods with little volatility rather than the periods like recently where the price goes ballistic. But while that seems intuitive if you think of Bitcoin like a "currency" that needs stability, it doesn't necessarily jibe with the thinking above. Higher and higher bitcoin prices enable transactions in size. It's because Bitcoin has gone parabolic, and the number of dollars associated with it are now over $10 billion that it could become a plausible avenue for rich Chinese to start thinking of it as a way for them to get money out of the country. Rather than the high price being a hindrance, the high price expands the market.
There are all kinds of reasons to be compelled by anti-Bitcoin and to be deeply skeptical.
The Economisthad a great piece Saturday about how there's a huge and growing technical strain on the whole Bitcoin network that could cause an implosion.
And the cult-like fanaticism of Bitcoin bulls spewing warmed-over goldbug cliches about the instability of fiat currency or the demise of the Fed should make anyone skeptical. If the advocates of Bitcoin are telling you to blow your brains out, it's a good heuristic to think that what they're advocating is a total fraud which you can safely ignore. But while that might work most times, it's not necessarilyalwaysright.
Then there are charts like this comparing Bitcoin to the famous South Sea Bubble, whichMebane Faber put together.
Mebane Faber
It's hard not to look at that and conclude thatobviouslyBitcoin is a bubble that will go to zero. But there is at least the possibility that what we're seeing is network effects pricing themselves in real time, and acting like any other Internet protocol (or company) whose value grows like crazy the more people who are using it. If you were able to put a "value" on Napster in its early days as more and more people put their files on it, the chart might have looked similar. Does that mean Napster was a speculative bubble? No (although eventually it crashed for other reasons).
Right now, Bitcoin has real-world value to people because there are speculators who will supply bitcoin on demand (almost) and buy bitcoin in a liquid manner, allowing people to conduct online transactions that they might not otherwise be able to using a traditional currency. If the speculators ever lose interest (which might happen if the price stops going parabolic) then the people who use it for real transactions are cooked. Real currencies, backed by a central bank, and whose value is the function of laws, don't have to worry about this. People have to hold dollars in the U.S. no matter what (to pay taxes, to use the banking system, etc.) so the speculators aren't that important for the conduct of actual transactions.
Whether the speculators will stick around Bitcoin, and always ensure that people using it for real purposes (to buy drugs, to gamble, to buy things with no fees, to circumvent capital controls) can swap in and out of it is an open question.
But it's an interesting question with real-world ramifications that is more intriguing than I first thought.
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1,385,988,300 | 2013-12-02 12:45:00+00:00 | {"Bitcoin": [52, 225, 346, 550, 660, 737, 805, 934, 1599, 1956, 2031, 2425, 2826, 3268, 3405, 3511, 3600, 4094, 4197, 4686, 4694, 4838, 5026, 5133, 5360], "BTC": [3107, 3159]} | {"Bitcoin": [4]} | The Bitcoin Alliance of Canada Officially Launches to the Public with a Community Building Web Platform and Tiered Membership Structure | https://finance.yahoo.com/news/bitcoin-alliance-canada-officially-launches-124500686.html | Marketwired | http://www.marketwired.com/ | TORONTO, ONTARIO--(Marketwired - Dec 2, 2013) - TheBitcoin Alliance of Canada (BAC)is excited to officially announce itself to the public by way of a new community building platform and membership structure. Starting today, Bitcoin enthusiasts from Vancouver to St. John's have a space to gather, interact, and communicate. A place to see where Bitcoin events across the country are happening, and a place where members can interact with the BAC leadership.
Based on models that promote mass participation, mass acceptance and mass involvement, the Bitcoin Alliance of Canada has been structured as a non-profit organization dedicated to raising awareness of Bitcoin among Canadian consumers, merchants, and policy makers; to promoting Bitcoin adoption in Canada; and to furthering study and research in Bitcoin and other virtual currencies. The BAC leadership consists of aseven member board, elected by an independent committee of Bitcoin enthusiasts from across the country. Also joining the team isStu Hoegneras Legal Counsel, as well as accountants, and executive directorAnthony Di Iorio.
Building up to this official public launch, nine committees within the BAC have been formed, with board members taking on one or more roles. Over the next many months, these committees will be filled in by BAC members so that a robust, diversified group may be established. The committees are; Membership, Marketing, & Fundraising; Accounting & Audit Policy; Legal & Regulatory; Bylaws; Public Relations and Education; Website; Merchant & Commercial Relations; Expo & Events; and Technical.
To grow the Bitcoin community in Canada the BAC in proud to unveil a community building website based on theNationBuilderplatform. This community organization system will bring together people, finances, communications and website and help the BAC grow, organize communities and provide a unique setting for its members. It is expected the platform will unite Canadian Bitcoin enthusiasts behind a common purpose and help spread the message of Bitcoin through tight integration with social media and by taking advantage of the many tools the platform offers. Notable features include a social credit system and leader-boards that are designed to foster participation and growth of the community.
Along with the new website the BAC is also making an announcement regarding membership. "After months of discussion between the board and the Bitcoin community, the BAC is excited to announce its membership structure", says Executive Director Anthony Di Iorio. "The idea is to have a free base BAC membership, with upgraded paid memberships that will offer voting rights and other perks. We feel it's important to always offer a free option for whatever we are organizing", continues Di Iorio. "Our goal is to represent a large portion of the Bitcoin community in Canada and nothing gets more numbers behind you than free memberships and actions the garner mass participation", For those wanting a say in various voting situations and for added benefits, yearly paid memberships are offered at the equivalent of $25 paid in BTC, and lifetime memberships of $125 equivalent in BTC. Industry membership structure will be determined in the upcoming weeks with the input from the Canadian Bitcoin community and the membership base.
It's been an exciting few weeks of activity for the BAC, starting with the announcement of theBitcoin Expotaking place at the Metro Toronto Convention Center April 11-13, 2014. This will be the first Bitcoin Expo to come to Canada and its shaping up to be one of the largest International Bitcoin gatherings to date. Notable speakers include Jeffrey Tucker, Jeff Burwick, Joseph David, Michael Turpin, Elizabeth Ploshay, Cody Wilson, Stephanie Murphy, Adam B. Levine, Andreas Antonopoulos and Jason King, and Erik Voorhees (tentative). 80+ speakers are expected to present in 4 theater rooms and an Expo hall will house 30+ exhibitors and serve as a networking meeting space for the attendees. Keeping with the "free" concept, a half day of free seminars for those just getting into Bitcoin will take place. Upgraded full access packages are expected to be reasonably priced.
About the Bitcoin Alliance of Canada
The BAC is dedicated: to raising awareness of bitcoin among Canadian consumers, merchants, businesses, regulators, and policy makers; to promoting bitcoin adoption in Canada; to further Canadian and international study and research in bitcoin and other virtual currencies; and, to promoting Canadian participation in international partnerships, associations, and other efforts to promote, study, research, and discuss bitcoin and other virtual currencies.
About Bitcoin
Bitcoin is a digital currency and protocol that enables instant peer-to-peer transactions and worldwide payments for almost no processing fees. Bitcoin uses technology to operate with no central authority; managing transactions and bitcoin issuance is carried out collectively by the network. Through many of its unique properties, Bitcoin allows exciting uses that cannot be covered by any previous payment systems. The software that the Bitcoin network runs on is a community-driven, free, open-source project released under the MIT license.
For information on the Alliance, or if you wish to volunteer or help the organization pursue its goals, please contact theBitcoin Alliance of Canada. |
1,385,996,340 | 2013-12-02 14:59:00+00:00 | {"Bitcoin": [1603]} | {} | Everything You Need To Know About The Legality Of Amazon's Delivery Drones | https://finance.yahoo.com/news/everything-know-legality-amazons-delivery-145900638.html | Business Insider | http://www.businessinsider.com/ | Amazon
They're not legal at all.Yet.
During a 60 Minutes interview last night, Amazon founder Jeff Bezos revealed thatthe company is experimenting with self-piloting delivery dronesthat will fly an order to your house 30 minutes after you place it.
The future of Amazon delivery appears to be completely automated, but the company has quite a way to go on the legal front. Bezos says that the Amazon drones could be in operation by 2015, but acknowledges that timeline as optimistic.
Commercial drone certificationisn't even slated to begin until 2020under the FAA's roadmap. Remember, these are the guys who only just recently let you read a Kindle during takeoff.
Hobbyist drones, like those used by videographers to get awesome shots, are limited to operating no higher 400 feet. But Amazon's drones are large commercial instruments without pilots, and they'd be carrying payloads up to five pounds in weight a distance of up to 10 miles.Quartz puts it bluntly– drones can explode and run into things. This type of drone is currently outside the bounds of the law for a reason.
So if Amazon's miracle drones aren't an imminent practical reality with the laws set up as they are, why would it spill the beans?
It was likely a move designed to get the public to share Amazon's vision of what the futurecouldlook like. When the time actually does come for this stuff to get regulated, public opinion will be paramount. (And Amazon is probably also glad to catapult itself into the news the night before the biggest online shopping day of the year.)
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1,385,996,340 | 2013-12-02 14:59:00+00:00 | {"Bitcoin": [1603]} | {} | Everything You Need To Know About The Legality Of Amazon's Delivery Drones | https://finance.yahoo.com/news/finance.yahoo.com/news/everything-know-legality-amazons-delivery-145900638.html | Business Insider | http://www.businessinsider.com/ | Amazon
They're not legal at all.Yet.
During a 60 Minutes interview last night, Amazon founder Jeff Bezos revealed thatthe company is experimenting with self-piloting delivery dronesthat will fly an order to your house 30 minutes after you place it.
The future of Amazon delivery appears to be completely automated, but the company has quite a way to go on the legal front. Bezos says that the Amazon drones could be in operation by 2015, but acknowledges that timeline as optimistic.
Commercial drone certificationisn't even slated to begin until 2020under the FAA's roadmap. Remember, these are the guys who only just recently let you read a Kindle during takeoff.
Hobbyist drones, like those used by videographers to get awesome shots, are limited to operating no higher 400 feet. But Amazon's drones are large commercial instruments without pilots, and they'd be carrying payloads up to five pounds in weight a distance of up to 10 miles.Quartz puts it bluntly– drones can explode and run into things. This type of drone is currently outside the bounds of the law for a reason.
So if Amazon's miracle drones aren't an imminent practical reality with the laws set up as they are, why would it spill the beans?
It was likely a move designed to get the public to share Amazon's vision of what the futurecouldlook like. When the time actually does come for this stuff to get regulated, public opinion will be paramount. (And Amazon is probably also glad to catapult itself into the news the night before the biggest online shopping day of the year.)
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1,385,999,985 | 2013-12-02 15:59:45+00:00 | {"Bitcoin": [215, 370, 519, 798, 1585, 1733, 1811], "BTC": [1115, 1298, 1355]} | {"Bitcoin": [58]} | 'Sheep Marketplace' Goes Offline And Up To $44 Million In Bitcoins Disappears | https://finance.yahoo.com/news/sheep-marketplace-goes-offline-44-155945253.html | Business Insider | http://www.businessinsider.com/ | Modern Farmer
Shrek the sheep, before being shorn.
Sheep Marketplace, an online market for drugs thatbecame prominent after Silk Road was shut downby U.S. prosecutors, has also gone offline and up to $44 million in Bitcoins may have disappeared with it.
The BBC reports that the operator ofSheep Marketplace closed the site after he discovered a theftof $5.3 million in Bitcoins.
ButSheep users on Reddit began complainingof a discrepancy over a weeklong period in which withdrawals were blocked:
Sheep users and other Bitcoin followers on reddit say that the administrators began blocking withdrawals of bitcoins from the site more than a week ago, and may have absconded with as much as $44 million from the site’s users, pointing to a movement of 39,900 bitcoins visible in the public record of Bitcoin transactions known as the blockchain.
Many of those users are now openly sayingthey have been scammed.
Here is the note that theSheep operators posted after they closed the site:
We are sorry to say, but we were robbed on Saturday 11/21/2013 by vendor EBOOK101. This vendor found bug in system and stole 5400 BTC – your money, our provisions, all was stolen. We were trying to resolve this problem, but we were not successful. We are sorry for your problems and inconvenience, all of current BTC will be ditributed to users, who have filled correct BTC emergency adress. I would like to thank to all SheepMarketplace moderators by this, who were helping with this problem. I am very sorry for this situation. Thank you all.
These thefts aren't surprising. As we noted previously,Bitcoin is favored by criminals.
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1,385,999,985 | 2013-12-02 15:59:45+00:00 | {"Bitcoin": [215, 370, 519, 798, 1585, 1733, 1811], "BTC": [1115, 1298, 1355]} | {"Bitcoin": [58]} | 'Sheep Marketplace' Goes Offline And Up To $44 Million In Bitcoins Disappears | https://finance.yahoo.com/news/finance.yahoo.com/news/sheep-marketplace-goes-offline-44-155945253.html | Business Insider | http://www.businessinsider.com/ | Modern Farmer
Shrek the sheep, before being shorn.
Sheep Marketplace, an online market for drugs thatbecame prominent after Silk Road was shut downby U.S. prosecutors, has also gone offline and up to $44 million in Bitcoins may have disappeared with it.
The BBC reports that the operator ofSheep Marketplace closed the site after he discovered a theftof $5.3 million in Bitcoins.
ButSheep users on Reddit began complainingof a discrepancy over a weeklong period in which withdrawals were blocked:
Sheep users and other Bitcoin followers on reddit say that the administrators began blocking withdrawals of bitcoins from the site more than a week ago, and may have absconded with as much as $44 million from the site’s users, pointing to a movement of 39,900 bitcoins visible in the public record of Bitcoin transactions known as the blockchain.
Many of those users are now openly sayingthey have been scammed.
Here is the note that theSheep operators posted after they closed the site:
We are sorry to say, but we were robbed on Saturday 11/21/2013 by vendor EBOOK101. This vendor found bug in system and stole 5400 BTC – your money, our provisions, all was stolen. We were trying to resolve this problem, but we were not successful. We are sorry for your problems and inconvenience, all of current BTC will be ditributed to users, who have filled correct BTC emergency adress. I would like to thank to all SheepMarketplace moderators by this, who were helping with this problem. I am very sorry for this situation. Thank you all.
These thefts aren't surprising. As we noted previously,Bitcoin is favored by criminals.
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1,386,009,660 | 2013-12-02 18:41:00+00:00 | {"Bitcoin": [2706]} | {} | Why Benjamin Netanyahu Gave The Pope A Book About The Spanish Inquisition | https://finance.yahoo.com/news/why-benjamin-netanyahu-gave-pope-184144909.html | Business Insider | http://www.businessinsider.com/ | AP
Today Israeli Prime Minister Benjamin Netanyahu met Pope Francis at the Vatican. According to the DPA news agency, Netanyahubrought with him a slightly unusual gift: A book about the Spanish inquisition.
The leader of the world's only Jewish state giving the leader of the Catholic Church a book that largely revolves about Spanish Catholics questioning, torturing, and punishing Jewish converts to Catholicism is certainly noteworthy. The Spanish inquisition is widely held up as one of the worst excesses of the Roman Catholic Church, and thousands of people were expelled from Spain or burned at the stake. Worse still, the inquisition of Catholic converts (and the use of torture to discover heretics) was first legally sanctioned by Pope Innocent IV.
So, Netanyahu's gift may seem passive aggressive (or maybe just aggressive), and perhaps it is. But it is important to think of the context of the book, which is written by Netanyahu's father Ben-Zion Netanyahu, a well-regarded historian who worked at both Hebrew University of Jerusalem and Cornell University.
The elder Netanyahu's impact on his politician son is well-known within Israeli circles. In 1998,David Remnick of the New Yorkerwrote that while Ben-Zion Netanyahu's opinions frequently differed from his son, the pessimism of his right wing worldview influenced his son's hawkish policies. “His dilemma is always to what degree he can, or should, remain true to the ideals, the stubbornness, of his father," Remnick observed.
The book given to the pope, titled "The Origins of the Inquisition in Fifteenth-Century Spain," is considered Netanyahu's most important work, and it reflects that deep pessimism. The book argues that, contrary to the widely held view that the Jewish converts persecuted by the Catholic church were secretly practicing Judaism, they were in fact devout Catholics who had forsaken their religious heritage. As such, the book argues, the persecution of the Jews was not truly based on religious grounds, but on a racial prejudice and financial envy that would be echoed years later in the Holocaust.
As Ben-Zion Netanyahudied just last year at the age of102, it seems likely that Netanyahu meant the gift to be a personal touch. Given the reported inscription ("To His Holiness Pope Francis, great guardian of our common heritage") and the other reported gift — a carved panel of Saint Paul, an apostle who holds a special place in the relationship between the two religions — it seems also to highlight the inescapable link between Judaism and Catholicism, for better or worse.
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1,386,009,992 | 2013-12-02 18:46:32+00:00 | {"Bitcoin": [64, 210, 340, 889, 1120, 1257, 1281, 1583, 1837, 3177]} | {"Bitcoin": [0]} | Bitcoin Bubble: Not Bursting Now | https://finance.yahoo.com/news/bitcoin-bubble-not-bursting-now-184632480.html | Zacks | http://www.zacks.com/ | Touted as the best invention in history since the Internet, the Bitcoin business has also been dubbed as a “mathematical framework that is free of politics and human error.” The blistering speed of the booming Bitcoin is evident from its rise to over $1,000 a unit at November end, from less than $15 in January of this year.The concept of Bitcoin sprouted in 2008 from a paper published under the fictitious name of Satoshi Nakamoto. The idea was officially implemented the following year. Digital currency gained distinction in 2012, and has not looked back ever since.Is It Overvalued?The price of cryptocurrency saw its ebb and flow, hitting $230 in April, falling below $70 in July, and then peaking at $1,000 in November. The only thing constant is its huge flock of followers. However, the latest jump – symbolic of the surging Chinese demand – looks like an archetypal bubble.With Bitcoin touching such unforeseen heights, mainstream adoption cannot be far away. In a major victory last month, digital currencies got U.S. regulatory signals of being accepted as legitimate payment alternatives. Indications that Bitcoin growth will not be disrupted by regulatory intervention, strengthened the rally in the price of the cryptocurrency.The Beauty of BitcoinThe best part of Bitcoin is that it’s a peer-to-peer currency not regulated by any central bank, but based on digital tokens with no intrinsic value. The value of a bitcoin depends on a distributed system, based on a transaction ledger which is cryptographically verified and jointly maintained by the currency’s users.Bitcoin transactions are free from intermediaries and designed to ensure increased money supply only at a fixed rate that slows over time and then stops altogether. Also, anonymity is possible with the right precautions. This has increased the appeal of Bitcoin among geeks, libertarians, drug dealers, speculators and gold bugs.However, with the recent regulatory acceptance, cryptocurrency has gained popularity. Further, building on its success, many other altcoins have emerged in recent times. Litecoin, Peercoin, Anoncoin and Zerocoin are only to name a few.Authorities Cracking the WhipThe worldwide use of virtual currency has left regulators with a nagging headache thanks to the risky dealings prompted by it. In June, another virtual currency firm, Liberty Reserve was hauled up by regulators on allegations of money laundering.In March, the Federal Financial Crimes Enforcement Network issued regulations for virtual currencies, entailing them to register with the government. This means that every source of virtual currency has to worry about conformity to certain standard laws.Moreover, regulatory bodies are investing heavily in their cybercrime software and equipment. With companies likeEMC Corp.(EMC),Symantec(SYMC) andAkamai Technologies, Inc.(AKAM) churning out new and innovative cybersecurity software, anonymous transfer of criminal proceeds has become difficult.This has resulted in noticeable changes in the digital currency business. Companies like Perfect Money and WebMoney are no longer accepting U.S. customers. Further, some organizations are steering clear of Bitcoin exchanges. Certain consumer Internet companies such asFacebook(FB),eBay(EBAY),Amazon(AMZN) andNetflix, Inc.(NFLX), which use virtual money, could be hit by the regulations.The overwhelming success of digital currency has been the foundation of the rip-roaring growth in online money transmission business. Prosecutors over the world will keep a watchful eye on this booming business. But as long as online games as well as dating and shopping sites gain popularity, virtual currency will not lose its luster.
Read the Full Research Report on SYMCRead the Full Research Report on AKAMRead the Full Research Report on AMZNRead the Full Research Report on NFLXRead the Full Research Report on EMCRead the Full Research Report on EBAYRead the Full Research Report on FBZacks Investment Research |
1,386,023,289 | 2013-12-02 22:28:09+00:00 | {"Bitcoin": [446, 988, 1047, 1271, 1369, 1566, 2143, 2175, 2343, 2436, 2601, 2624, 2818, 3040, 3457, 3508]} | {"Bitcoin": [6]} | Meet 'Bitcoin Jesus', a virtual currency millionaire | https://finance.yahoo.com/news/meet-bitcoin-jesus-virtual-currency-222809027.html | CNBC | http://www.cnbc.com/ | The astronomical rise in the value of bitcoin - which has surged more than 8000 percent over the course of 2013 - has created a new breed of digital currency multi-millionaires.
34-year-old Roger Ver began investing in bitcoins in early 2011 - and made his first million from the virtual currency that same year - which saw prices skyrocket from around $0.30 to $32.00 before settling at $2. He bought his first bitcoins at around $1.
(Read more:Bitcoin's surge due to 'excess liquidity': Faber)
With prices currently hovering above $1,000, his virtual wealth has since exploded. Ver says he doesn't feel "richer" but that his wealth is "much more liquid than it would be in a normal bank account."
Ver is one of hundreds of investors that have struck it big with bitcoin. But his association with the virtual currency extends far beyond just owning it.
He has helped seed about a dozen different businesses involving bitcoin and actively promotes the currency, earning him the nickname "Bitcoin Jesus".
"I believe Peter Vessenes [chairman of the Bitcoin Foundation] gave me the title when we were at a BBQ together. I was explaining bitcoin to about two dozen high school kids. The kids were all enthralled by bitcoin, and hanging on my every word," he said.
(Read more:Bitcoin breaks $1,000 barrier for the first time)
"Peter then commented that 'it's like you are a Bitcoin Jesus, and you have all your disciples around you'," he added.
His venture MemoryDealers.com, a website that sells discounted computer parts, became the first mainstream business to accept Bitcoins as payment. It's also worth noting that it was through this business that he made his first million, in dollar terms, back in 2003.
Ver's nickname is as colorful as his past. Born and raised in Silicon Valley, he moved to Tokyo, Japan in 2005 after serving 10 months in federal prison for selling a product called "Pest Control Report 2000" - which he described as a firecracker used by farmers to keep animals away from their cornfields - on eBay.
Before that, in 2000, he tried his hand in politics, running for California State Assembly as a Libertarian, but lost.
Bitcoins are "incredibly cheap"
Bitcoin's meteoric rise in the recent weeks has led to concerns that it may be a speculative bubble, but Ver says this is not a concern for him.
At $1,000, Ver regards Bitcoin as "incredibly cheap", noting that if it gains in popularity as he anticipates, each Bitcoin would be worth tens or hundreds of thousands of dollars.
"The rapid price rise is due to people with money starting to realize how important of an invention Bitcoin is," he said.
"Bitcoin will experience many bubbles along its way to improving the lives of everyone on the planet. I'm not concerned with the short-term price fluctuations," he added.
Ver, who currently uses Bitcoins to pay factories in China to produce electronics components for his company, says he plans to use them "to promote the ideas of Voluntaryism and economic freedom" in the future.
(Read more:Regulators see value in Bitcoin, and investors hasten to agree)
This past weekend, Ver made the largest-ever bitcoin-based charitable donation. Ver donated 1000 bitcoins (over $1 millions) to theFoundation for Economic Education- an American organization that promotes the principles of laissez-faire economics, private property, and limited government to students.
-By CNBC's Ansuya Harjani; Follow her on Twitter@Ansuya_H
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1,386,035,473 | 2013-12-03 01:51:13+00:00 | {"Bitcoin": [1233]} | {} | The PC Market Has Shrunk By 10% Because People Don't Want New Ones | https://finance.yahoo.com/news/pc-market-shrunk-10-because-015113773.html | Business Insider | http://www.businessinsider.com/ | Microsoft
When 2013 officially comes to a close, PC makers will have sold 10.1% fewer PCs this year than they did in 2012 – the worst year on record,according to a new report by IDC.
The market research firm had previously predicted the PC market would contract by 9.7%.
And IDC believes it won't hit rock bottom 2014, either, but will shrink by another 3.8%.
Total 2013 shipments will wind up being about 314 million, "barely ahead of 2008 volumes," IDC says.
Why? People just aren't getting rid of their old PCs.
"Perhaps the chief concern for future PC demand is a lack of reasons to replace an older system," said Jay Chou, Senior Research Analyst,Worldwide Quarterly PC Trackersat IDC. "While IDC research finds that the PC still remains the primary computing device – for example, PCs are used more hours per day than tablets or phones – PC usage is nonetheless declining each year as more devices become available."
If there is a bright spot, it's Windows 2-in-1 convertibles, devices that work like a PC and a tablet. Sales of those devices are expected to grow to 39.3 million units in 2017 from less than 7.5 million in 2013.
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1,386,075,960 | 2013-12-03 13:06:00+00:00 | {"Bitcoin": [42, 1438, 1755]} | {"Bitcoin": [9]} | btcQuick Bitcoin Exchange Eliminates Fraud With miiCard Online Identity Verification | https://finance.yahoo.com/news/btcquick-bitcoin-exchange-eliminates-fraud-130600483.html | Marketwired | http://www.marketwired.com/ | DENVER, CO--(Marketwired - Dec 3, 2013) - Bitcoin exchange btcQuick today shared results from its deployment ofonline identity proofing servicemiiCard to verify new customer identity and combat fraud. In its first 30-days with miiCard, btcQuick eliminated chargebacks from identity fraud and saved money on administrative costs while dramatically improving the overall customer experience and meeting regulatory requirements.
"miiCard is far superior to our previous bureau data and document scanning process, plus our customers prefer the easier interface and experience," said btcQuick founder and CEO Jerrod Bunce. "We deployed miiCard in just a few hours time and it delivered an immediate ROI while freeing up development resources for core business needs."
During its first year of operation, btcQuick grew to millions of dollars in sales but experienced a high rate of chargebacks due to identity fraud and low levels of assurance from its offline document scanning process. In addition to these recurring losses and high administrative overhead, the btcQuick customer sign-up experience was slower and more difficult than anticipated.
Key outcomes from btcQuick's use of miiCard include:
• Eliminated fraud and reduced administrative costs;
• Improved overall user experience;
• Supports all Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements;
• Deployed new online identity verification system in just hours.
"Bitcoin is a disruptive new financial force, but companies operating within that market still face the same fraud risks and must meet the same regulatory compliance thresholds as traditional financial institutions," said miiCard CEO James Varga. "miiCard is a plug-and-play compliance and identity fraud solution for Bitcoin and other financial service innovators that pays for itself in trust, ease of use, and operational savings. We're delighted to be solving this massive pain of identity related fraud for our customers."
miiCard's Level of Assurance 3+identity verificationand authentication service leverages the authority and security inherent in a member's online financial accounts to prove identity to a passport or photo ID standard. The miiCard platform offers a wide range of features for financial service companies including identity proofing, personal data,strong multi-factor authentication, financial transaction data and security features available through simple API's and hosted services.
The full btcQuick case study is available byclicking here. To learn more, please visit miiCard athttp://www.miiCard.comor [email protected].
About miiCard
miiCard is a consumer centric global onlineidentity service (IDaaS)platform that establishes true trust online by guaranteeing an individual's identity to the level of an offline photo ID check, completely online and in just minutes. miiCard helps businesses eliminate fraud, reduce manual processing costs, and prevent high rates of dropout when offline identity checks are required. A member-driven service, based on the principles of Bring Your Own Identity, miiCard empowers consumers to proactively manage their digital identity, buildtrust online, and trade and transact with confidence. miiCard is available in ten countries and can verify over 350 million people today. |
1,386,088,325 | 2013-12-03 16:32:05+00:00 | {"Bitcoin": [84, 309, 365, 494, 969, 1172, 1567, 2974, 3121, 3298, 3999, 4028, 4111, 4191, 4272, 4312]} | {"Bitcoin": [53]} | A Thief Is Attempting To Hide $100 Million In Stolen Bitcoins — And You Can Watch It Live Right Now | https://finance.yahoo.com/news/thief-attempting-hide-100-million-163205279.html | Business Insider | http://www.businessinsider.com/ | Flickr/Richt
A person who allegedly robbed the web site Sheep Marketplace of 96,000 Bitcoins — about $100 million at current prices — isattempting to hide the heist by breaking up the massive online currency cacheand repeatedly trading it through various "tumblers," which mix up and (supposedly) launder old Bitcoins for new.
You can watch his progress here, on a Bitcoin address tracker where the money has been tagged with the marker "Sheep Market Scam."
It's not clear exactly how big this Bitcoin theft is, but it is shaping up to be one of the biggest. Sheep Marketplace was an anonymous site for drug dealers that became prominent when Silk Road was closed down. In the last couple of days, Sheep Marketplace was hacked in such a way that users' accounts were drained even though their balances continued to show the money was still there.The robbery was discovered in late Novemberand Sheep Marketplace promptly shut down.
The thief's problem is that the angry Bitcoin account holders whose money has gone are following the thief through the tumbler, by sending him small amounts of cash that are appended to the larger amount as it is split up and moved on. Each Bitcoin transaction generates a "blockchain" record showing its history, and the appended loose change thus identifies where the bulk of the money is going. The theft victims are hoping that eventually the thief will be prevented from cashing out his accounts because doing so would lead to him being identified in real life.
So far,Reddit user sheepreleoaded2 believes he has identified 96,000 Bitcoins(about $100 million) being exchanged by the thief:
He was desperately creating new wallet addresses and moving his 49 retirement wallets through them, but having to wait for 3 or 4 confirmations each time before moving them again. Each time I caught up, I "666"ed him - sent 0.00666 bitcoins to mess up his lovely round numbers like 4,000. Then,all of a sudden, decimal places started appearing, and fractions of bitcoins were jumping from wallet to wallet like grasshoppers on a hotplate without stopping for confirmations.
S---!
He was tumbling our stolen bitcoins a second time, and a tumbler is unbeatable....
Unless you guess which one it is, nearly all the coins belong to the person you're tracking, jump in with him, and get jumbled up through the same wallets using the same algorithm. I was hopping from foot to foot shouting "come on!" at my laptop, waiting an age for 6 blockchain confirmations to get 0.5 btc into "bitcoin fog". My half a bitcoin got sliced and diced through loads of wallets and I followed the biggest chunk with blockchain.info - along with 96,000 stolen ones!
Theblockchain record is here. The last transaction was just a few minutes ago. The thief appears to have split the 96,000 coins into packets of ~1,000 each, sending each one on a different route.
Unfortunately for those who have been ripped off, the chances of them getting any money back are slim: Once a Bitcoin transaction has been made, it cannot be reversed without the consent of the recipient. The thief therefore must find a way to cash out his Bitcoins without revealing his true identity, according to The New Statesman:
Selling those bitcoins and turning them into cash is going to be extremely difficult, as the major Bitcoin exchanges all demand proof of identity (specifically to avoid charges that they're involved in money laundering), and if they're broken down into smaller quantities to sell via a site like localbitcoins.com a paper trail will still be generated. As soon as it's possible to link one real-life bank account or identity to any bitcoins from that stash, it will be possible to work out their real-life identity.
Those observing the chase onReddit seem to believe that the thief will either eventually get awaywith it, or the money will be "lost" by becoming irretrievable:
You aren't going to get anything back. None of you are going to get anything back, and it's by design. This is EXACTLY how Bitcoin is supposed to work. Bitcoin would be fundamentally broken if you somehow got your money back.
Remember,Bitcoin is for criminals.
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1,417,348,800 | 2014-11-30 12:00:00+00:00 | {"Bitcoin": [1555]} | {} | Innovation: What It Really Takes to Market a Good Idea | https://finance.yahoo.com/news/innovation-really-takes-market-good-120000066.html | The Fiscal Times | http://www.thefiscaltimes.com/ | Management gurus who have long touted the value of teamwork and productive collaboration now have new evidence from journalist and biographer Walter Isaacson.
In his new bookThe Innovators:How a Group of Inventors, Hackers, Geniuses and Geeks Created the Digital Revolution,Isaacson makes the case that the great digital transformation of our time has not been the creation of one or two solo geniuses tinkering away in a basement or a garage. Rather, the people who brought us the transistor, the personal computer, the Internet, Google, and the smartphone (among other things) collaborated creatively with others to innovate, execute and deliver their products, building on what went before them to advance technology.
Related: The Sharing Economy Takes a Giant Step Forward
Isaacson sees a very long tail. “I think we’ll have even more ways in the future to use technology for creative endeavors, such as writing narrative nonfiction collaboratively,” he said. “I crowd-sourced some of the chapters in my book, for example. I hope we'll be able to do more of that, with role-playing games, or interactive plays, or new forms of media.”
He shared more thoughts in an interview:
The Fiscal Times (TFT):How can commerce work better in the creative economy you describe?
Walter Isaacson (WI): I hope we’ll have a simpler, easier micropayment system on the Internet that doesn’t have to go through the antiquated financial and credit card systems we have, so that people can very simply pay small amounts to buy a song or be part of a play or game. I think Bitcoin is helping us create such an economy.
TFT: In terms of privacy protection in an era of hacking, how do you see that improving?
WI: Anybody who wants to can try to protect his or her personal data. Protections should be standard. But if you get so over-worried about privacy, you’ll end up not having innovation in health care or innovation in technology.
Related: Sony Hacked Again. Who’s at Risk?TFT: Let’s discuss the economic promise of the digital revolution. Where do you see this going, and what are the pitfalls as well?
WI:For 2,000 years people have been worried technology will put people out of work, that it will destroy jobs. I begin my book with Ada Lovelace, the pioneer computer programmer in the 1830s whose father, the poet Lord Byron, was a Luddite – literally. His only speech in the House of Lords was defending the followers of Ned Ludd, who smashed mechanical looms because he thought the looms would put weavers out of work. But Ada understood punch cards and looms would allow new forms of creativity, and she was right. People have always worried that technology would put us out of work and they’ve always been wrong, and they’ll be wrong today. You see all sorts of new jobs coming from creative economies and sharing economies today just because cell phones became smartphones.
TFT: There are the challenges of execution when it comes to new technologies, of course. It’s not enough to have a great idea.
WI: The people who are creating startups today are realizing that the hard part is not creating the initial idea – it’s creating a collaborative team that knows how to execute it. All the innovators I write about had a great vision but they knew that vision without execution was hallucination. So they found partners who were engineers, or business strategists, and they built a team that turned the personal computer, or Google, or Facebook, or anything we have today from being an idea into being a product. Even at Texas Instruments when they created transistors, they realized they needed a consumer product that would drive demand, so they created the transistor radio. Likewise, Steve Jobs knew how to create consumer demand when he created the iPod, the iPhone, or the iPad.
Related: Steve Jobs’ Own Apple Computer Could Fetch $600K
TFT: The “bad period of technology” was in the 1960s, you say. Why?
WI:TV was the dominant medium then and people sat passively in front of it, consuming mindless products instead of being able to interact or pick and choose the type of innovation they wanted. Today, people get to express themselves. They get to choose the information they want and they get to interact with it. The value of this is truly glorious.
TFT: You personally no longer watch television. Do you miss it?
WI: Not at all. I can get what I want on my iPhone or my computer. I don't need a TV. I think the era of television is over. The era of television as the dominant way we consume media is ending.
TFT: Technology and education are intertwined today. How do you see this progressing?
WI:If I want to learn how an electric circuit works, I can take an online course. Students anywhere in the world can learn about American history on Khan Academy. The experimentation is very encouraging. We have EdX; we have Khan Academy. A few years ago, people thought online courses would heavily disrupt education, but, as usual, it takes a little bit longer than we thought for some of these transformations to happen.
Today, teachers can tailor lessons to each kid in the classroom so that students learn at their own speed. By watching videos or doing lessons on their tablets, students can catch up or get ahead of others in the class. Technology allows for new ways of teaching and I think this will be a big story in the next decade. The model will be flipped. You will listen to the lectures at home on your devices – but do your “homework” with colleagues and teachers in class in a collaborative environment.
Related: How Online Education Will Save Our Universities
TFT: How will the American workplace change as well, beyond the ways it already has?
WI: We thought technology would allow us to telecommute, but creativity is better in person. People like to be around other people. You’re seeing the migration into creative cities, rather than people living off on their own and telecommuting. People are moving to Austin or New Orleans or Brooklyn or San Francisco because they want to be around other creative people.
TFT: So Marissa Mayer at Yahoo was right when she told workers toquit telecommutingand come to the office?WI: She made a good point. I don’t think technology was created to keep us apart. We’ll continue to have open workspaces, flexible hours and family-friendly policies, but I think the most creative companies are the ones that bring people together. Steve Jobs felt that way, too, because of the serendipitous improvisation that can result when people are together.
That's why he designed the new headquarters for the Pixar movie studios the way he did, with an atrium in the middle so people would encounter others when they walked through it. One of his last creations was the plan for the Apple headquarters, a circle of rings with open workspaces surrounding a central courtyard area. When Intel created an open workspace with no corner offices or hierarchies – and today when you walk around the Googleplex or Bloomberg or Facebook and see people collaborating in big open spaces – the value of people being together physically is hard to overestimate. Most ideas are created collaboratively and they come from understanding the history before them and from people with a wide array of specialties.
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1,386,094,500 | 2013-12-03 18:15:00+00:00 | {"Bitcoin": [919, 978, 1244, 1350, 2173, 2205, 2661, 3381, 3482]} | {"Bitcoin": [9]} | How Did 'Bitcoin Jesus' Become a Virtual Currency Millionaire? | https://finance.yahoo.com/news/did-bitcoin-jesus-become-virtual-181500133.html | Entrepreneur | http://www.entrepreneur.com/ | The astronomical rise in the value ofbitcoin—which has surged more than 8,000 percent over the course of 2013—has created a new breed of digital currency multimillionaires.
The 34-year-old Roger Ver began investing in bitcoins in early 2011—and made his first million from the virtual currency that same year—which saw prices skyrocket from around $0.30 to $32 before settling at $2. He bought his first bitcoins at around $1.
With prices currently hovering above $1,000, his virtual wealth has since exploded. Ver says he doesn't feel "richer" but that his wealth is "much more liquid than it would be in a normal bank account."
Ver is one of hundreds of investors that have struck it big with bitcoin. But his association with the virtual currency extends far beyond just owning it.
He has helped seed about a dozen different businesses involving bitcoin and actively promotes the currency, earning him the nickname "Bitcoin Jesus."
"I believe Peter Vessenes [chairman of the Bitcoin Foundation] gave me the title when we were at a BBQ together. I was explaining bitcoin to about two dozen high school kids. The kids were all enthralled by bitcoin, and hanging on my every word," he told CNBC.
"Peter then commented that 'it's like you are a Bitcoin Jesus, and you have all your disciples around you'," he added.
Related:Black Friday: A Chance for Bitcoin to Get Some Mainstream Love
His venture MemoryDealers.com, a website that sells discounted computer parts, became the first mainstream business to accept bitcoins as payment. It's also worth noting that it was through this business that he made his first million, in dollar terms, back in 2003.
Ver's nickname is as colorful as his past. Born and raised in Silicon Valley, he moved to Tokyo, Japan in 2005 after serving 10 months in federal prison for selling a product called "Pest Control Report 2000"—which he described as a firecracker used by farmers to keep animals away from their cornfields—oneBay.
Play Video
Why the bitcoin economy could go mainstream Patrick Murck, Principal & Founde
Before that, in 2000, he tried his hand in politics, running for California State Assembly as a Libertarian, but lost.
Bitcoins are 'incredibly cheap'
Bitcoin's meteoric rise in the recent weeks has led to concerns that it may be a speculative bubble, but Ver doesn't believe this is a concern for him.
At $1,000, Ver regards bitcoin as "incredibly cheap," noting that if it gains in popularity as he anticipates, each bitcoin would be worth tens or hundreds of thousands of dollars.
"The rapid price rise is due to people with money starting to realize how important of an invention bitcoin is," he said.
"Bitcoin will experience many bubbles along its way to improving the lives of everyone on the planet. I'm not concerned with the short-term price fluctuations," he added.
Ver, who currently uses bitcoins to pay factories in China to produce electronics components for his company, says he plans to use them "to promote the ideas of Voluntaryism and economic freedom" in the future.
This past weekend, Ver made the largest-ever bitcoin-based charitable donation. Ver donated 1,000 bitcoins (more than $1 million) to theFoundation for Economic Education—an American organization that promotes the principles oflaissez-faireeconomics, private property, and limited government to students.
Related:3 Big Misconceptions About Bitcoin
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1,386,101,610 | 2013-12-03 20:13:30+00:00 | {"Bitcoin": [92, 177, 362, 519, 880, 1169, 1315, 1684, 2995, 3252, 3400]} | {"Bitcoin": [73]} | GoCoin Partners With Boys & Girls Clubs of Santa Monica to Revolutionize Bitcoin Philanthropy on Giving Tuesday | https://finance.yahoo.com/news/gocoin-partners-boys-girls-clubs-201330230.html | Marketwired | http://www.marketwired.com/ | SANTA MONICA, CA--(Marketwired - Dec 3, 2013) - GoCoin, a leading payment platform for the Bitcoin economy, today announced it is participating in Giving Tuesday by asking the Bitcoin community to contribute to its#GO4Goodcampaign and raise money for the Boys & Girls Clubs of Santa Monica (BGCSM).
Through its online campaign to highlight the positive uses of Bitcoin, GoCoin's#GO4Goodcampaign asks participants to tweet using the hashtag on Giving Tuesday and the GoCoin founders will donate $10 per tweet and match Bitcoin donations up to $10,000. Donations to the BGCSM will benefit at-risk youth and under-privileged families in the same community where the GoCoin US team resides: Santa Monica, Calif. Last year, Giving Tuesday involved more than 2,500 partners, raising $10 million via online charitable giving.
"Some of the most progressive retail brands are joining the Bitcoin revolution," said Steve Beauregard, GoCoin's founder and CEO. "We are opening the playing field for charitable and political campaign contributions as well. Giving has never fully recovered from the financial crisis of 2008, but people want to give, and that's especially true for Bitcoin investors."
BGCSM is the first of the Boys & Girls Clubs of America to take donations in the revolutionary peer-to-peer digital currency. Bitcoin donations to the Clubs will be instantly and securely converted into U.S. dollars. GoCoin's trusted payment platform has been in private beta with a targeted client base of e-commerce and charitable merchants since early November.
"We are thrilled to be the first of the Boys & Girls Clubs of America, and one of the first non-profits in Los Angeles to welcome Bitcoin users," said Aaron Young, BGCSM CEO. "Not only is our goal to stay on the cutting edge of technology, but to also provide as many options as possible for our community to support and contribute to our efforts to help those in need."
About Boys & Girls Clubs of Santa MonicaFounded in 1944,Boys & Girls Clubs of Santa Monicacurrently serves approximately 8,000 youth through memberships and community outreach. The Boys & Girls Clubs of Santa Monica now has nine sites, with two more opening up in 2013. Youth come to the Clubs from all over Los Angeles County, Santa Monica, Culver City, Venice, West Los Angeles and Inglewood. Members pay a $20 annual fee for access to all Club amenities and programs that span across education, leadership, recreation and more. The Club operates with the objective of serving children from all backgrounds, regardless of economic circumstances -- ensuring that youth ages 6 to 18 have a safe and nurturing environment to develop socially, succeed in school, stay physically active and prepare for positive futures. For more information, visit us atwww.smbgc.org, or follow us on Facebook (facebook.com/smbgcfan) and Twitter (twitter.com/SMBGC).
About GoCoinThe GoCoin international payment platform makes it easier than ever for online and retail merchants to accept Bitcoin as a payment method. While payments infrastructure over the last half-century was designed to hold funds for as long as possible, while extracting maximum fees from consumers and merchants, GoCoin enables merchants to reap the benefits of accepting Bitcoin. GoCoin takes all of the perceived risk of accepting the digital currency on behalf of merchants. Founded in July 2013, GoCoin will process Bitcoin payments for online and brick and mortar retailers, bypassing the often cumbersome and insecure options of virtual exchanges and other third parties. For more information, please visithttp://www.gocoin.com. |
1,386,121,436 | 2013-12-04 01:43:56+00:00 | {"Bitcoin": [1793]} | {} | A California Woman Got A Traffic Ticket For Driving With Google Glass | https://finance.yahoo.com/news/california-woman-got-traffic-ticket-014356389.html | Business Insider | http://www.businessinsider.com/ | Zugaldia, Flickr
What could be the first ever court case for driving with Google Glass is in the works.
The woman who got the ticket is fighting it, reportsthe AP's Justin Pritchard.
The gist of the story is this: In October, a California High Patrol officer pulled over Cecilia Abadie in the L.A. area for suspicion of speeding. Abadie was one of about 10,000 "explorers" who bought Glass earlier this year. She was wearing the device and when the cop saw it, he added a citation given to people driving with a video or TV in the car.
But the woman says Glass wasn't on while she was driving. She says Glass turned itself on later, when she was stopped and lifted her head to look at the officer standing at her window. Glass can automatically turn itself on when the head is tilted.
It's an interesting case because Abadie and her lawyer are arguing that the citation for driving with a video screen on shouldn't apply to wearable mobile devices such as Google Glass.
Some states, like Delaware, New Jersey and West Virginia, are already working on laws that would specifically ban driving with Glass, reports Pritchard.
But in states that don't have those laws, can other distracted driving laws cover Glass? And can they cover Glass when it's not turned on? And should states ban wearable tech like Glass while driving at all, or should they be considered in the category of a hands-free mobile phone accessory? Using a hands-free device to talk on the phone is legal in California,according to its Department of Motor Vehicles.
Some of these questions could be figured out in January when the case will be heard in court.
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1,386,126,000 | 2013-12-04 03:00:00+00:00 | {"Bitcoin": [7061]} | {} | Forex: Dollar Tumbles as Risk Appetite Slides | https://finance.yahoo.com/news/forex-dollar-tumbles-risk-appetite-030000541.html | DailyFX | http://www.dailyfx.com/ | Talking Points:
• Dollar Tumbles as Risk Appetite Slides…
• Yen Crosses Stumble but Have Yet to Reverse
• Australian Dollar Mixed Bag after RBA, Now for 3Q GDP
Dollar Tumbles as Risk Appetite Slides…
Risk appetite was on the retreat this past session led by sizable losses for global equities and broad declines for the yen crosses. And yet, the US dollar ended the same day in the red. Once again, FX traders are left questioning the position of the greenback as a safe haven when it can’t capitalize on the most substantive correction in capital markets in two months. The divergence in performance is certainly an important observation, but it doesn’t necessarily indicate a systemic change to the world’s most liquid currency. Following the principle of Occam’s razor,the simpler explanation is often the correct one. Rather than speak to a fundamental change in the greenback from low-yield reserve to high-flying risk currency, we are instead looking at a situation where conviction in the risk theme itself has yet to build sustainable momentum. Add to that the growing distraction in Taper speculation, and the parking break for hearty dollar trend is still on.
Moving forward, dollar traders have to gauge both the intensity of risk trends and the speculation surrounding the Fed’s policy plans for the coming three months. Shaping the latter theme, the upcoming US session brings two particularly noteworthy indicators on which to benchmark the suitability of pulling back on accommodation earlier rather than later: theADP employment change and ISM service sector reportfor November. Both offer an update on employment – one of the two mandates for the FOMC. Yet, with the NFPs due Friday, an override of the wait-and-see approach likely requires a significant ‘surprise’. The Beige Book is also due at 19:00 GMT. Though the report card the Fed will use to judge its next policy decision, it will still struggle to divert traders’ attention. The greatest threat to a big move for the dollar and broader FX and capital markets likely rests with risk trends. If the S&P 500 moves to a fourth consecutive drop, it will be more difficult for traders to ignore.
Yen Crosses Stumble but Have Yet to Reverse
The 20-day (1 trading month) correlation between EURJPY and the S&P 500 is 0.72 – exceptionally high – and it has maintained this tight relationship over the months. In contrast, EURUSD’s tracking of the benchmark risk index is materially weaker at 0.39. The yen crosses in general are proving far more sensitive to the ebb and flow in risk trends. That connection has led to a market-wide advance for the Japanese currency through this morning. The Nikkei 225 has dropped 2.4 percent (over 380 points) today from its highest close in six years just the day before. Risk trends were on meaningfully weaker over the previous 24 hour cycle. Now the burden is on trend generation. Does the sharp drop mean general sentiment is turning over into a committed selloff? It is too early to judge.If capital market selling pressure persists into the upcoming European and US sessions, a temporary stall from pairs like USDJPY and EURJPY may turn into tangible retracements.
Australian Dollar Mixed Bag after RBA, Now for 3Q GDP
Yet another active morning for Australian fundamentals. Yesterday, the RBA (Reserve Bank of Australia) kept to the same script it has used at its previous few meetings by holding its monetary policy bearings while lamenting the level of the currency. Talking about their concern over the level of Aussie dollar however means little traders. Suggestions that the exchange rate is high and that a lower level is likely needed to stabilize growth isn’t an active verbal threat to actively intervene in the market – and even under those circumstances the market is dubious. That said, the currency proved more responsive to an otherwise modest miss inthis morning’s data: 3Q GDP. The 0.6 percent performance through last quarter was a modest miss of the consensus, yet theAUDis down between 0.2 (AUDNZD) and 1.0 percent (AUDJPY) in Wednesday trade.
Euro Strong Despite Worst Capital Market Performance in Months
The euro was a mixed bag Tuesday, but the EURUSD advance stood out. An advance on the day is noteworthy when we measure it against the tremendous decline in the Euro-area’s capital markets. The Euro Stoxx index tumbled 2.1 percent through the past session for the worst single day decline since August 20. This decline strikes a dramatic picture on charts and would suggest that we are seeing a heavy speculative shift if it were not for the heavy event risk ahead. Yet, with NFPs on Friday and the ECB Thursday, there is incentive to shy away from a strong risk move. Meanwhile, the drop in the Eurozone factory price index dropped to its lowest level in nearly 4 years.
Canadian Dollar Extends Decline ahead of BoC Rate Decision
The Canadian dollar was majors’ worst performer this past session even though the docket was empty. The USDCAD’s climb to three-year highs in subjugation to a troubled US currency is an indication of the loonie’s trouble to draw appeal through either its ill-fitting carry or reserve currency status. We may see both fundamental titles further slip in the coming session as the docket offers up the BoC rate decision and October trade report. The IMF recently suggested the central bank can defer lifting rates until 2015. Will they agree?
British Pound: Fundamental Threshold for Sustained Rally Growing
The sterling is one of the best performing currencies over the past month as an improved economic outlook has upgraded the country’s interest rate forecast. Yet, with each leg higher, there is a greater level of expectation for growth and favorable yield. Outpacing the global economy is difficult to do over a consistent time frame; and as optimistic as the yield scenario is, the BoE is highly unlikely to hike until mid-2015 – and the market recognizes these probabilities. We will continue toabsorb data point by data point with the November services report due today.
Gold’s Positive Close a Stall, Not Recovery
Gold bugs needed a ‘win’. Yet, the tepid 0.3 percent pickup this past session hardly makes up for the heavy 2.7 percent tumble the metal suffered Monday. The commodity is still suffering an identity crisis that is proving structural rather than simply cyclical. Traditional safe havens (currencies and sovereign bonds) are stable enough to keep the metal far from touching the theme. Meanwhile, there are few concerns of inflation. The focus remains on the need for gold as an alternative to central bank-manipulated currencies.If all four major central banks(Fed, ECB, BoE and BoJ)were simultaneously engaged in active stimulus programs, the market may suspend its concerns about the commodity’s shortfall and bid it higher. Yet, the ECB is still seeing its balance sheet shrink, the market is pricing in the first BoE hike and there are concerns of a Fed Taper. Further, there is a new candidate for the ‘alternative’ space that may be sapping gold’s appeal as well: Bitcoin and other digital currencies. Though loaded with its own imperfections, the virtual currency has drawn a lot of speculative alternatives seekers.**Bring the economic calendar to your charts with theDailyFX News App.
ECONOMIC DATA
[{"GMT": "0:01", "Currency": "GBP", "Release": "BRC Shop Price Index (YoY) (NOV)", "Survey": "", "Previous": "-0.5%", "Comments": ""}, {"GMT": "0:30", "Currency": "AUD", "Release": "Gross Domestic Product (QoQ) (3Q)", "Survey": "0.7%", "Previous": "0.6%", "Comments": "Although the Aussi took a break from its continuous decline on Tuesday, a deviation from the expectation here could spur the next move."}, ["0:30", "AUD", "Gross Domestic Product (YoY) (3Q)", "2.6%", "2.6%"], {"GMT": "1:45", "Currency": "CNY", "Release": "HSBC/Markit PMI Services (NOV)", "Survey": "", "Previous": "52.6", "Comments": "The manufacturing print on Monday beat estimates by 0.3."}, {"GMT": "8:15", "Currency": "CHF", "Release": "Industrial Production (YoY) (3Q)", "Survey": "", "Previous": "-1.1%", "Comments": ""}, {"GMT": "8:45", "Currency": "EUR", "Release": "Italian PMI Services (NOV)", "Survey": "", "Previous": "50.5", "Comments": "Italian PMI Services has only been over 50 twice since the summer of 2011. Eurozone Services PMI has been above 50 since August, but momentum has appeared weak since then. For volatility in EUR pairs, keep an eye out for GDP at 10:00."}, ["8:50", "EUR", "French PMI Services (NOV F)", "48.8", "48.8"], {"GMT": "8:55", "Currency": "EUR", "Release": "German PMI Services (NOV F)", "Survey": "54.5", "Previous": "54.5", "Comments": ""}, {"GMT": "9:00", "Currency": "EUR", "Release": "Euro-Zone PMI Services (NOV F)", "Survey": "50.9", "Previous": "50.9", "Comments": ""}, {"GMT": "9:00", "Currency": "EUR", "Release": "Euro-Zone PMI Composite (NOV F)", "Survey": "51.5", "Previous": "51.5", "Comments": ""}, {"GMT": "9:30", "Currency": "GBP", "Release": "PMI Services (NOV)", "Survey": "62.0", "Previous": "62.5", "Comments": "U.K. PMI services hasn\u2019t been this high in the 10 year record."}, ["9:30", "GBP", "Official Reserves (Changes) (NOV)", "", "-$208M"], {"GMT": "10:00", "Currency": "EUR", "Release": "Euro-Zone Gross Domestic Product s.a. (QoQ) (3Q P)", "Survey": "0.1%", "Previous": "0.1%", "Comments": "Though an update from the initially reported 3Q GDP reading, this round of data offers more details on the backdrop for growth. Trouble in domestic consumption, investment or exports can guide expectations for the future"}, ["10:00", "EUR", "Euro-Zone Gross Domestic Product s.a. (YoY) (3Q P)", "-0.4%", "-0.4%"], {"GMT": "10:00", "Currency": "EUR", "Release": "Euro-Zone Household Consumption (QoQ) (3Q P)", "Survey": "0.1%", "Previous": "0.2%", "Comments": ""}, {"GMT": "10:00", "Currency": "EUR", "Release": "Euro-Zone Gross Fixed Capital (QoQ) (3Q P)", "Survey": "0.0%", "Previous": "0.3%", "Comments": ""}, {"GMT": "10:00", "Currency": "EUR", "Release": "Euro-Zone Government Expenditure (QoQ) (3Q P)", "Survey": "0.0%", "Previous": "0.4%", "Comments": ""}, {"GMT": "10:00", "Currency": "EUR", "Release": "Euro-Zone Retail Sales (MoM) (OCT)", "Survey": "0.1%", "Previous": "-0.6%", "Comments": ""}, {"GMT": "10:00", "Currency": "EUR", "Release": "Euro-Zone Retail Sales (YoY) (OCT)", "Survey": "1.0%", "Previous": "0.3%", "Comments": ""}, {"GMT": "12:00", "Currency": "USD", "Release": "MBA Mortgage Applications (NOV 29)", "Survey": "", "Previous": "-0.3%", "Comments": ""}, {"GMT": "13:15", "Currency": "USD", "Release": "ADP Employment Change (NOV)", "Survey": "170K", "Previous": "130K", "Comments": "Estimate lowered from 173K to 170K over the past week."}, {"GMT": "13:30", "Currency": "CAD", "Release": "International Merchandise Trade (C$) (OCT)", "Survey": "-0.65B", "Previous": "-0.44B", "Comments": "Deficit for 21 straight months"}, {"GMT": "13:30", "Currency": "USD", "Release": "Trade Balance (OCT)", "Survey": "-$40.0B", "Previous": "-$41.8B", "Comments": "A sustained drop in imports outside of energy may speak to weakening consumer-led growth"}, {"GMT": "15:00", "Currency": "CAD", "Release": "Bank of Canada Interest Rate Decision", "Survey": "1.00%", "Previous": "1.00%", "Comments": "The IMF recommends a hold to 2015"}, {"GMT": "15:00", "Currency": "USD", "Release": "ISM Non-Manufacturing Composite (NOV)", "Survey": "55.0", "Previous": "55.4", "Comments": "Key Employment component"}, {"GMT": "15:00", "Currency": "USD", "Release": "New Home Sales (OCT)", "Survey": "430K", "Previous": "", "Comments": "New Home Sales data delayed from the government shutdown will be critical data that the Fed will certainly consider in their decision of when to taper asset purchases."}, ["15:00", "USD", "New Home Sales (MoM) (OCT)", "", ""], {"GMT": "15:30", "Currency": "USD", "Release": "DOE U.S. Crude Oil Inventories (NOV 29)", "Survey": "", "Previous": "2953K", "Comments": "Demand shows a slide in growth potential, supply \u2013 domestic output"}, ["15:30", "USD", "DOE U.S. Implied Oil Demand (NOV 29)", "", ""], {"GMT": "23:50", "Currency": "JPY", "Release": "Japan Buying Foreign Bonds (Yen) (NOV 29)", "Survey": "", "Previous": "1405.6B", "Comments": "Heading into the year end, an increase in capital gains tax in Japan can lead to a significant shift in exposure"}, ["23:50", "JPY", "Japan Buying Foreign Stocks (Yen) (NOV 29)", "", "-91.6B"], {"GMT": "23:50", "Currency": "JPY", "Release": "Foreign Buying Japan Bonds (Yen) (NOV 29)", "Survey": "", "Previous": "-209.3B", "Comments": ""}, {"GMT": "23:50", "Currency": "JPY", "Release": "Foreign Buying Japan Stocks (Yen) (NOV 29)", "Survey": "", "Previous": "707.5B", "Comments": ""}]
[{"GMT": "1:30", "Currency": "JPY", "Upcoming Events & Speeches": "BoJ's Takehiro Sato Speaks on Japanese Economy"}, {"GMT": "15:00", "Currency": "USD", "Upcoming Events & Speeches": "SEP/OCT New Home Sales Released Jointly Due to Shutdown"}, {"GMT": "19:00", "Currency": "USD", "Upcoming Events & Speeches": "Federal Reserve Releases Beige Book Survey"}]
SUPPORT AND RESISTANCE LEVELS
To see updated SUPPORT AND RESISTANCE LEVELS for the Majors, visitTechnical Analysis Portal
To see updated PIVOT POINT LEVELS for the Majors and Crosses, visit ourPivot Point Table
CLASSIC SUPPORT AND RESISTANCE
[["Currency", "USD/MXN", "USD/TRY", "USD/ZAR", "USD/HKD", "USD/SGD", "", "Currency", "USD/SEK", "USD/DKK", "USD/NOK"], ["Resist 2", "13.4800", "2.1000", "10.7250", "7.8165", "1.3650", "", "Resist 2", "7.5800", "5.8950", "6.5135"], ["Resist 1", "13.2400", "2.0850", "10.5000", "7.8075", "1.3250", "", "Resist 1", "6.8155", "5.8475", "6.2660"], ["Spot", "13.2063", "2.0404", "10.2752", "7.7523", "1.2564", "", "Spot", "6.5674", "5.5108", "6.1227"], ["Support 1", "12.6000", "1.9140", "9.3700", "7.7490", "1.2000", "", "Support 1", "6.0800", "5.3350", "5.7450"], ["Support 2", "12.4200", "1.9000", "8.9500", "7.7450", "1.1800", "", "Support 2", "5.8085", "5.2715", "5.5655"]]
INTRA-DAY PROBABILITY BANDS 18:00 GMT
[{"CCY": "Res 3", "EUR/USD": "1.3640", "GBP/USD": "1.6476", "USD/JPY": "104.16", "USD/CHF": "0.9170", "USD/CAD": "1.0726", "AUD/USD": "0.9190", "NZD/USD": "0.8280", "EUR/JPY": "141.01", "Gold": "1250.59"}, {"CCY": "Res 2", "EUR/USD": "1.3614", "GBP/USD": "1.6445", "USD/JPY": "103.88", "USD/CHF": "0.9151", "USD/CAD": "1.0705", "AUD/USD": "0.9167", "NZD/USD": "0.8256", "EUR/JPY": "140.64", "Gold": "1243.73"}, {"CCY": "Res 1", "EUR/USD": "1.3588", "GBP/USD": "1.6415", "USD/JPY": "103.61", "USD/CHF": "0.9132", "USD/CAD": "1.0685", "AUD/USD": "0.9144", "NZD/USD": "0.8233", "EUR/JPY": "140.26", "Gold": "1236.87"}, {"CCY": "Spot", "EUR/USD": "1.3537", "GBP/USD": "1.6354", "USD/JPY": "103.06", "USD/CHF": "0.9094", "USD/CAD": "1.0644", "AUD/USD": "0.9098", "NZD/USD": "0.8185", "EUR/JPY": "139.51", "Gold": "1223.15"}, {"CCY": "Supp 1", "EUR/USD": "1.3486", "GBP/USD": "1.6293", "USD/JPY": "102.51", "USD/CHF": "0.9056", "USD/CAD": "1.0603", "AUD/USD": "0.9052", "NZD/USD": "0.8137", "EUR/JPY": "138.76", "Gold": "1209.43"}, {"CCY": "Supp 2", "EUR/USD": "1.3460", "GBP/USD": "1.6263", "USD/JPY": "102.24", "USD/CHF": "0.9037", "USD/CAD": "1.0583", "AUD/USD": "0.9029", "NZD/USD": "0.8114", "EUR/JPY": "138.38", "Gold": "1243.73"}, {"CCY": "Supp 3", "EUR/USD": "1.3434", "GBP/USD": "1.6232", "USD/JPY": "101.96", "USD/CHF": "0.9018", "USD/CAD": "1.0562", "AUD/USD": "0.9006", "NZD/USD": "0.8090", "EUR/JPY": "138.01", "Gold": "1250.59"}]
v
---Written by: John Kicklighter,ChiefStrategist for DailyFX.com
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1,386,141,903 | 2013-12-04 07:25:03+00:00 | {"Bitcoin": [0, 229, 387, 734, 945, 1024, 1537, 1630, 1943, 2777, 2949, 3154]} | {"Bitcoin": [0]} | Bitcoin Alternative Quark (QRK) Increases In Value 500% In The Last Week | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-alternative-quark-qrk-increases-072503725.html | null | https://guce.yahoo.com/terms?locale=en-US | Bitcoin Alternative Quark (QRK) Has Increased in Value Over 500% in The Past Week - Features Accessible CPU Only Mining.
December 4th, 2013 /MarketersMedia/ -- On July 21, 2013new digital currency Quark (QRK)was announced on the Bitcointalk forum; an open source blockchain based digital currency using six different hashing functions-designed to be more secure and easier to spend than Bitcoin. The Quark protocol has a blockchain speed of just 30 seconds with a high per block reward. Transactions take only three minutes to confirm. It is also geared towards CPU mining, making it accessible for anyone with a computer to mine. Quark currently has over 20 merchants accepting it as a payment method, and the currency is traded for Bitcoin on digital currency exchanges Cryptsy, Coins-E, and Bter and will soon open up on Chinese exchange btc38.com. As of the time of writing one Quark is currently trading for $0.20 USD per QRK equivalent in Bitcoin: this is an increase of over 500 percent in just one week. The Quark / Bitcoin currency pair on Cryptsy has the highest volume by far of all the 92 digital currency pairs which can be traded there. The project has an extremely active community, with already two forums dedicated to Quark; there are wallet clients for Mac, Windows, and Linux.
One of Quark`s developers, Kolin Evans, was recently interviewed by Bill Still of the Still Report as part of a four day feature on Quark which ended on Thanksgiving Day. Kolin explained the purpose of the Quark currency is to build on what Bitcoin has accomplished and improve it to make it less centralized and more accessible than Bitcoin. Quark is also designed to be mined with CPUs rather than specialized hardware such as ASICs; meaning that anyone worldwide with a computer can mine QRK.
With a blocktime speed of just 30 seconds and a transaction confirm time of just three minutes (6 blocks), Quark is fast, alleviating some of the long Bitcoin transaction confirm wait times. Security is a top priority for Quark. With nine rounds of hashing using six different hashing functions, the Quark network is not only secure for the present, but is well prepared to deal with future unknowns. With a short term for mining the majority of the coins-out of 247 million to be mined in the first six months, 245 million have already been mined-this ensures that additional mining will not dilute the value of the currency. However, there will never be less than a one QRK reward per block, amounting to an annual increase of one million QRK, or a yearly inflation of 0.5 percent. Quark is also designed to be mined with CPUs rather than specialized hardware such as ASICs, meaning that anyone with a computer can mine them.
Two features make Quark easier to use as a currency than Bitcoin. First is the larger amount of coin that will be placed in circulation - 247 million (plus an additional one million per year) compared to only 21 million ever for Bitcoin. This makes it possible to deal in whole units of currency, or at least large decimals, rather than thousandths of units, or out to the third and fourth decimal place, as is becoming standard with Bitcoin. Second, the annual inflation rate provides an additional motivation to actually spend Quarks rather than view them as an asset to hold or speculate on. As of this writing, over 20 merchants already accept Quark as payment and with its recent acceptance byCoinPayments.net, many more will soon follow.
Quark comes on the scene at a time when interest in cryptocurrencies has never been higher. Within days of being announced it could be traded on three different exchanges, making it possible for many people to hold it. It can and always will be primarily mined with CPU`s - ordinary computers. By the end of the initial six months when the vast majority will already be mined, Quark will have a broad base of support among users. This combined with its quick adoption by merchants makes it a good choice for spendable currency.
With its multiple hash protocol, its availability to people with limited resources to buy or mine, and its large market cap of 247 million, Quark is poised to not only be a solid digital currency investment but a usable currency as well. Online merchants worldwide are able to accept Quark for payment by using CoinPayments.net, and QRK is about to be listed on the Chinese exchange btc38.com. Quark is well positioned to quite possibly bring huge benefits to both investors and end users.
Visithttp://quarkcoin.comfor more information.
Contact InfoName: Kolin EvansOrganization: Quark (QRK)Email: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747585 |
1,386,141,903 | 2013-12-04 07:25:03+00:00 | {"Bitcoin": [0, 229, 387, 734, 945, 1024, 1537, 1630, 1943, 2777, 2949, 3154]} | {"Bitcoin": [0]} | Bitcoin Alternative Quark (QRK) Increases In Value 500% In The Last Week | https://finance.yahoo.com/news/bitcoin-alternative-quark-qrk-increases-072503725.html | null | https://guce.yahoo.com/terms?locale=en-US | Bitcoin Alternative Quark (QRK) Has Increased in Value Over 500% in The Past Week - Features Accessible CPU Only Mining.
December 4th, 2013 /MarketersMedia/ -- On July 21, 2013new digital currency Quark (QRK)was announced on the Bitcointalk forum; an open source blockchain based digital currency using six different hashing functions-designed to be more secure and easier to spend than Bitcoin. The Quark protocol has a blockchain speed of just 30 seconds with a high per block reward. Transactions take only three minutes to confirm. It is also geared towards CPU mining, making it accessible for anyone with a computer to mine. Quark currently has over 20 merchants accepting it as a payment method, and the currency is traded for Bitcoin on digital currency exchanges Cryptsy, Coins-E, and Bter and will soon open up on Chinese exchange btc38.com. As of the time of writing one Quark is currently trading for $0.20 USD per QRK equivalent in Bitcoin: this is an increase of over 500 percent in just one week. The Quark / Bitcoin currency pair on Cryptsy has the highest volume by far of all the 92 digital currency pairs which can be traded there. The project has an extremely active community, with already two forums dedicated to Quark; there are wallet clients for Mac, Windows, and Linux.
One of Quark`s developers, Kolin Evans, was recently interviewed by Bill Still of the Still Report as part of a four day feature on Quark which ended on Thanksgiving Day. Kolin explained the purpose of the Quark currency is to build on what Bitcoin has accomplished and improve it to make it less centralized and more accessible than Bitcoin. Quark is also designed to be mined with CPUs rather than specialized hardware such as ASICs; meaning that anyone worldwide with a computer can mine QRK.
With a blocktime speed of just 30 seconds and a transaction confirm time of just three minutes (6 blocks), Quark is fast, alleviating some of the long Bitcoin transaction confirm wait times. Security is a top priority for Quark. With nine rounds of hashing using six different hashing functions, the Quark network is not only secure for the present, but is well prepared to deal with future unknowns. With a short term for mining the majority of the coins-out of 247 million to be mined in the first six months, 245 million have already been mined-this ensures that additional mining will not dilute the value of the currency. However, there will never be less than a one QRK reward per block, amounting to an annual increase of one million QRK, or a yearly inflation of 0.5 percent. Quark is also designed to be mined with CPUs rather than specialized hardware such as ASICs, meaning that anyone with a computer can mine them.
Two features make Quark easier to use as a currency than Bitcoin. First is the larger amount of coin that will be placed in circulation - 247 million (plus an additional one million per year) compared to only 21 million ever for Bitcoin. This makes it possible to deal in whole units of currency, or at least large decimals, rather than thousandths of units, or out to the third and fourth decimal place, as is becoming standard with Bitcoin. Second, the annual inflation rate provides an additional motivation to actually spend Quarks rather than view them as an asset to hold or speculate on. As of this writing, over 20 merchants already accept Quark as payment and with its recent acceptance byCoinPayments.net, many more will soon follow.
Quark comes on the scene at a time when interest in cryptocurrencies has never been higher. Within days of being announced it could be traded on three different exchanges, making it possible for many people to hold it. It can and always will be primarily mined with CPU`s - ordinary computers. By the end of the initial six months when the vast majority will already be mined, Quark will have a broad base of support among users. This combined with its quick adoption by merchants makes it a good choice for spendable currency.
With its multiple hash protocol, its availability to people with limited resources to buy or mine, and its large market cap of 247 million, Quark is poised to not only be a solid digital currency investment but a usable currency as well. Online merchants worldwide are able to accept Quark for payment by using CoinPayments.net, and QRK is about to be listed on the Chinese exchange btc38.com. Quark is well positioned to quite possibly bring huge benefits to both investors and end users.
Visithttp://quarkcoin.comfor more information.
Contact InfoName: Kolin EvansOrganization: Quark (QRK)Email: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747585 |
1,386,142,321 | 2013-12-04 07:32:01+00:00 | {"Bitcoin": [0, 394]} | {"Bitcoin": [0]} | Bitcoin Alternative Franko (FRK) Merchant Adoption Soaring - Value Increases Another 500% | https://finance.yahoo.com/news/bitcoin-alternative-franko-frk-merchant-073201491.html | null | https://guce.yahoo.com/terms?locale=en-US | Bitcoin alternative Franko Experiences another week of 500% gains in value with more and more merchants accepting franko (FRK) as a payment method.
December 4th, 2013 /MarketersMedia/ -- Franko (FRK), thefair, rare and fast digital currency, has risen in value by another 500%, right after last week`s 500% increase in value. As of the time of writing, one FRK is now worth over six dollars in Bitcoin equivalent. Merchant adoption rates of Franko are also soaring, with E Pawn, a nine-store chain in Atlanta, recently announcing they are accepting payment in Franko. Merchant adoption is set to further increase as CoinPayments.net has just integrated Franko support into its popular crypto payment gateway and invoicing solutions for merchants.
Thanksgiving week saw an incredible rise in value of many digital currencies. Franko`s rise stands out after seeing five-fold gains for two weeks in a row. Franko can be traded on Cryptsy and Coins-E, and Franko trading will also be included in the soon to be launched Copia Market.
CoinPayments, the crypto payment gateway which has fueled merchant adoption of many digital currencies has just announced Franko support to its growing list of supported currencies. Online merchants wishing to accept Franko as a payment method can now easily issue invoices in Franko and accept FRK through Coinpayments` solutions. CoinPayments allows merchant invoicing as well as instant Franko payments through their merchant payment gateway solutions.
E Pawn is the largest chain of pawn shops in Atlanta; with a great selection of items for people to buy at bargain prices. In a world first it is the first bricks and mortar store on the planet to accept payment in Franko. Crypto-knight.org has also just announced it is now selling Franko for cash.
With both value and merchant adoption rates soaring (including the bricks and mortar variety) Franko is poised to be a winner in the currently exploding digital currency space. Even more importantly, behind Franko is a solid, healthy and growing ecosystem. This bodes well for the longevity and continued value of the increasingly popular digital currency.
Official Franko website:http://www.frankos.org/
Franko Payment Processor For Online Merchant Payment Gateways and Invoicing in FRK:http://coinpayments.net
Visithttp://www.frankos.org/for more information.
Contact InfoName: Christopher FrankoOrganization: FrankoEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747586 |
1,386,142,504 | 2013-12-04 07:35:04+00:00 | {"Bitcoin": [0, 127, 329, 889, 933, 942, 978, 2020, 3551], "BTC": [1137, 1159]} | {"Bitcoin": [70]} | Devcoin (DVC) Value Increases 300% in Two Weeks - Ethical Merge Mined Bitcoin Alternative | https://finance.yahoo.com/news/devcoin-dvc-value-increases-300-073504074.html | null | https://guce.yahoo.com/terms?locale=en-US | Bitcoin alternative Devcoin`s Value has risen 300% in the space of two weeks. The ethical digital currency is merge mined with Bitcoin and supports open source projects worldwide.
December 3rd, 2013 /MarketerMedia/ -- In 2011 theunique digital currency Devcoinwas launched; an ethically inspired open source project based on the Bitcoin protocol, with the unique mission of funding open source projects created by programmers, hardware developers, writers, musicians, painters, graphic artists and filmmakers worldwide. When the market cap of Devcoin reaches a certain point, a significant reward will be offered for the development of an open source spacecraft. Devcoin is one of the longest running blockchain based digital currencies, which means the currency`s network itself is well established and has proven itself to be robust and reliable. The main difference between Devcoin and Bitcoin is that Devcoin is merge mined with Bitcoin; Bitcoin miners can mine Devcoin and Bitcoin simultaneously, essentially earning "free coins" for supporting the Devcoin network.
In the last month, Devcoin has risen in value from 0.00000014 per BTC to 0.00000053 per BTC. Each block of DVC yields 50 000 Devcoin - so Devcoin is often traded in lots of 1 000 0000 or more: 1 000 000 DVC has increased in value over 300% from $145 USD to $548.90 USD in the space of two weeks. Devcoin`s market capitalization is currently $3 239 000 USD.
Being an established alternative digital currency, Devcoin has a healthy and growing ecosystem with over 15 merchants and exchanges supporting DVC. Books, precious metals, jewellery, computer hardware, hard cash, press releases, writing services, lotto tickets, digital currency investments and much more can all be purchased with DVC. Online merchants worldwide can easily accept DVC as a payment method by using CoinPayments, for integrated Devcoin payment at checkout and invoicing in DVC. The popular digital currency exchange platforms Vircurex and Crypto-Trade both support Devcoin and Bitcoin trading, while Cryptsy offers a Devcoin to Litecoin currency pair.
At the current market cap, significant bounties payable in Devcoin are being offered for an open source aircraft (a hot air balloon which is at least 3 metres in diameter), medicine, fortified food, a boardgame, and a new open source toy. When the market capitalization of Devcoin reaches a certain point, a massive bounty will be offered for the development of an open source 1 seater spacecraft which can exit and enter the Earth`s atmosphere. Digital currency enthusiasts who are also passionate about easier access to space for all of humanity, can support this cause in a practical way by supporting Devcoin.
Anyone worldwide who wants to work and produce open source material can earn Devcoins: writers can sign up to Devtome, Devcoin`s open source wiki and be paid in DVC for their work. Devcoin is also currently reaching out to open source developers in IT, engineering, arts, sciences and humanities who wish to receive Devcoins for their work. Anyone, anywhere can apply for funding by joining the bitcointalk forums or contacting [email protected]. Devcoin ensures that no one on the planet who wants to work needs be completely out of money: anyone who does good work will get some Devcoins. In this way Devcoin levels the playing field for anyone worldwide to earn digital currency and participate in this erupting space.
With its unique paradigm changing mission, its network integrity through being one of the first and most established Bitcoin alternatives, and its recent 300% value increase: Devcoin is a wise choice for investors, enthusiasts, open source developers and visionaries worldwide looking to engage with the explosive digital currency space. As the emerging digital currency industry continues to experience a break out, Devcoin is better positioned than ever to begin delivering in an even bigger way on its unique and world-changing mission.
To learn more please go to:http://devcoin.org
To trade Devcoin please go to:http://vircurex.com
Visithttp://devcoin.orgfor more information.
Contact InfoName: Devcoin MediaOrganization: DevcoinEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747587 |
1,386,142,980 | 2013-12-04 07:43:00+00:00 | {"Bitcoin": [7, 50, 150, 254, 342, 415, 516, 566, 634, 740, 905, 945, 1058, 1101, 1136, 1205, 1348, 1623, 1681, 1863, 1934, 2309, 2430, 2583, 2671, 2776, 3079]} | {"Bitcoin": [16, 57]} | Anyone Can Mine Bitcoin From Anywhere With Revolutionary Bitcoin ASIC Cloud Mining | https://finance.yahoo.com/news/anyone-mine-bitcoin-anywhere-revolutionary-074202185.html | null | https://guce.yahoo.com/terms?locale=en-US | Mining Bitcoin has become big business, with ASIC Bitcoin mining machines costing many thousands of dollars. For everyday people looking to earn some Bitcoin from mining, cloud mining is the answer.
December 4th, 2013 /MarketersMedia/ -- With the recent Bitcoin to USD exchange rate skyrocketing many people worldwide are now looking to mine Bitcoin easily with ASICs and mint themselves some digital currency.
New Bitcoin cloud mining platform CEX.IO is meeting this demand; anyone worldwide can noweasily purchase Bitcoin ASIC mining shares and generate a passive Bitcoin mining incomewithout needing to buy, set up and configure a Bitcoin mining machine. The CEX.IO operation is highly professional: offering 24/7 customer support and a Bitcoin mining guarantee. In the rare event there is ever a problem with CEX.IO`s mining equipment in their datacenter, all affected customers will be reimbursed in Bitcoin for their mining losses. Mining Bitcoin with ASICs is now more accessible than ever; anyone can create a CEX.IO account in minutes, deposit some Bitcoin (there is no minimum) and buy some Bitcoin ASIC mining shares. Users` Bitcoin cloud hashing mining shares will begin mining and generating Bitcoin immediately after purchase on the exchange.
The benefits of cloud hashing with CEX.IO are many; no need to buy, set up and configure a Bitcoin ASIC miner, worry about power consumption, connectivity issues, or noise and heat from the hardware. CEX.IO takes care of all of the details so users can get what they really want; theability to purchase as much hashing power as they can afford and start mining some Bitcoin with the ASICs in CEX.IO`s datacenter.
Beyond the Bitcoin mining revenue which purchased cloud hashing shares generate - users also receive Devcoin, Namecoin and IXCoin for free into their accounts. These coins are merge mined with Bitcoin and so in essence are "free coins". Namecoin can be traded for Bitcoin at CEX.IO, and all three of these established digital currencies can be traded on many other cryptocurrency exchanges online.
The CEX.IO cloud hashing platform also offers an open exchange where users buy and sell their ASIC mining shares; the price is dictated by the open market on the CEX.IO exchange. As well as the mining shares themselves, users can also trade Bitcoin and Namecoin; with plans being made to add IXCoin and Devcoin trading as soon as possible. All hash-rates on the Bitcoin cloud mining platform are guaranteed, and customers always have the option to sell their mining equipment at market price if need be.
With their Bitcoin ASIC mining hash-rate guarantee, the included merge mined coins, the integrated Bitcoin exchange, and the professionalism of the platform - CEX.IO may well be one of the most promising Bitcoin startups to emerge in the last few months. Perhaps, CEX.IO say it best "We advise you to become a member of the CEX.IO exchange platform as soon as possible".
To learn more please go to:http://cex.io
Visithttps://cex.io/r/1/psybits/0/for more information.
Contact InfoName: CEX..IOOrganization: Bitcoin ASIC Cloud Mining
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747590 |
1,386,143,161 | 2013-12-04 07:46:01+00:00 | {"Bitcoin": [0, 330, 1005, 1699, 1812, 2785, 2825, 3000, 3277, 3307, 3520, 4198]} | {"Bitcoin": [36, 57]} | Transact at Five Times The Speed of Bitcoin With Popular Bitcoin Alternative DigitalCoin | https://finance.yahoo.com/news/transact-five-times-speed-bitcoin-074601655.html | null | https://guce.yahoo.com/terms?locale=en-US | Bitcoin alternative DigitalCoin is rising in popularity. As of the 22nd of November 2013, the DGC market capitalization rose more than 40% in the last 24 hours alone.
December 4th, 2013 /MarketersMedia/ -- In May 2013 DigitalCoin (DGC) was launched: a decentralized, peer 2 peer, blockchain based digital currency inspired by the Bitcoin protocol. The DigitalCoin project is geared for success and has key infrastructure in place; there is a paper wallet generator, android wallet, and applications for Mac, Windows, Linux. Over 15 online merchants and services currently accept DGC and this number is ever-increasing. The digital currency is currently traded on Cryptsy, Vircurex and CryptoTrade. DigitalCoin was designed to be a digital currency for the masses that retains value, and does not experience as much price volatility as some other crypto currencies. This regard for stability is inherent in the DGC design. It is optimized for performance and with transaction speeds five times faster than Bitcoin it is one of the fastest ways to send and receive transactions in the world. As of the 22nd of November 2013, the DGC market capitalization rose more than 40% in the last 24 hours alone. In other words, in the last 24 hours DigitalCoin has risen in value by 40%.
The health of a digital currency can often be measured by the extent and growth of its ecosystem. Beyond the faster transaction speeds DigitalCoin has a robust ecosystem; with an increasing number of DigitalCoin exchanges and services opening their doors. The CryptoAve.com exchange is launching shortly; a new digital currency exchange developed by the DigitalCoin dev team which will have shares tradable in DigitalCoin, Bitcoin, Litecoin, Argentum, SecureCoin and traditional fiat currencies. Currently DigitalCoin can be traded for Bitcoin at Cryptsy, Vircurex and CryptoTrade. A full list of the diverse and growing DigitalCoin services and exchanges available can be seen athttp://digitalcoin.co/spend/
Unlike the developers of most digital currencies; team DGC is ceaselessly working on improving the options available to DGC users. Anyone worldwide can earn and spend DGC for advertising at DigiClick.co; an online advertising platform designed by the DGC dev team with DGC at its core. The DigitalCoin team has also developed a paper wallet generator, android wallet, and applications for Mac, Windows, Linux. DigitalCoin`s dev team is highly active; ensuring the ongoing smooth operation of the DGC protocol and ready to get their hands dirty with coding if any problems should arise.
From a technical standpoint, the DigitalCoin protocol has been designed with speed, ease of use and value retention in mind. The digital currency has a block target of just 40 seconds - over five times faster than Bitcoin`s transaction speed. Similar to Bitcoin the block reward of 15 DigitalCoin will halve approximately every 3 years; ensuring DGC possesses the properties inherent to rare currencies/commodities such as Gold, Bitcoin and silver. There will be 200 000 000 DigitalCoin minted in total. With DigitalCoin market capitalization rising more than 40% in the last 24 hours alone, and possessing a blockchain that is only 200 days old - it appears the future is bright for this fast transacting Bitcoin alternative.
With the Bitcoin to USD exchange rate rise of over 1000% over the past year, many individuals worldwide are exploring the emerging opportunities provided by digital currencies. DigitalCoin is a contender for the strongest Bitcoin alternative; with its active dev team, fast transaction speeds, growing number of merchants, and its ever expanding infrastructure available to both investors and users.
Official DigitalCoin website:http://digitalcoin.co
DigitalCoin services and exchanges:http://digitalcoin.co/spend/
For the technically minded here are the DigitalCoin (DGC) protocol details:- Similar to Litecoin, DigitalCoin utilizes a Scrypt based cryptographic algorithm for proof of work.- 40 second block target.- 15 DGC per block reward, halves approximately every 3 years. Halving the block reward gives DGC the increasing rarity properties that currencies/commodities such as gold, silver and Bitcoin possess.- 200 000 000 DigitalCoin will be minted in total.
Visithttp://digitalcoin.cofor more information.
Contact InfoName: DigitalCoin FoundationEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747591 |
1,386,143,343 | 2013-12-04 07:49:03+00:00 | {"Bitcoin": [78, 125, 282, 389, 726, 803, 856, 971, 1020, 1168, 1300, 1434, 1473, 1661, 1861, 1963, 1998, 2070, 2101, 2164, 2427, 2546, 2583, 2724, 2780, 2869, 2930, 3001, 3082, 3134, 3301, 3549, 3761, 3866, 4041, 4128, 4219, 4271], "BTC": [162, 426, 2127, 3357, 3567]} | {"Bitcoin": [9, 49]} | Automate Bitcoin Bot Trading With Industry Grade Bitcoin Trading Platform Cryptotrader.org | https://finance.yahoo.com/news/automate-bitcoin-bot-trading-industry-074802504.html | null | https://guce.yahoo.com/terms?locale=en-US | Cryptotrader.org was the first Bitcon trading platform in the world to enable Bitcoin traders to backtest and automate their Bitcoin trading strategies on MtGox, BTC-e and BitStamp.
December 4th, 2013 /MarketersMedia/ --Cryptotrader.orgis the first algorithmic trading platform for Bitcoin and other cryptocurrencies in the world. The service allows traders to backtest and automate their Bitcoin trading strategies on MtGox, BTC-e and BitStamp, via a flexible built-in scripting language based on CoffeeScript. For the trader`s convenience these trading strategies can be fully automated by utilizing trading robots running on their scalable VPS cloud. Users without programming skills can still use the platform to backtest Bitcoin trading strategies and implement these with Cryptotrader`s automated Bitcoin trading bot solutions.
In the last month the Bitcoin to USD exchange rate has shot up to its highest level since April - currently trading for over $200 USD on Bitcoin exchanges worldwide. In January 2013 the Bitcoin market cap was under one quarter of a billion USD. Now, in November 2013, the market cap is over two and a half billion USD. The value of a Bitcoin, which dictates the market cap, has grown over ten-fold over this period; from just $13 in January 2013 to over $200 today. Bitcoin has vastly outperformed all traditional investment vehicles on the market today worldwide. Concurrent with this rapid rate of Bitcoin adoption and price growth, the Bitcoin network itself has seen a quadrupling of its raw hashing power in just the last two months: from 1000 Thash/s to over 4000 Thash/s as of this moment. The exponential growth of the Bitcoin market cap, exchange value and the hashing power of the network, illustrates a profitable technological phenomenon which is exploding in popularity and value worldwide.
With the rapid rise of Bitcoin and the currency`s volatility many traders are seeking to capitalize on these fluctuations in Bitcoin price. When applied to the Bitcoin market automated trading systems are powerful tools for trading Bitcoin automatically on large Bitcoin exchanges such as BTC-e, BitStamp and MtGox. Automated Bitcoin trading systems enable traders to set specific rules for opening and closing trades; once these have been programmed into the trading bot and are in place the trades can be automatically executed via a computer. In this way traders can "set and forget" a Bitcoin trading strategy; they do not need to be online constantly making trades as the programmed robot will make the Bitcoin trades for them.
Backtesting Bitcoin trading algorithms - applying trading strategies retrospectively to historical market data - is a powerful tool for the professional Bitcoin trader to assess the profitability of different Bitcoin trading strategies before applying them to the live market. Harnessing automated Bitcoin trading and having the ability to backtest different Bitcoin trading strategies is essential to the success of professional Bitcoin traders.
Cryptotrader.org is an algorithmic trading platform that allows Bitcoin traders to both backtest and automate their Bitcoin trading strategies via a flexible built-in scripting language based on Coffeescript. In other words, anyone with minimal programming skills can backtest their Bitcoin trading ideas on historical MtGox, BitStamp and BTC-e market data. The scripting engine API includes integration of TA lib and Underscore JS. Users without any programming skills can still run any trading algorithm of their choice to trade Bitcoin at Mtgox, BTC-e or Bitstamp.
Cryptotrader provides a cloud solution that allows anyone, with no programming skills, to run trading bitcoin bots on a secure VPS cloud with one easy click. The professional Bitcoin trading tools available at Cryptotrader.org have been designed to be as easy to use as possible. Bitcoin traderssimply register an account at Cryptotrader.organd then upgrade their account to enable automated trading.
With its professional grade backtesting and automatic Bitcoin trading tools, Cryptotrader.org brings industry grade financial instruments to Bitcoin traders worldwide. Cryptotrader contributes greatly to the liquidity of the global Bitcoin ecosystem overall, and enables professional Bitcoin traders to easily and profitably speculate on this digital currency which is exploding in popularity worldwide.
Visithttps://cryptotrader.org/for more information.
Contact InfoName: Alex ChizhEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747592 |
1,386,143,343 | 2013-12-04 07:49:03+00:00 | {"Bitcoin": [78, 125, 282, 389, 726, 803, 856, 971, 1020, 1168, 1300, 1434, 1473, 1661, 1861, 1963, 1998, 2070, 2101, 2164, 2427, 2546, 2583, 2724, 2780, 2869, 2930, 3001, 3082, 3134, 3301, 3549, 3761, 3866, 4041, 4128, 4219, 4271], "BTC": [162, 426, 2127, 3357, 3567]} | {"Bitcoin": [9, 49]} | Automate Bitcoin Bot Trading With Industry Grade Bitcoin Trading Platform Cryptotrader.org | https://finance.yahoo.com/news/finance.yahoo.com/news/automate-bitcoin-bot-trading-industry-074802504.html | null | https://guce.yahoo.com/terms?locale=en-US | Cryptotrader.org was the first Bitcon trading platform in the world to enable Bitcoin traders to backtest and automate their Bitcoin trading strategies on MtGox, BTC-e and BitStamp.
December 4th, 2013 /MarketersMedia/ --Cryptotrader.orgis the first algorithmic trading platform for Bitcoin and other cryptocurrencies in the world. The service allows traders to backtest and automate their Bitcoin trading strategies on MtGox, BTC-e and BitStamp, via a flexible built-in scripting language based on CoffeeScript. For the trader`s convenience these trading strategies can be fully automated by utilizing trading robots running on their scalable VPS cloud. Users without programming skills can still use the platform to backtest Bitcoin trading strategies and implement these with Cryptotrader`s automated Bitcoin trading bot solutions.
In the last month the Bitcoin to USD exchange rate has shot up to its highest level since April - currently trading for over $200 USD on Bitcoin exchanges worldwide. In January 2013 the Bitcoin market cap was under one quarter of a billion USD. Now, in November 2013, the market cap is over two and a half billion USD. The value of a Bitcoin, which dictates the market cap, has grown over ten-fold over this period; from just $13 in January 2013 to over $200 today. Bitcoin has vastly outperformed all traditional investment vehicles on the market today worldwide. Concurrent with this rapid rate of Bitcoin adoption and price growth, the Bitcoin network itself has seen a quadrupling of its raw hashing power in just the last two months: from 1000 Thash/s to over 4000 Thash/s as of this moment. The exponential growth of the Bitcoin market cap, exchange value and the hashing power of the network, illustrates a profitable technological phenomenon which is exploding in popularity and value worldwide.
With the rapid rise of Bitcoin and the currency`s volatility many traders are seeking to capitalize on these fluctuations in Bitcoin price. When applied to the Bitcoin market automated trading systems are powerful tools for trading Bitcoin automatically on large Bitcoin exchanges such as BTC-e, BitStamp and MtGox. Automated Bitcoin trading systems enable traders to set specific rules for opening and closing trades; once these have been programmed into the trading bot and are in place the trades can be automatically executed via a computer. In this way traders can "set and forget" a Bitcoin trading strategy; they do not need to be online constantly making trades as the programmed robot will make the Bitcoin trades for them.
Backtesting Bitcoin trading algorithms - applying trading strategies retrospectively to historical market data - is a powerful tool for the professional Bitcoin trader to assess the profitability of different Bitcoin trading strategies before applying them to the live market. Harnessing automated Bitcoin trading and having the ability to backtest different Bitcoin trading strategies is essential to the success of professional Bitcoin traders.
Cryptotrader.org is an algorithmic trading platform that allows Bitcoin traders to both backtest and automate their Bitcoin trading strategies via a flexible built-in scripting language based on Coffeescript. In other words, anyone with minimal programming skills can backtest their Bitcoin trading ideas on historical MtGox, BitStamp and BTC-e market data. The scripting engine API includes integration of TA lib and Underscore JS. Users without any programming skills can still run any trading algorithm of their choice to trade Bitcoin at Mtgox, BTC-e or Bitstamp.
Cryptotrader provides a cloud solution that allows anyone, with no programming skills, to run trading bitcoin bots on a secure VPS cloud with one easy click. The professional Bitcoin trading tools available at Cryptotrader.org have been designed to be as easy to use as possible. Bitcoin traderssimply register an account at Cryptotrader.organd then upgrade their account to enable automated trading.
With its professional grade backtesting and automatic Bitcoin trading tools, Cryptotrader.org brings industry grade financial instruments to Bitcoin traders worldwide. Cryptotrader contributes greatly to the liquidity of the global Bitcoin ecosystem overall, and enables professional Bitcoin traders to easily and profitably speculate on this digital currency which is exploding in popularity worldwide.
Visithttps://cryptotrader.org/for more information.
Contact InfoName: Alex ChizhEmail: [email protected]
###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1747592 |
1,386,172,800 | 2013-12-04 16:00:00+00:00 | {"Bitcoin": [124, 360, 459, 1132, 1364, 1773, 1951, 2435, 2604, 2738, 3556, 3613, 3745, 4017], "BTC": [1223, 1263]} | {"Bitcoin": [102], "BTC": [39]} | Backed by $5 Million in Funding (4,700 BTC), Mastercoin Is Building a Flexible, New Layer of Money on Bitcoin | https://finance.yahoo.com/news/backed-5-million-funding-4-160000183.html | Marketwired | http://www.marketwired.com/ | SEATTLE, WA--(Marketwired - Dec 4, 2013) - Developers of Mastercoin (www.mastercoin.org), a programmable money layer on the Bitcoin blockchain created by J.R. Willett, today announced that they have officially launched the Mastercoin Foundation (www.mastercoinfoundation.org) to help build a distributed exchange and facilitate smart property transactions for Bitcoin powered by the Mastercoin Protocol.
The Mastercoin Foundation is backed by just over 4,700 Bitcoins (approximately $5 million USD) raised by Mastercoin and Willett in its initial sale to investors, led by David Johnston of the BitAngels, in August 2013. Ron Gross was named as executive director of the new foundation. Previously, Gross was CEO and co-founder of bitBlu, a cryptocurrency portfolio management platform startup. It already boasts a branch in Israel with others soon to come in China and the United Kingdom.
Though still experimental, in just a little more than 90 days of operation on the blockchain (trading commenced September 1, 2013), Mastercoin overall is trading at a market cap of $132 million USD, or slightly higher than one percent of all Bitcoins. Over this time, Mastercoin has also seen its individual value increase from 0.01 BTC (approximately $1 in August) to 0.2 BTC (approximately $220), representing a 220x increase in value in just a little more than 90 days.
"Bitcoin is not only proving to be a sturdy foundation to support all kinds of commercial activities, but to also support a secondary layer such as Mastercoin," said Willett. "While Mastercoin is still at a high-risk stage and we expect the usual setbacks, we are confident it will continue to grow in usefulness as we build out its service properties through the foundation. That, in turn, will also help the Bitcoin ecosystem as a whole expand."
As part of its official launch, the Mastercoin Foundation is also creating a new distributed exchange where traders can buy, sell and trade Bitcoins through the Mastercoin layer, as well as conduct other smart property transactions and activities like sales and fund transfers. The foundation supports the open-source development of the distributed exchange software but will not have an operational role in the exchange itself.
"While Mastercoin itself is decentralized, the Mastercoin Foundation will be instrumental in helping to continue to make Mastercoin the conduit through which people can practically apply and use Bitcoin," added Gross. "Whether it's personal money transfer, payment fulfillment, issuing user currencies and future event triggers, or simply conducting and recording Bitcoin transactions, Mastercoin is the perfect operational unit, and its continued growth will proceed to drive the overall value of Bitcoin at large."
The primary features of Mastercoin (MSC) include:
• A decentralized exchange: the Mastercoin network itself serves as a fully functional exchange between any two currencies in the Mastercoin network. Anyone can place an order on the blockchain to trade a quantity of one currency for another, and anyone else can match the orders and have the trade complete automatically without the order poster's further involvement.
• On-blockchain price feeds: trusted organizations can publish price data (e.g. the value of one ounce of gold in USD), which can then be used in Mastercoin scripts to essentially create digital currency that tracks gold, silver or other precious commodities.
• Savings addresses, providing an additional level of security for high-value savings accounts.
About Mastercoin - The Bitcoin Currency LayerMastercoin (MSC) is a crowdfunded, Bitcoin blockchain currency layer that allows for a plethora of new digital currencies and property sales to be created through the Bitcoin blockchain. The Mastercoin Protocol removes the typical broker level (and fees) from financial transactions, restoring trust as the keystone element in trade. The principles of Mastercoin were first developed in J.R. Willett's Jan. 6, 2012, white paper,The Second Bitcoin Whitepaper. To learn more about Mastercoin, please visithttp://www.mastercoin.org.
About the Mastercoin FoundationThe Mastercoin Foundation is a non-profit organization whose mission is to enable and accelerate innovation worldwide by building a technological crowd-sourcing platform for community projects, coupled with a rich financial-exchange system and liquidity layer. Members use the Mastercoin Open Source Project and Protocol precedents as benchmarks for their enforcement standards. For more information, please visithttp://www.mastercoinfoundation.org. |
1,386,176,125 | 2013-12-04 16:55:25+00:00 | {"Bitcoin": [8874]} | {} | Meet the Preliminary 2014 Dogs of the Dow: Dividends Galore | https://finance.yahoo.com/news/meet-preliminary-2014-dogs-dow-165525349.html | 24/7 Wall St. | http://247wallst.com | There is a trend at the end of each year followed by many income investors. This is the Dogs of the Dow, which is simply made up of the 10 Dow Jones Industrial Average (DJIA) components that have the highest common stock dividend yields. This is widely followed at the start and end of each year, but it has merit all throughout each year because these companies attract so many different dividend strategy investors. The following look as though they will be the top five Dogs of the Dow for 2014: AT&T Inc. (NYSE: T ), Verizon Communications Inc. ( VZ ), Intel Corp. ( INTC ), Merck & Co. Inc. ( MRK ), McDonald's Corp. ( MCD ) and Chevron Corp. ( CVX ). ALSO READ: The Best & Wort Run States: Survey of All 50 24/7 Wall St. has identified the basics on each component for these 10 Dogs of the Dow. We have also given color on each to see what could drive each one higher or lower in 2014. All these companies are systemically important or they are sector movers on their own right. Another issue to consider for 2014 is that there will be some serious changes to the Dogs of the Dow, barring any major performance changes in the final three weeks of 2013. Consensus estimates were also based on Thomson Reuters data. ALSO READ: Six Things That Could Cause Stocks to Drop 20% Remember that share performance can alter many of these positions by the time the year ends. That imminent dividend hike from General Electric Co. ( GE ) could drastically alter the order of these, as could any serious portfolio repositioning at the end of the year. AT&T Inc. (NYSE: T ) is the king of dividends, with a 5.2% yield now that shares have sold off to around $34.50. AT&T's consensus price target is barely above $37, and a fresh analyst downgrade from J.P. Morgan is highlighting what may be continued cellphone trend erosion in 2014. Then there is the risk that it will make a huge international acquisition, which is the last opportunity for serious growth as regulators are not going to allow it to gobble up anything of real size in the United States. AT&T is a repeat as the leading dividend or the top dog in the Dogs of the Dow. Story continues Verizon Communications Inc. ( VZ ) is again the number-two position in the Dogs of the Dow strategy. With shares close to $49.60, its yield is just under 4.3%. Its post-Vodafone deal is adding to earnings, and the telecom giant added debt on the cheap in the largest debt offering of its kind. A lot of the good news may be priced in since it is up so much from its 52-week low of $41.50, but the consensus price target is up just over $54 for the next 12-month period. ALSO READ: Market Strategist Sees Stocks Rising 20% in 2014 Intel Corp. ( INTC ) ranks as the number three likely candidate in the dividend strategy, with a dividend yield of almost 3.8%. Intel remains in catch-up mode as it has only just recently begun making an entrance into smartphone and tablet processors arena, even if it dominates in desktop processors. At $23.75, its consensus price target is $24.42 and the 52-week high is $25.98. We outlined before its most recent earnings report that Intel could be a stealth growth stock masquerading as a value stock, and how its stock could ultimately rise to $30 and beyond. Merck & Co. Inc. ( MRK ) has been a victim of the ongoing patent cliff affecting the Big Pharma sector. At $49.60, Merck is actually less than a buck under its 52-week high, and the consensus price target is up at $51.42. It yields 3.55% as of now. Merck can still lift its dividend if it wants, but the company faces a revenue growth issue, and changes in health care laws may pose "fee" challenges in the coming years. The company also is restructuring, and that could go either way over the next year or two. McDonald's Corp. ( MCD ) now has moved up the ladder in its rank from 2013 to 2014 as the fifth highest yield of almost 3.4%. Shares trade around $96, and its runaway stock performance seems to have leveled off handily, even if shares are up more than 12% so far in 2013. Its consensus price target is almost the same as its 52-week high: $103.84 target vs. $103.70 high. It is hard to imagine what can drive McDonald's higher at the moment. It faces labor cost issues ahead, the move to a healthier menu is not proving to be a vast success and many do not believe it can grow as much as the company has tried to forecast. ALSO READ: Five Big Analyst Stocks to Sell in 2014 Chevron Corp. ( CVX ) is new to the Dogs, and this is because its dividend hike was substantial and shares have lagged the DJIA performance with gains of "only" 17% so far in 2013. At $122.50, the yield is almost 3.3%, and we have already grown to expect another big dividend hike in 2014. Analysts have a consensus price target above $133 for Chevron, and the obvious caveat is that much depends on its ability to manage production costs, along with where the price of oil goes in 2014. Cisco Systems Inc. ( CSCO ) is also making its debut as a Dogs member because 1) its share price tanked after the last earnings report and 2) its dividend hike was rather large considering where it started from. At $21.30, the dividend yield is 3.2%, while its consensus price target is $23.85 and its 52-week high is all the way up at $26.49. Business was signaled as having fallen off the cliff by John Chambers in the latest quarter and analysts bagged it hard. Now Cisco's restructuring gains may be deemed a failure, unless the company can rekindle some of its lost business. You could even make the likely argument that it has an "accidentally high dividend" now. Pfizer Inc. ( PFE ) is generally a Dogs member and this year is a repeat. All of the same issues facing Merck seem to be an echo at Pfizer and the $31.40 share price compares to a consensus price target of $32.75 and a 52-week high of $32.50. Its dividend yield is much lower than Merck's at 3.05%, so Pfizer may need to catch up in that department. Pfizer has already had one recent spin-off and its revenue is expected to decline marginally again in 2014. E.I. du Pont de Nemours and Co. ( DD ), or simply DuPont, is another repeat Dog, and its dividend yield is currently 2.95%. At $60.55, its consensus price target is $64.00, and the 52-week high is $62.69. DuPont is carving out its lower growth businesses to unlock value, and it could be worth $5 billion by some estimates, versus a total market cap of about $56 billion. ALSO READ: Top Export Winners to Watch for 2014 Microsoft Corp. ( MSFT ) was a serious gainer in the Dow, and we did not have it as a member of the Dogs of the Dow in 2013. At $38.50, its stock has risen almost 50% so far in 2013. Microsoft offers a 2.9% dividend yield since it raised its payout by almost 22%. With a new chief executive coming soon, a restructuring into a post-Windows company and large buybacks ahead, Microsoft has become the unexpected stealth winner. One word of caution: the stock hit multiyear highs at $38.90 and the consensus analyst target price is down at $36.32 for the next year. Caterpillar Inc. ( CAT ) was not a Dog in 2013, but its stock price drop of 5% so far in 2013 makes it among the worst DJIA stocks of the year. As the last position in the Dogs, it is possible that Caterpillar could get bounced out of the preliminary Dogs of the Dow for 2014 (see runner-ups below). A coming dividend hike from General Electric Co. ( GE ) could drive Caterpillar out of the Dogs as well, assuming it is substantial enough and assuming Caterpillar shares do not make a big run late in the year from bargain hunters. Adding 15% more to its payout also drove it higher into the Dogs of the Dow. Its $84.20 share price generates a dividend yield of 2.85%. The consensus estimate was well over $100 at one point, but the performance and expectations have driven the consensus target price down to about $90.50. Caterpillar's 52-week range is $79.49 to $99.70. If the emerging markets and heavy infrastructure and mining/land projects come back, then maybe Caterpillar can surprise everyone in 2013. There are several wild cards for the last Dogs of the Dow position, all of which are yielding close to 2.8%. These include General Electric Co. ( GE ), Johnson & Johnson ( JNJ ), Coca-Cola Co. ( KO ), and Procter & Gamble Co. ( PG ). Again, GE is the wild card for sure, because it has a dividend hike likely coming by the end of the second week of December. When you take these into a portfolio for consideration in equal weighting, the yield comes close to 3.5% for the portfolio of the 10 Dogs of the Dow. Some investors get more focused on just the top five dividend yields, and that average would be a yield of just over 4%. Investors love dividends, and the Dogs of the Dow sure generates above-market dividend yields. ALSO READ: Fast Food Chains Costing America the Most Related Articles Ten Brands That Will Disappear in 2014 Can Bitcoin Beat Gold in 2014? States With The Highest Minimum Wages |
1,386,180,720 | 2013-12-04 18:12:00+00:00 | {"Bitcoin": [1028]} | {} | Gold Is Surging | https://finance.yahoo.com/news/gold-surging-181233935.html | Business Insider | http://www.businessinsider.com/ | Gold is having a big day.
The yellow metal is trading around $1247 an ounce, up $26 (or 2.1%) on the day. Much of the price appreciation has come since noon in North American trading, as the chart below shows.
BNN reporter Amber Kanwar says there may be a large buyer in the market:
Gold popping higher right now. Trader tells me a big buyer is in the market. Up ~$25/oz$GLD$GDX@BNN
— Amber Kanwar (@amberkanwar)December 4, 2013
Gold has lost nearly 8 percent in value since October 28. In that span, it has fallen in 17 of 27 trading sessions.
"Tighter monetary policy in the U.S. and rising rates are hanging over the market and could push gold towards $1,100/oz in 2014," wrote BofA Merrill Lynch analysts in a December 2 note to clients. "Yet, while the pause in the bull market may continue, we see several encouraging signs, most notably physical demand from EM, that suggest to us that gold remains a sound medium-term investment."
Thinkorswim
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• Gold Is So Ugly
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1,386,184,200 | 2013-12-04 19:10:00+00:00 | {"Bitcoin": [1806]} | {} | 2 Million More Passwords For Facebook, Google, Twitter, Other Sites Were Stolen And Posted To The Net | https://finance.yahoo.com/news/2-million-more-passwords-facebook-191054295.html | Business Insider | http://www.businessinsider.com/ | Oli Scarff/Getty Images
A computer security researcher has stumbled upon another huge file of stolen user names and passwords that was posted on the 'net for other hackers to enjoy.
Daniel Chechik, and his fellow researchers at Trustwave SpiderLabs,found a cache of user names and passwords for 2 million accounts that gives hackers access to accounts on popular websites like Facebook, Google, Yahoo, Twitter, LinkedIn, and others.
This stash of 2 million passwords follows a massive hack on Adobe revealed in October in whicha jaw-dropping 38 million user accounts and passwords were nabbedand posted to the 'net. That attack was so big that other website vendors were affected, because many people use the same user name and password for all of their websites. Website vendors like Facebook and Evernote sifted through hacked passwords, found accounts using the hacked user/password combo and forced those people to change their passwords.
Evernote evenwent so far as to blame Adobe by nameas the reason why it was forcing Evernote users to change their passwords.
One thing learned from all these lists of stolen passwords is how many people use the same easy-to-guess passwords.
Here are the 25 most popular passwords in the hands of hackers,reported by BBC Newsand SpiderLabs. If you recognize your favorite password here, it's really time to pick something else.
• 123456
• 123456789
• password
• admin
• 12345678
• qwerty
• 1234567
• 111111
• photoshop
• 123123
• 1234567890
• 000000
• abc123
• 1234
• adobe1
• macromedia
• azerty
• iloveyou
• aaaaaa
• 654321
More From Business Insider
• A California Woman Got A Traffic Ticket For Driving With Google Glass
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1,386,184,200 | 2013-12-04 19:10:00+00:00 | {"Bitcoin": [1806]} | {} | 2 Million More Passwords For Facebook, Google, Twitter, Other Sites Were Stolen And Posted To The Net | https://finance.yahoo.com/news/finance.yahoo.com/news/2-million-more-passwords-facebook-191054295.html | Business Insider | http://www.businessinsider.com/ | Oli Scarff/Getty Images
A computer security researcher has stumbled upon another huge file of stolen user names and passwords that was posted on the 'net for other hackers to enjoy.
Daniel Chechik, and his fellow researchers at Trustwave SpiderLabs,found a cache of user names and passwords for 2 million accounts that gives hackers access to accounts on popular websites like Facebook, Google, Yahoo, Twitter, LinkedIn, and others.
This stash of 2 million passwords follows a massive hack on Adobe revealed in October in whicha jaw-dropping 38 million user accounts and passwords were nabbedand posted to the 'net. That attack was so big that other website vendors were affected, because many people use the same user name and password for all of their websites. Website vendors like Facebook and Evernote sifted through hacked passwords, found accounts using the hacked user/password combo and forced those people to change their passwords.
Evernote evenwent so far as to blame Adobe by nameas the reason why it was forcing Evernote users to change their passwords.
One thing learned from all these lists of stolen passwords is how many people use the same easy-to-guess passwords.
Here are the 25 most popular passwords in the hands of hackers,reported by BBC Newsand SpiderLabs. If you recognize your favorite password here, it's really time to pick something else.
• 123456
• 123456789
• password
• admin
• 12345678
• qwerty
• 1234567
• 111111
• photoshop
• 123123
• 1234567890
• 000000
• abc123
• 1234
• adobe1
• macromedia
• azerty
• iloveyou
• aaaaaa
• 654321
More From Business Insider
• A California Woman Got A Traffic Ticket For Driving With Google Glass
• The PC Market Has Shrunk By 10% Because People Don't Want New Ones
• Hackers Are Attacking Millions Of Computers And Demanding Ransom In Bitcoins |
1,386,188,520 | 2013-12-04 20:22:00+00:00 | {"Bitcoin": [118, 239, 376, 1606, 1956, 2017, 2990, 3021, 5333, 5413, 5480, 5535, 6223, 6301, 6323], "BTC": [4994]} | {"Bitcoin": [63]} | Two Guys On Reddit Are Chasing A Thief Who Has $220 Million In Bitcoins | https://finance.yahoo.com/news/two-guys-reddit-chasing-thief-202229564.html | Business Insider | http://www.businessinsider.com/ | screengrab / Matrix Reloaded Trailer
Two guys onReddit who were enraged when someone stole as much as $100 million in Bitcoins from "Sheep Marketplace,"an illegal online drug sales web site, believe the thief has passed the cash through a Bitcoin wallet that at one point contained as much as $220 million.
The thief is currently attempting to hide a stash of at least 96,000 Bitcoins (about $100 million), the pair said in a conversation on Reddit.
The two Reddit users, "SheepReloaded2" and "NodManOut" have become heroes ona subreddit dedicated to tracking the thief. They believe the theft — whichBusiness Insider told you about yesterday— is one of the largest heists in history.
But there is just one problem (for the thief): His haul is so huge it sticks out like a sore thumb whenever he tries to launder the money. And his pursuers believe he will be unable to cash out a sum that large without revealing himself. "He has 1% of the world's bitcoins. Its hard to clean and sell more than 4 or 5 btc at a time," SheepReloaded2 says.
The stakes are high: It's not simply that there is a large amount of stolen cash at stake. Because Sheep Marketplace was a haven for criminals who do business, it's likely that some of the victims in this theft want the perpetrator dead.
"I won't find this guy. Somebody else will," SheepReloaded2 told Reddit. "I assume he'll be jailed, blackmailed, tortured or killed. I dunno."
Warner Bros.
Although the chase is virtual, it "feels" like something from The Matrix — two heroes chasing a thief through the world's computer networks, and the thief has split up his Bitcoin runners into 96 different quarries.
The drama began in late November when the operators of Sheep Marketplace — which had risen to prominance after the FBI took down Silk Road, the previous large, anonymous hub for drug dealers — announced they were closing down because the site was hacked. The hacker fooled users into thinking their online Bitcoin wallets were full when in fact they had been looted.
Bitcoin's "blockchain" ledger keeps track of every single transaction, so anyone can see what happens to the money. And the transactions are so large it's obvious that they involve Sheep Marketplace money.
NodManOut figured out a way to track the money, he posted on Reddit (errors in the original):
... its easy when chasing a big amount so say you transfer 500k and that's.tied to 3 small.deposits ranging from 3-5hundred now you just find which wallet got the 500k. or in this instance he.was.dumping random amounts along the way so wallet would be 498k and keep.following doesn't take a genius, its pretty obvious when you got a bunch of withdraws coming out of the wallet we know was the right one at the amounts of 940k multiple times then he would just.do the same thing with those as I've stated.before.multiple times you can check wallets I've listed already to see for yourself
SheepReloaded2 took NodManOut's advice and began sending the thief tiny fractions of Bitcoins, specifically 0.00666 Bitcoins. The "666" amount helped him follow further transactions involving that tiny sum. Now that SheepReloaded2's money is mixed in with the thief's money, he can see where the stolen money is going — as long as he sends another "666" amount into any new wallet where the money lands.
via DVDBeaver
Thus SheepReloaded2 is always one step behind the thief, but the thief can't shake off SheepReloaded2, he says:
Its like running a marathon through fog, listening for the footsteps of other runners. It helps if there are 96,000 of them, though! ... This guy is good, but he's on his last legs. If he can sell a single bitcoin, I'll be surprised.
He also praised NodManOut for being the first to spot the "exit" the thief had used from Sheep Market:
This is the biggest heist of all time. Is it in the newspapers? No TheNodManOut made the hardest spot - the escape route wallet from sheep. I assume he normally drives round in a van solving mysteries.
... He has 1% of the world's bitcoin. He likes neat whole numbers. When tiny fractions suddenly appear, its obvious he's tumbling them. nearly all the pants in the washing machine are his, so sheep swag mixes with sheep swag,and comes out looking like...er, sheep swag.
Then, he just combines it back together into the same sized lump!
He's probably scared and wished he only had 100 bitcoins. His laptop hard drive is worth millions. Every day he spends another $3million, tumbling his bitcoin with his bitcoin.
Warner Bros.
Tracking the thief is difficult, though, because he is splitting up the haul into smaller and smaller chunks of cash, and each one might be the wallet that allows him to cash out, NodManOut says:
Yeah its tedious because after he splits those down you have to follow that through another 50-100wallets untill he apparently thinks they've been moved safely
Sheepreloaded2 has become manic in his pursuit of the money:
I followed him for hours yesterday, he was creating new wallets, moving 2000 BTC in, waiting for enough confirmations, then moving 2000BTC into the next wallet, leaving the balance at zero.I would see the new wallet before the first confirmation even appeared on the blockchain. I'd point my mobile at the QR code,and send a memorable number. He must have felt he devil was chasing him.
The drama hit a peak when oneBitcoin wallet linked to the Sheep thief was discovered to have roughly 220,000 Bitcoins in it— about $220 million:
Blockchain
A screengrab of the Bitcoin wallet that at one point had more than 220,000 Bitcoins in it.
"No wonder the bitcoin price is high. Half of them are out of circulation!," Sheepreloaded2 told Reddit. He believes the thief lives in the Czech Republic, and has vowed to never stop pursuing him:
I have a computer attached to the internet, so like everyone, I can track every bitcoin wallet for the rest of time.$200M is the largest theft in history. eventually it might get in the newspaper. the police could even assign an officer to look for him.
I asked very politely,you know what us brits are like. But he stole from the wrong guy. I will chase him on foot through hell and out the other side if I have to, so help me god.
More From Business Insider
• The Largest Bitcoin Exchange In The World Went Down Earlier Today
• Why The Fair Price Of Bitcoin Is $0
• Could Bitcoin Ever Stabilize Enough To Replace State Currencies? |
1,386,197,640 | 2013-12-04 22:54:00+00:00 | {"Bitcoin": [1830]} | {} | 10 Competitive Jobs That Everyone Wants But Hardly Anyone Gets | https://finance.yahoo.com/news/finance.yahoo.com/news/10-competitive-jobs-everyone-wants-223920202.html | Business Insider | http://www.businessinsider.com/ | Sony Pictures / Columbia
One of the biggest job stresses is having to fight with competitors and coworkers for clients, commissions, and recognition.
Rather than focusing on your own work, highly competitive fields force you to be constantly aware of what everyone else is doing.
Competition is particularly acute in visible, hard-to-break-into industries like entertainment and sports, jobs that offer lucrative payouts to top performers, and coveted positions with only a limited number of spots.
Sports and talent agents, for example, constantly fight over a small number of high-profile clients. Poets and writers constantly fight to get published and have their work seen. And athletes compete on a daily basis as their job.
Based on datafrom the Occupational Information Network (O*NET), a U.S. Department of Labor database full of detailed information on occupations, below are the 10 most competitive jobs in America. The ranking measures the extent that the job "requires the worker to compete or to be aware of competitive pressures."
Each job is scored on a scale of zero to 100, with a score above 75 denoting a job that's extremely competitive:
1. ChoreographersCompetitiveness score: 96
2. Poets, Lyricists and Creative WritersCompetitiveness score: 95
3.Athletes and Sports CompetitorsCompetitiveness score: 94
4. Sales Agents, Securities and CommoditiesCompetitiveness score: 93
5.Sound Engineering TechniciansCompetitiveness score: 89
6.Makeup Artists, Theatrical and PerformanceCompetitiveness score: 88
7.Music Composers and ArrangersCompetitiveness score: 88
8.Real Estate Sales AgentsCompetitiveness score: 88
9. Coaches and ScoutsCompetitiveness score: 87
10.Agents and Business Managers of Artists, Performers, and AthletesCompetitiveness score: 85
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1,386,197,640 | 2013-12-04 22:54:00+00:00 | {"Bitcoin": [1830]} | {} | 10 Competitive Jobs That Everyone Wants But Hardly Anyone Gets | https://finance.yahoo.com/news/10-competitive-jobs-everyone-wants-223920202.html | Business Insider | http://www.businessinsider.com/ | Sony Pictures / Columbia
One of the biggest job stresses is having to fight with competitors and coworkers for clients, commissions, and recognition.
Rather than focusing on your own work, highly competitive fields force you to be constantly aware of what everyone else is doing.
Competition is particularly acute in visible, hard-to-break-into industries like entertainment and sports, jobs that offer lucrative payouts to top performers, and coveted positions with only a limited number of spots.
Sports and talent agents, for example, constantly fight over a small number of high-profile clients. Poets and writers constantly fight to get published and have their work seen. And athletes compete on a daily basis as their job.
Based on datafrom the Occupational Information Network (O*NET), a U.S. Department of Labor database full of detailed information on occupations, below are the 10 most competitive jobs in America. The ranking measures the extent that the job "requires the worker to compete or to be aware of competitive pressures."
Each job is scored on a scale of zero to 100, with a score above 75 denoting a job that's extremely competitive:
1. ChoreographersCompetitiveness score: 96
2. Poets, Lyricists and Creative WritersCompetitiveness score: 95
3.Athletes and Sports CompetitorsCompetitiveness score: 94
4. Sales Agents, Securities and CommoditiesCompetitiveness score: 93
5.Sound Engineering TechniciansCompetitiveness score: 89
6.Makeup Artists, Theatrical and PerformanceCompetitiveness score: 88
7.Music Composers and ArrangersCompetitiveness score: 88
8.Real Estate Sales AgentsCompetitiveness score: 88
9. Coaches and ScoutsCompetitiveness score: 87
10.Agents and Business Managers of Artists, Performers, and AthletesCompetitiveness score: 85
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1,386,233,933 | 2013-12-05 08:58:53+00:00 | {"Bitcoin": [434], "BTC": [2188]} | {} | China central bank warns banks against use of bitcoin | https://finance.yahoo.com/news/china-central-bank-warns-banks-081701838.html | Reuters | https://www.reuters.com/ | BEIJING (Reuters) - China's central bank warned on Thursday that financial institutions should not trade the digital currency bitcoin, saying that while it does not yet pose a threat to China's financial system, it carries risks. The central bank also said in a statement on its website that it would act to prevent money laundering risks from bitcoin, a prominent digital currency that is not backed by a government or central bank. Bitcoins, and other computer-generated virtual currencies like it, have seen their relative values rise to historic highs in recent months as speculators have piled into the currency. While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. As such they have been heavily covered in domestic media, including a special broadcast on state-run television earlier in 2013. The People's Bank of China (PBOC) may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's closed capital account. However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy. More cause of worry is the way these currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons. The PBOC will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said. The central bank did allow that ordinary individuals were free to use bitcoin, so long as they take on the risk themselves. "I don't think it's good or bad," said bitcoin vendor Du Zhiliang, who sells bitcoin "mining" computers online. Du owns over 2,000 bitcoins himself and has been a heavy speculator in the past. Story continues "The policy won't affect the BTC exchange rate. It means the government acknowledged its existence, and didn't say it's illegal. Now the whole country has their eyes on bitcoin." The value of bitcoins on Chinese platform FXBTC.com fell in heavy volume after the news to about 6,500 yuan per coin at 0830 GMT from around 6,900 yuan. (Reporting by Jonathan Standing, Aileen Wang; Additional reporting by Anita li; Editing by Alex Richardson) |
1,386,233,933 | 2013-12-05 08:58:53+00:00 | {"Bitcoin": [434], "BTC": [2188]} | {} | China central bank warns banks against use of bitcoin | https://finance.yahoo.com/news/finance.yahoo.com/news/china-central-bank-warns-banks-081701838.html | Reuters | https://www.reuters.com/ | BEIJING (Reuters) - China's central bank warned on Thursday that financial institutions should not trade the digital currency bitcoin, saying that while it does not yet pose a threat to China's financial system, it carries risks. The central bank also said in a statement on its website that it would act to prevent money laundering risks from bitcoin, a prominent digital currency that is not backed by a government or central bank. Bitcoins, and other computer-generated virtual currencies like it, have seen their relative values rise to historic highs in recent months as speculators have piled into the currency. While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. As such they have been heavily covered in domestic media, including a special broadcast on state-run television earlier in 2013. The People's Bank of China (PBOC) may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's closed capital account. However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy. More cause of worry is the way these currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons. The PBOC will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said. The central bank did allow that ordinary individuals were free to use bitcoin, so long as they take on the risk themselves. "I don't think it's good or bad," said bitcoin vendor Du Zhiliang, who sells bitcoin "mining" computers online. Du owns over 2,000 bitcoins himself and has been a heavy speculator in the past. Story continues "The policy won't affect the BTC exchange rate. It means the government acknowledged its existence, and didn't say it's illegal. Now the whole country has their eyes on bitcoin." The value of bitcoins on Chinese platform FXBTC.com fell in heavy volume after the news to about 6,500 yuan per coin at 0830 GMT from around 6,900 yuan. (Reporting by Jonathan Standing, Aileen Wang; Additional reporting by Anita li; Editing by Alex Richardson) |
1,386,240,600 | 2013-12-05 10:50:00+00:00 | {"Bitcoin": [0, 103, 365, 639, 866, 940, 950]} | {} | BITCOIN CRASHES AFTER WARNING FROM CHINA | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoin-getting-crushed-090020240.html | Business Insider | http://www.businessinsider.com/ | Bitcoin prices fell from a high of $1,240 to a low of $870 this morning. This is according to data fromBitcoin exchange Mt. Gox.
That $370 drop can by characterized as a 30% crash.
Earlier today, thePeople's Bank of China warnedthat the controversial electronic currency carried risk. It also instructed financial institutions not to trade it.
"Is this a bubble in Bitcoin?" askedformer Federal Reserve Chairman Alan GreenspanWednesday on Bloomberg. "Yeah it's a bubble."
"This is worse than the tulip mania," said Nout Wellink,former president of the Dutch Central Bank. "At least then you got a tulip [at the end], now you get nothing."
Bitcoin has bounced back a bit and it's currently straddling the $1,000 level, which means it's down by around 20% from its high.
Here's a look at the chart fromClark Moody.
Clark Moody
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1,386,240,600 | 2013-12-05 10:50:00+00:00 | {"Bitcoin": [0, 103, 365, 639, 866, 940, 950]} | {} | BITCOIN CRASHES AFTER WARNING FROM CHINA | https://finance.yahoo.com/news/bitcoin-getting-crushed-090020240.html | Business Insider | http://www.businessinsider.com/ | Bitcoin prices fell from a high of $1,240 to a low of $870 this morning. This is according to data fromBitcoin exchange Mt. Gox.
That $370 drop can by characterized as a 30% crash.
Earlier today, thePeople's Bank of China warnedthat the controversial electronic currency carried risk. It also instructed financial institutions not to trade it.
"Is this a bubble in Bitcoin?" askedformer Federal Reserve Chairman Alan GreenspanWednesday on Bloomberg. "Yeah it's a bubble."
"This is worse than the tulip mania," said Nout Wellink,former president of the Dutch Central Bank. "At least then you got a tulip [at the end], now you get nothing."
Bitcoin has bounced back a bit and it's currently straddling the $1,000 level, which means it's down by around 20% from its high.
Here's a look at the chart fromClark Moody.
Clark Moody
More From Business Insider
• At Least 54 Bitcoin Clones Have Been Created Since April
• I'm Changing My Mind About Bitcoin
• Bitcoin Crashes Below $1,000 |
1,386,242,529 | 2013-12-05 11:22:09+00:00 | {"Bitcoin": [948, 3172], "BTC": [1343, 2999, 3433]} | {} | China bars banks from bitcoin transactions | https://finance.yahoo.com/news/china-central-bank-warns-banks-083530231.html | Reuters | http://www.reuters.com/ | By John Ruwitch and Pete Sweeney
SHANGHAI, Dec 5 (Reuters) - China's government banned financial institutions from trading in bitcoin on Thursday, in what analysts said was a restrained first step towards regulating the digital currency that has exploded in popularity in China and soared in value in recent months.
A statement by the central bank and four other agencies said that, while the computer-generated currency does not yet pose a threat to China's financial system, it carries risks. It did not, however, curtail the use of bitcoin by individuals.
"I think it's measured and it's positive," said Zennon Kapron, of the financial consultancy Kapronasia. "It does add legitimacy to the idea that it could be a nationwide accepted currency."
The value of bitcoins on Chinese exchanges fell after the announcement, however, with one expert predicting the price could halve in the short-term. Digital currencies are generally highly volatile.
Bitcoins have seen their value relative to the dollar skyrocket some 800 percent in the past two months as speculators have piled into the currency, according to bitcoinity.org.
While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. Shanghai-based BTC China has recently become the world's largest bitcoin exchange by volume.
A statement on the website of the People's Bank of China (PBOC) said that the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank.
The PBOC may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's capital controls.
However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy.
EYES ON BITCOIN
More cause for worry is the way these digital currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons.
The government will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said.
The notice was issued jointly by the PBOC, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission and the China Securities Regulatory Commission and China Insurance Regulatory Commission.
"This is an industry that will need to be governed or regulated. The safety and the well-being of the common user has to be taken into consideration. All this is expected," said Ron Cao, Managine Director at Lightspeet Venture Partners, which recently invested $5 million in BTC China.
"'We've got a long way to go. This thing needs to be regulated at some point. We're studying it. Don't jump into it.' My read is that's the tone of the message."
Bitcoin traders sold on the Chinese government's announcement.
On the Chinese platform FXBTC.com, the yuan-bitcoin exchange rate dropped as much as about 20 percent after the news before rebounding slightly to around 5,800 yuan per bitcoin in heavy trading.
On BTC-e, the dollar-bitcoin rate had fallen about 11 percent to about $945 from $1,063 before the news.
Cao said he would not be surprised to see the value of bitcoins fall as much as 50 percent over the next week or two.
Many bitcoin proponents say the currency's volatility will have to flatten out before it can be adopted more widely as a near-frictionless means of payment and regulation may help.
More regulation was likely, although the initial ban on financial institutions may eventually be lifted, analysts said.
"I would be cautious about jumping the gun and taking today's announcement as indicative as how the space will be regulated in the future," said Mark Natkin, of Beijing-based Marbridge Consulting.
"Once they have a better idea of how the market works and which players are likely to emerge as the leading players, then they'll come out with firmer regulations, with more specific licensing requirements," and possibly minimum capital requirements for firms entering the sector, he said. |
1,386,242,624 | 2013-12-05 11:23:44+00:00 | {"Bitcoin": [941, 3165], "BTC": [1336, 2992, 3426]} | {} | China bars banks from bitcoin transactions | https://finance.yahoo.com/news/china-central-bank-warns-banks-080434985.html | Reuters | http://www.reuters.com/ | By John Ruwitch and Pete Sweeney
SHANGHAI (Reuters) - China's government banned financial institutions from trading in bitcoin on Thursday, in what analysts said was a restrained first step towards regulating the digital currency that has exploded in popularity in China and soared in value in recent months.
A statement by the central bank and four other agencies said that, while the computer-generated currency does not yet pose a threat to China's financial system, it carries risks. It did not, however, curtail the use of bitcoin by individuals.
"I think it's measured and it's positive," said Zennon Kapron, of the financial consultancy Kapronasia. "It does add legitimacy to the idea that it could be a nationwide accepted currency."
The value of bitcoins on Chinese exchanges fell after the announcement, however, with one expert predicting the price could halve in the short-term. Digital currencies are generally highly volatile.
Bitcoins have seen their value relative to the dollar skyrocket some 800 percent in the past two months as speculators have piled into the currency, according to bitcoinity.org.
While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. Shanghai-based BTC China has recently become the world's largest bitcoin exchange by volume.
A statement on the website of the People's Bank of China (PBOC) said that the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank.
The PBOC may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's capital controls.
However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy.
EYES ON BITCOIN
More cause for worry is the way these digital currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons.
The government will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said.
The notice was issued jointly by the PBOC, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission and the China Securities Regulatory Commission and China Insurance Regulatory Commission.
"This is an industry that will need to be governed or regulated. The safety and the well-being of the common user has to be taken into consideration. All this is expected," said Ron Cao, Managine Director at Lightspeet Venture Partners, which recently invested $5 million in BTC China.
"'We've got a long way to go. This thing needs to be regulated at some point. We're studying it. Don't jump into it.' My read is that's the tone of the message."
Bitcoin traders sold on the Chinese government's announcement.
On the Chinese platform FXBTC.com, the yuan-bitcoin exchange rate dropped as much as about 20 percent after the news before rebounding slightly to around 5,800 yuan per bitcoin in heavy trading.
On BTC-e, the dollar-bitcoin rate had fallen about 11 percent to about $945 from $1,063 before the news.
Cao said he would not be surprised to see the value of bitcoins fall as much as 50 percent over the next week or two.
Many bitcoin proponents say the currency's volatility will have to flatten out before it can be adopted more widely as a near-frictionless means of payment and regulation may help.
More regulation was likely, although the initial ban on financial institutions may eventually be lifted, analysts said.
"I would be cautious about jumping the gun and taking today's announcement as indicative as how the space will be regulated in the future," said Mark Natkin, of Beijing-based Marbridge Consulting.
"Once they have a better idea of how the market works and which players are likely to emerge as the leading players, then they'll come out with firmer regulations, with more specific licensing requirements," and possibly minimum capital requirements for firms entering the sector, he said.
(Additional reporting by Jonathan Standing, Aileen Wang and Anita li; Editing by Alex Richardson) |
1,386,242,624 | 2013-12-05 11:23:44+00:00 | {"Bitcoin": [941, 3165], "BTC": [1336, 2992, 3426]} | {} | China bars banks from bitcoin transactions | https://finance.yahoo.com/news/finance.yahoo.com/news/china-central-bank-warns-banks-080434985.html | Reuters | http://www.reuters.com/ | By John Ruwitch and Pete Sweeney
SHANGHAI (Reuters) - China's government banned financial institutions from trading in bitcoin on Thursday, in what analysts said was a restrained first step towards regulating the digital currency that has exploded in popularity in China and soared in value in recent months.
A statement by the central bank and four other agencies said that, while the computer-generated currency does not yet pose a threat to China's financial system, it carries risks. It did not, however, curtail the use of bitcoin by individuals.
"I think it's measured and it's positive," said Zennon Kapron, of the financial consultancy Kapronasia. "It does add legitimacy to the idea that it could be a nationwide accepted currency."
The value of bitcoins on Chinese exchanges fell after the announcement, however, with one expert predicting the price could halve in the short-term. Digital currencies are generally highly volatile.
Bitcoins have seen their value relative to the dollar skyrocket some 800 percent in the past two months as speculators have piled into the currency, according to bitcoinity.org.
While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. Shanghai-based BTC China has recently become the world's largest bitcoin exchange by volume.
A statement on the website of the People's Bank of China (PBOC) said that the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank.
The PBOC may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's capital controls.
However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy.
EYES ON BITCOIN
More cause for worry is the way these digital currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons.
The government will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said.
The notice was issued jointly by the PBOC, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission and the China Securities Regulatory Commission and China Insurance Regulatory Commission.
"This is an industry that will need to be governed or regulated. The safety and the well-being of the common user has to be taken into consideration. All this is expected," said Ron Cao, Managine Director at Lightspeet Venture Partners, which recently invested $5 million in BTC China.
"'We've got a long way to go. This thing needs to be regulated at some point. We're studying it. Don't jump into it.' My read is that's the tone of the message."
Bitcoin traders sold on the Chinese government's announcement.
On the Chinese platform FXBTC.com, the yuan-bitcoin exchange rate dropped as much as about 20 percent after the news before rebounding slightly to around 5,800 yuan per bitcoin in heavy trading.
On BTC-e, the dollar-bitcoin rate had fallen about 11 percent to about $945 from $1,063 before the news.
Cao said he would not be surprised to see the value of bitcoins fall as much as 50 percent over the next week or two.
Many bitcoin proponents say the currency's volatility will have to flatten out before it can be adopted more widely as a near-frictionless means of payment and regulation may help.
More regulation was likely, although the initial ban on financial institutions may eventually be lifted, analysts said.
"I would be cautious about jumping the gun and taking today's announcement as indicative as how the space will be regulated in the future," said Mark Natkin, of Beijing-based Marbridge Consulting.
"Once they have a better idea of how the market works and which players are likely to emerge as the leading players, then they'll come out with firmer regulations, with more specific licensing requirements," and possibly minimum capital requirements for firms entering the sector, he said.
(Additional reporting by Jonathan Standing, Aileen Wang and Anita li; Editing by Alex Richardson) |
1,386,242,624 | 2013-12-05 11:23:44+00:00 | {"Bitcoin": [941, 3181], "BTC": [1336, 3008, 3442]} | {} | China bars banks from bitcoin transactions | https://finance.yahoo.com/news/china-central-bank-warns-banks-080434835.html | Reuters | https://www.reuters.com/ | By John Ruwitch and Pete Sweeney SHANGHAI (Reuters) - China's government banned financial institutions from trading in bitcoin on Thursday, in what analysts said was a restrained first step towards regulating the digital currency that has exploded in popularity in China and soared in value in recent months. A statement by the central bank and four other agencies said that, while the computer-generated currency does not yet pose a threat to China's financial system, it carries risks. It did not, however, curtail the use of bitcoin by individuals. "I think it's measured and it's positive," said Zennon Kapron, of the financial consultancy Kapronasia. "It does add legitimacy to the idea that it could be a nationwide accepted currency." The value of bitcoins on Chinese exchanges fell after the announcement, however, with one expert predicting the price could halve in the short-term. Digital currencies are generally highly volatile. Bitcoins have seen their value relative to the dollar skyrocket some 800 percent in the past two months as speculators have piled into the currency, according to bitcoinity.org. While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. Shanghai-based BTC China has recently become the world's largest bitcoin exchange by volume. A statement on the website of the People's Bank of China (PBOC) said that the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank. The PBOC may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's capital controls. However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy. Story continues EYES ON BITCOIN More cause for worry is the way these digital currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons. The government will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said. The notice was issued jointly by the PBOC, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission and the China Securities Regulatory Commission and China Insurance Regulatory Commission. "This is an industry that will need to be governed or regulated. The safety and the well-being of the common user has to be taken into consideration. All this is expected," said Ron Cao, Managine Director at Lightspeet Venture Partners, which recently invested $5 million in BTC China. "'We've got a long way to go. This thing needs to be regulated at some point. We're studying it. Don't jump into it.' My read is that's the tone of the message." Bitcoin traders sold on the Chinese government's announcement. On the Chinese platform FXBTC.com, the yuan-bitcoin exchange rate dropped as much as about 20 percent after the news before rebounding slightly to around 5,800 yuan per bitcoin in heavy trading. On BTC-e, the dollar-bitcoin rate had fallen about 11 percent to about $945 from $1,063 before the news. Cao said he would not be surprised to see the value of bitcoins fall as much as 50 percent over the next week or two. Many bitcoin proponents say the currency's volatility will have to flatten out before it can be adopted more widely as a near-frictionless means of payment and regulation may help. More regulation was likely, although the initial ban on financial institutions may eventually be lifted, analysts said. "I would be cautious about jumping the gun and taking today's announcement as indicative as how the space will be regulated in the future," said Mark Natkin, of Beijing-based Marbridge Consulting. "Once they have a better idea of how the market works and which players are likely to emerge as the leading players, then they'll come out with firmer regulations, with more specific licensing requirements," and possibly minimum capital requirements for firms entering the sector, he said. (Additional reporting by Jonathan Standing, Aileen Wang and Anita li; Editing by Alex Richardson) |
1,386,242,624 | 2013-12-05 11:23:44+00:00 | {"Bitcoin": [941, 3181], "BTC": [1336, 3008, 3442]} | {} | China bars banks from bitcoin transactions | https://finance.yahoo.com/news/finance.yahoo.com/news/china-central-bank-warns-banks-080434835.html | Reuters | https://www.reuters.com/ | By John Ruwitch and Pete Sweeney SHANGHAI (Reuters) - China's government banned financial institutions from trading in bitcoin on Thursday, in what analysts said was a restrained first step towards regulating the digital currency that has exploded in popularity in China and soared in value in recent months. A statement by the central bank and four other agencies said that, while the computer-generated currency does not yet pose a threat to China's financial system, it carries risks. It did not, however, curtail the use of bitcoin by individuals. "I think it's measured and it's positive," said Zennon Kapron, of the financial consultancy Kapronasia. "It does add legitimacy to the idea that it could be a nationwide accepted currency." The value of bitcoins on Chinese exchanges fell after the announcement, however, with one expert predicting the price could halve in the short-term. Digital currencies are generally highly volatile. Bitcoins have seen their value relative to the dollar skyrocket some 800 percent in the past two months as speculators have piled into the currency, according to bitcoinity.org. While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. Shanghai-based BTC China has recently become the world's largest bitcoin exchange by volume. A statement on the website of the People's Bank of China (PBOC) said that the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank. The PBOC may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's capital controls. However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy. Story continues EYES ON BITCOIN More cause for worry is the way these digital currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons. The government will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said. The notice was issued jointly by the PBOC, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission and the China Securities Regulatory Commission and China Insurance Regulatory Commission. "This is an industry that will need to be governed or regulated. The safety and the well-being of the common user has to be taken into consideration. All this is expected," said Ron Cao, Managine Director at Lightspeet Venture Partners, which recently invested $5 million in BTC China. "'We've got a long way to go. This thing needs to be regulated at some point. We're studying it. Don't jump into it.' My read is that's the tone of the message." Bitcoin traders sold on the Chinese government's announcement. On the Chinese platform FXBTC.com, the yuan-bitcoin exchange rate dropped as much as about 20 percent after the news before rebounding slightly to around 5,800 yuan per bitcoin in heavy trading. On BTC-e, the dollar-bitcoin rate had fallen about 11 percent to about $945 from $1,063 before the news. Cao said he would not be surprised to see the value of bitcoins fall as much as 50 percent over the next week or two. Many bitcoin proponents say the currency's volatility will have to flatten out before it can be adopted more widely as a near-frictionless means of payment and regulation may help. More regulation was likely, although the initial ban on financial institutions may eventually be lifted, analysts said. "I would be cautious about jumping the gun and taking today's announcement as indicative as how the space will be regulated in the future," said Mark Natkin, of Beijing-based Marbridge Consulting. "Once they have a better idea of how the market works and which players are likely to emerge as the leading players, then they'll come out with firmer regulations, with more specific licensing requirements," and possibly minimum capital requirements for firms entering the sector, he said. (Additional reporting by Jonathan Standing, Aileen Wang and Anita li; Editing by Alex Richardson) |
1,386,242,655 | 2013-12-05 11:24:15+00:00 | {"Bitcoin": [941, 3184], "BTC": [1336, 3011, 3445]} | {} | China bars banks from bitcoin transactions | https://finance.yahoo.com/news/china-central-bank-warns-banks-against-bitcoin-080505703--business.html | Reuters | https://www.reuters.com/ | By John Ruwitch and Pete Sweeney SHANGHAI (Reuters) - China's government banned financial institutions from trading in bitcoin on Thursday, in what analysts said was a restrained first step towards regulating the digital currency that has exploded in popularity in China and soared in value in recent months. A statement by the central bank and four other agencies said that, while the computer-generated currency does not yet pose a threat to China's financial system, it carries risks. It did not, however, curtail the use of bitcoin by individuals. "I think it's measured and it's positive," said Zennon Kapron, of the financial consultancy Kapronasia. "It does add legitimacy to the idea that it could be a nationwide accepted currency." The value of bitcoins on Chinese exchanges fell after the announcement, however, with one expert predicting the price could halve in the short-term. Digital currencies are generally highly volatile. Bitcoins have seen their value relative to the dollar skyrocket some 800 percent in the past two months as speculators have piled into the currency, according to bitcoinity.org. While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number of bitcoins in circulation. Shanghai-based BTC China has recently become the world's largest bitcoin exchange by volume. A statement on the website of the People's Bank of China (PBOC) said that the government would act to prevent money laundering risks from bitcoin, which is not backed by a government or central bank. The PBOC may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's capital controls. However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy. EYES ON BITCOIN More cause for worry is the way these digital currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons. The government will require trading platforms that deal in virtual currencies such as bitcoin to register with telecommunications authorities, it said. The notice was issued jointly by the PBOC, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission and the China Securities Regulatory Commission and China Insurance Regulatory Commission. "This is an industry that will need to be governed or regulated. The safety and the well-being of the common user has to be taken into consideration. All this is expected," said Ron Cao, Managine Director at Lightspeet Venture Partners, which recently invested $5 million (3 million pounds) in BTC China. "'We've got a long way to go. This thing needs to be regulated at some point. We're studying it. Don't jump into it.' My read is that's the tone of the message." Bitcoin traders sold on the Chinese government's announcement. On the Chinese platform FXBTC.com, the yuan-bitcoin exchange rate dropped as much as about 20 percent after the news before rebounding slightly to around 5,800 yuan per bitcoin in heavy trading. On BTC-e, the dollar-bitcoin rate had fallen about 11 percent to about $945 from $1,063 before the news. Cao said he would not be surprised to see the value of bitcoins fall as much as 50 percent over the next week or two. Many bitcoin proponents say the currency's volatility will have to flatten out before it can be adopted more widely as a near-frictionless means of payment and regulation may help. More regulation was likely, although the initial ban on financial institutions may eventually be lifted, analysts said. "I would be cautious about jumping the gun and taking today's announcement as indicative as how the space will be regulated in the future," said Mark Natkin, of Beijing-based Marbridge Consulting. "Once they have a better idea of how the market works and which players are likely to emerge as the leading players, then they'll come out with firmer regulations, with more specific licensing requirements," and possibly minimum capital requirements for firms entering the sector, he said. (Additional reporting by Jonathan Standing, Aileen Wang and Anita li; Editing by Alex Richardson) |
1,417,528,800 | 2014-12-02 14:00:00+00:00 | {"BTC": [2556]} | {} | Cable & Wireless Communications Selects Funambol to Power Caribbean's Premier Operator Personal Cloud Service | https://finance.yahoo.com/news/cable-wireless-communications-selects-funambol-140000872.html | Marketwired | http://www.marketwired.com/ | FOSTER CITY, CA--(Marketwired - Dec 2, 2014) -Funambol, the leading provider of white-label personal cloud solutions, today announced that LIME, the Caribbean's leading telecom, from Cable & Wireless Communications, is using Funambol to power the region's premier operator personal cloud service. LIME MyCloud automatically secures peoples' rich media and personal data in the cloud, syncs it across their mobile devices and computers, and enables content to be easily shared. LIME views its personal cloud service as highly important as their subscribers are extremely mobile and it is critical that their content always be secure and easily accessed.
James McElvanna Group Product Director, Cable & Wireless Communications, said, "Our customers love to listen to music, take photos and watch video clips on the go, and LIME MyCloud will protect their most treasured files. Additionally, their lifestyle will only get more mobile as we launch 4G LTE mobile data and fibre to the home broadband services."
LIME MyCloud is based on Funambol's solution for several reasons. As a white-label solution, LIME extends its brand via an innovative mobile service that strengthens customer loyalty. LIME liked how Funambol's aim was consistent with their goal of improving people's lives rather than just being another cloud storage service. They viewed the flexibility of the Funambol personal cloud as a major plus, as this enables LIME to offer a customized and differentiated solution. LIME also appreciated the speed at which the service could be deployed and Funambol's extensive track record of delivering high-quality mobile services.
"Providing an innovative personal cloud service for highly mobile people presents unique challenges. Only a mobile solution that is time-tested in diverse conditions fits the bill," said Amit Chawla, Funambol CEO. "We are pleased that Cable & Wireless chose Funambol to power its personal cloud service and look forward to working with them to improve the digital life of their subscribers."
About Funambol
Funambol is the leading provider of white-label personal cloud solutions that have been deployed by mobile operators, device makers, content providers and system integrators. For more information, visitwww.funambol.com.
About Cable & Wireless Communications
Cable & Wireless CommunicationsPlc(CWC) is a full-service communications provider operating in 16 countries throughout the Caribbean and Latin America. Operating four leading businesses: -Cable and Wireless Panama,LIME,(the Caribbean excluding The Bahamas),BTC(The Bahamas) andCable and Wireless Seychelles; CWC offers mobile, broadband, TV, domestic and international fixed line services in most of our markets serving over 5.6m customers. CWC also provides premium data centre hosting, telecoms, domestic and international managed data network services and custom IT Service Solutions to businesses and governments through the new unit, Cable & Wireless Business Solutions. Our mission is to grow customer relationships and lifetime value by becoming #1 for Customer Service. We are the market leader in most products offered and territories served. For more information, visitwww.cwc.com. |
1,386,247,665 | 2013-12-05 12:47:45+00:00 | {"Bitcoin": [183]} | {} | French central bank warns over bitcoin risks | https://finance.yahoo.com/news/finance.yahoo.com/news/french-central-bank-warns-over-124745878.html | Reuters | https://www.reuters.com/ | PARIS (Reuters) - The Bank of France warned on Thursday about risks related to the digital currency bitcoin, adding its voice to growing concerns about the unregulated, online money. Bitcoin is not backed by any central bank or government, or by physical assets. Their value depends on people's confidence in the currency. It has been gaining acceptance by the general public and investment community but have yet to become an accepted form of payment on websites of major retailers such as Amazon.com. The Bank of France said the price of bitcoin in legal currencies was inherently volatile and users may find it difficult to convert to real money. The anonymity that bitcoin offer users also raises the risk that they could also be used for money-laundering and financing of terrorism, the central bank said in a publication. "Even if bitcoin is not currently a credible investment vehicle and therefore do not pose a significant risk to financial stability, they represent a financial risk for those who hold them," the Bank of France said. Though the central bank saw no threat to its monopoly on the issuance of legal tender, bitcoin's growing popularity has increasingly attracted the attention of authorities in several countries, including China and the United States. The Chinese central bank warned financial institutions on Thursday against trading bitcoin, which has proven particularly popular in China. The price of the digital currency rose over $1,000 last month for the first time, extending a 400 percent surge in less than a month and fuelling concerns of a bubble in the making. The Bank of France warned that speculating on the price of bitcoin could become costly if other users became unwilling to convert gains into legal tender, potentially putting the whole system at risk of collapse if bitcoin demand evaporated. Noting a growing number of retailers and service providers who accept bitcoin for payment in France, the central bank warned they benefited from no guarantee that the bitcoin could be cashed for real money. (Reporting by Leigh Thomas; Editing by Pravin Char) |
1,386,253,443 | 2013-12-05 14:24:03+00:00 | {"Bitcoin": [1707]} | {} | CFOs warn on froth in US stocks, tech, bitcoin | https://finance.yahoo.com/news/finance.yahoo.com/news/froth-us-stocks-tech-bitcoin-142403365.html | CNBC | http://www.cnbc.com/ | Despite optimism over the state of the global economy, chief financial officers from around the globe are becoming increasingly wary of asset valuations -- with some stating that they have held back on deals because of froth in markets.
More than 92 percent of respondents believe that U.S. stock valuations are high, according to a CNBC survey of 26 chief financial officers (CFO) from Europe and Asia who make up the CNBC CFO Council. Half of those CFOs who said their company was looking at acquisitions, admitted that they had completed the deal regardless of these valuations. About a third said valuations had been a deterrent.
The technology sector was a particular area of valuation concern, with more than 83 percent of those surveyed seeing valuations in the technology sector as being high, with over 8 percent believing that they are extremely high. Twitter (TWTR)'s current price of around $40 since its initial public offering in November is also overvalued, according to 86 percent of respondents.
(Read More:Business confidence booms, hiring returns: Global CFO Council survey)
But despite this market froth, the CFOs remain convinced that the Nasdaq Composite (^IXIC) is not in a bubble. The index has risen 33 percent so far this year with a current price-to-earnings ratio of 19.87. In late November, big-cap technology stocks helped the Nasdaq to finish above 4,000 points for the first time since the dot-com bubble burst in 2000. Almost two-thirds, 62 percent, of the CFO survey's respondents believe the Nasdaq is not in a bubble, compared with 38 percent who believe it is.
CNBC's survey showed finance chiefs have similar overvaluation concerns when it comes to virtual currencies. Bitcoin allows users to exchange online credits for goods and services. There's no central bank that issues them and they can be created online by using a computer to complete difficult tasks, a process known as mining. The price of bitcoin has topped $1,000 recently and whilst many advocates tout it as an alternative to fiat currency, our CFOs aren't as certain.
Over 85 percent of CFOs that responded see it as a "purely speculative" tool for investors trying to cash in, whereas around 14 percent considered it a "legitimate currency". Nearly 64 percent replied that they thought the digital currency was currently in an economic bubble.
The results reflect the concerns of several high-profile investors that years of central bank stimulus have made the markets too buoyant.
TheU.S. Federal Reserveexpanded its balance sheet soon after the global financial crash of 2008. It has since embarked on two more quantitative easing programs and is currently pumping an open-ended $85 billion-a-month into the U.S. economy. Meanwhile, the Bank of Japan and the Bank of England have both followed the Fed with asset purchases and low interest rates have been prevalent across the globe in an effort to combat deflation.
(Read More:Faber: 'We are in a massive speculative bubble')
With this increased liquidity, stocks have been one of the main beneficiaries. The S&P 500 (^GSPC) is nearly 26 percent higher year-to-date and logged its longest weekly winning streak since 2004 on Friday.
Nomura strategist Bob Janjuah told CNBC on Tuesday that bond-buying by the Fed has essentially benefited the "owners of capital" and "people that can take leverage at the Fed window", failing to trickle down to the real economy.
(Read More:Holiday spending highlights US wealth gap: Nomura)
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, told CNBC on Friday he believes a "massive speculative bubble" has encroached on everything from stocks and bonds to alternative currency bitcoin and farmland. He attributed the vast bubble to "symptoms of excess liquidity."
-CNBC.com's Matt Clinch. Follow him on Twitter@mattclinch81
More From CNBC
• Marc Faber: 'In a massive, speculative bubble'
• Holiday spending highlights US wealth gap: Nomura
• Cyber Monday to shatter records |
1,386,253,443 | 2013-12-05 14:24:03+00:00 | {"Bitcoin": [1707]} | {} | CFOs warn on froth in US stocks, tech, bitcoin | https://finance.yahoo.com/news/froth-us-stocks-tech-bitcoin-142403365.html | CNBC | http://www.cnbc.com/ | Despite optimism over the state of the global economy, chief financial officers from around the globe are becoming increasingly wary of asset valuations -- with some stating that they have held back on deals because of froth in markets.
More than 92 percent of respondents believe that U.S. stock valuations are high, according to a CNBC survey of 26 chief financial officers (CFO) from Europe and Asia who make up the CNBC CFO Council. Half of those CFOs who said their company was looking at acquisitions, admitted that they had completed the deal regardless of these valuations. About a third said valuations had been a deterrent.
The technology sector was a particular area of valuation concern, with more than 83 percent of those surveyed seeing valuations in the technology sector as being high, with over 8 percent believing that they are extremely high. Twitter (TWTR)'s current price of around $40 since its initial public offering in November is also overvalued, according to 86 percent of respondents.
(Read More:Business confidence booms, hiring returns: Global CFO Council survey)
But despite this market froth, the CFOs remain convinced that the Nasdaq Composite (^IXIC) is not in a bubble. The index has risen 33 percent so far this year with a current price-to-earnings ratio of 19.87. In late November, big-cap technology stocks helped the Nasdaq to finish above 4,000 points for the first time since the dot-com bubble burst in 2000. Almost two-thirds, 62 percent, of the CFO survey's respondents believe the Nasdaq is not in a bubble, compared with 38 percent who believe it is.
CNBC's survey showed finance chiefs have similar overvaluation concerns when it comes to virtual currencies. Bitcoin allows users to exchange online credits for goods and services. There's no central bank that issues them and they can be created online by using a computer to complete difficult tasks, a process known as mining. The price of bitcoin has topped $1,000 recently and whilst many advocates tout it as an alternative to fiat currency, our CFOs aren't as certain.
Over 85 percent of CFOs that responded see it as a "purely speculative" tool for investors trying to cash in, whereas around 14 percent considered it a "legitimate currency". Nearly 64 percent replied that they thought the digital currency was currently in an economic bubble.
The results reflect the concerns of several high-profile investors that years of central bank stimulus have made the markets too buoyant.
TheU.S. Federal Reserveexpanded its balance sheet soon after the global financial crash of 2008. It has since embarked on two more quantitative easing programs and is currently pumping an open-ended $85 billion-a-month into the U.S. economy. Meanwhile, the Bank of Japan and the Bank of England have both followed the Fed with asset purchases and low interest rates have been prevalent across the globe in an effort to combat deflation.
(Read More:Faber: 'We are in a massive speculative bubble')
With this increased liquidity, stocks have been one of the main beneficiaries. The S&P 500 (^GSPC) is nearly 26 percent higher year-to-date and logged its longest weekly winning streak since 2004 on Friday.
Nomura strategist Bob Janjuah told CNBC on Tuesday that bond-buying by the Fed has essentially benefited the "owners of capital" and "people that can take leverage at the Fed window", failing to trickle down to the real economy.
(Read More:Holiday spending highlights US wealth gap: Nomura)
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, told CNBC on Friday he believes a "massive speculative bubble" has encroached on everything from stocks and bonds to alternative currency bitcoin and farmland. He attributed the vast bubble to "symptoms of excess liquidity."
-CNBC.com's Matt Clinch. Follow him on Twitter@mattclinch81
More From CNBC
• Marc Faber: 'In a massive, speculative bubble'
• Holiday spending highlights US wealth gap: Nomura
• Cyber Monday to shatter records |
1,386,256,830 | 2013-12-05 15:20:30+00:00 | {"Bitcoin": [881, 966]} | {"Bitcoin": [37]} | How Many Tulips Can You Buy With One Bitcoin? | https://finance.yahoo.com/news/many-tulips-buy-one-bitcoin-152030406.html | The Atlantic | http://www.theatlantic.com/ | See that big number up there? It’s the current bitcoin-tulip exchange rate. Based off the weighted price of bitcoin from the currency exchange websiteMt. Gox, and updated every 15 minutes, it calculates just how many tulips you could buy with one bitcoin.
As of publication, the number was in the 700s.
It’s a silly way of getting at a serious question: Is bitcoin a bubble? The digital currency has now been the subject ofa giddy U.S. Senate hearing, aFederal Reserve economist’s advisory letter, and oodles of bemused press. Since briefly losing value when law enforcement shut down the online black market Silk Road in October, the currency’s value has almost unstoppably climbed. A single bitcoin—little more than $13 a year ago—now costs over $1000.
“All I can say is that the crash is going to be great,”proclaimedtechnology writer Adrian Chen in theNew York Timeslast week.“Bitcoin is too dependent on speculative mania to be of practical use as a currency.”
Bitcoin's sudden rise has people thinking about the ludicrous heights that tulips achieved in the Netherlands in the 1630s. At the peak of that bubble, a single tulip bulb could cost more than ten times a craftsman’s annual salary. While some of these prices were “justified” by market forces—the rarest breeds were enviable luxury goods—the speculation bore common tulips aloft too, raising their price 26 times in January 1637 before, a week later, it fell to one-twentieth of the peak price.
“This is worse than the tulip mania,” a former Dutch central bank presidentsaid yesterday about bitcoin. “At least then you got a tulip [at the end], now you get nothing.”
What does speculation like that look in action?The Atlanticinvestigates. Here are some charts.
As of today, you can buy more than 700 tulips with one bitcoin. That’s a precipitous rise in value—at the beginning of October 2013, you couldn’t even buy 90 tulips with one bitcoin.
And two years ago? A single bitcoin could buy you almost exactly two measly tulips.
Look at that recent spike! Look at the growth just in 2013! It’s ridiculous.
Now: My methods aren’t scientific. In trying to calculate the price of a single tulip stem, I consulted a major floral online retailer, a local florist, and a tulip grower in California. They variously presented the price of a single flower at $1.66, $1.50, and $1.00. I’ve settled here, imprecisely, on the gloriously accurate median of $1.50/tulip.
Talking to those folks, I learned that the Dutch still dominate the modern-day political economy of tulips. Tracy Callahan, the president ofBethesda Floristin Bethesda, Maryland, estimated that 85 percent of tulips on the east coast—85 percent of those $1.50 tulips—are grown in Holland.
American florists work out bulk deals with brokers, he said, who themselves deal with growers whose families have sometimes been in the flower-growing business for centuries. After working out a deal, florists receive weekly or twice weekly shipments of tulips, each usually with 3,600 stems.
Because they’re sold privately in bulk, Callahan was reluctant to reveal the wholesale price of tulips, but said it was “significantly less than $1.50.”
Tulips are also grown in the states, though. The biggest American grower of tulips isSun Valley Floral Farms, based in California. Bill Prescott, a spokesman for the farms, said that unlike Dutch tulips, which are grown hydroponically, most American tulips tend to be grown in soil.
The price of tulips, Prescott said, also varied strongly by their color. Orange tulips go for a high price before Thanksgiving, for example, but then immediately lose value come Black Friday, when red and white tulips become the hot item. (Which, in turn, lose value after Valentine’s Day, when springy pastels take over.)
Prescott said this posed a real problem for growers. “We’ve been in the position where we have too many orange tulips come December,” he told me. What happens then?
“You either sell it to a bouquet maker who can put it in a holiday bouquet and hide the fact that they’re orange tulips,” Prescott said, or “Trader Joe’s has a sale on orange tulips.”
And, for all this folly, it doesn’t look like there’s a way to buy tulips with bitcoin right now. In an email to me, Tim Maly, a Canadianwriterand researcher whofirst proposedthe tulip-bitcoin exchange rate, said that there was no easy way to convert bitcoins to tulips.
“There are some hints of bitcoin florists but they seem to have never taken off or become scams,” he wrote. “There wastalk of it on Reddittoo but nothing came of the threads I found.”
It looks like the best way to buy tulips is buying a gift cardfor 1-800-Flowers.comfromGyft, an online gift card company that accepts bitcoin, and buying tulips from that florist. It’s “clearly an inefficient system,” writes Maly, “as the [bitcoin] have to be converted to cash-equivalent and then bought retail.”
He continues:
And even worse than that, you have very limited ability to pick your tulip varietal via 1-800-flowers. A big part of what drove the tulip mania was the various specialized breeds and varieties. There is no opportunity to invest in those mechanisms given the current system.
Alas, it looks like it may be best for flower investors to stick to a government-controlled currency. Callahan, the Maryland florist, knew all about bitcoin—his son had written a college paper on the topic—and I asked him if he would accept the digital currency in return for tulips.
“Well, right now,” he said, “no.”
Thanks to Tim Maly, who conceived the bitcoin-tulip exchange rate, and Max Fenton,who first thought of putting it in a graph. The live exchange rate counter and the charts were made byAtlanticweb developerFrankie Dintino.
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1,386,257,795 | 2013-12-05 15:36:35+00:00 | {"Bitcoin": [5482]} | {} | Whistleblower targets PE's 'crack cocaine' fees | https://finance.yahoo.com/news/whistleblower-targets-pes-crack-cocaine-153635594.html | CNBC | http://www.cnbc.com/ | Paul Burns | Photodisc | Getty Images Are private equity firms about to become much less private? Or lose an easy way to make tens of millions of dollars? One of the two is likely if an anonymous industry executive's whistle-blower complaint gets traction. Crain's New York Business has reported that a "senior" private equity insider filed a compliant with the Securities and Exchange Commission earlier this year about the so-called transaction fees that PE firms often charge when they buy a company. At issue is whether relatively lightly regulated private equity firms can advise on transactions just like an investment bank without registering as a broker-dealer. Such a designation would come with greater regulatory oversight, something PE funds would hate. The whistler blower, who stands to make up to 30 percent of money recovered by the government, argues that private equity firms are violating federal securities law by awarding themselves multi-million dollar payments for sealing a deal, such as the $40 million Clayton Dubilier & Rice took in 2011 when it closed its $3.2 billion acquisition of Emergency Medical Services. ( Read more : Private equity firms brace for 'mafia' style scrutiny ) The private equity industry has been indignant in reaction, mostly because fees are often disclosed during a deal and haggled over with fund investors. "This is a waste of time," said one private equity firm employee who asked to remain nameless. "The fee is a negotiated deal between very sophisticated parties. No one is being taken advantage of here." Plus, an increasing number of private equity clients are reimbursed for the transaction fees. Buyout funds launched in 2012 and 2013 rebate an average of 87 percent of transaction fees to their investors, according to industry data tracker Preqin. About 63 percent give the entire fee back to investors, up from 51 percent in 2010 and 2011. Firms like Warburg Pincus and Hellman & Friedman have traditionally not charged such fees, and other firms like Bain Capital have more recently joined the fee-refund club. The ones that still do, such as TPG Partners and Apollo Global Management ( APO ), are already being pressured by public pensions to stop the practice. Story continues ( Read more : U.S.pension funds pressure Caesars' private equity owners ) For most observers, the whistler-blower charge was hardly a revelation. "Most limited partners have always hated transaction fees," said Susan Long McAndrews, a partner at $24 billion fund of private equity funds Pantheon. She joked that the practice is sometimes called the "crack cocaine of the private equity industry" because the fees aren't traditionally subject to minimum performance requirements. While McAndrews was quick to note that PE investors have successfully pushed for more fee rebates, there may be something to the new SEC focus. "Yes, it's gone on forever and it's not new information. But there could be a case where, by the letter of the law, taking these fees does change the nature of what that firm is doing from being an asset manager to a broker dealer," McAndrews said. ( Read more : Private equity needs to act 'maturely': Report ) Many firms are already watching the SEC for movement on the issue. In April, senior SEC lawyer David Blass gave a speech noting the potential that PE shops might need to be registered as broker-dealers in part because of their transaction fees. Blass called for "dialogue" on the issue. That dialogue came-mainly in the form of the industry strongly voicing its opposition to the idea. "Layering broker-dealer regulations on private equity will be of no meaningful benefit to investors and would levy significant costs on private equity firms," said Steve Judge, president of the chief industry lobbyist Private Equity Growth Capital Council. Judge argues that services provided by PE firms to their affiliated funds and portfolio companies are investment advisory services, a designation that already faces more scrutiny under the Dodd-Frank Act. Jordan Thomas, a partner at Labaton Sucharow and the whistle-blower's lawyer, disagrees. "For almost a decade, many of the largest and most prominent private equity firms appear to have chosen to increase their bottom line without subjecting themselves to the oversight, limitations and expenses of the required broker dealer regulatory regime," Thomas said. He estimates that private equity firms have made more than $2 billion dollars in transaction fees over the last 10 years without being properly registered as broker dealers. (Read more: These pension funds made a killing with private equity ) Law firms like Covington & Burling have warned their private equity clients to be prepared for transaction fee questions during so-called "presence exams" for newly registered firms. "I'm seeing many clients who are apprehensive about taking transaction fees going forward," said Lindsey Simon, founder of regulatory consultancy Simon Compliance. She said several of her private equity funds clients have stopped charging the fees and are waiting for guidance from the SEC before deciding whether to resume collecting them at all. Simon declined to provide the names of those clients. The call for greater scrutiny by the SEC comes just as a bill in Congress would exempt most PE firms from registering with the SEC. -By CNBC's Lawrence Delevingne. Follow him on Twitter @ldelevingne . More From CNBC Gangbuster! US growth surges, joblessness plunges Bitcoin crashes 20% on China clampdown fears How 'on-call' hours are hurting part-time workers |
1,386,257,880 | 2013-12-05 15:38:00+00:00 | {"Bitcoin": [38, 202, 494, 746, 931, 1190, 1293, 1533, 1776, 1834, 1902, 1976]} | {"Bitcoin": [52]} | This Is, Quite Simply, The Biggest Endorsement That Bitcoin Has Ever Received | https://finance.yahoo.com/news/finance.yahoo.com/news/quite-simply-biggest-endorsement-bitcoin-153805744.html | Business Insider | http://www.businessinsider.com/ | Bank of America
David Woo
"We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers. As a medium of exchange, Bitcoin has clear potential for growth, in our view."
That quote is from David Woo, FX and Rates Strategist at Bank of America/Merill Lynch.
Woo is one of the most genuinely brilliant minds on Wall Street, and that statement is huge.
Here's why: Lots of folks have made positive noises about Bitcoin.Ben Bernanke, for example, said it "may hold long-term promise" but mostly spoke very generally about being open-minded toward digital currencies. He never said anything specific.
Various hedge fund managers have made positive statements about Bitcoin, but you have to take their comments with a grain of salt. Most of them aren't experts in economics, and just get excited by things that go up or down by a lot (which obviously Bitcoin does in spades).
But Woo's analysis represents a top-flight mind at a major financial institution assessing it in a serious way, and coming to the conclusion that it could be the real deal.
Woo even identifies the three things that need to happen for Bitcoin to be worth what it currently is:
Our fair value analysis suggests that to justify the current Bitcoin valuation, it will need to (1) account for at least 10% of all global e-commerce B2C transactions, (2) become one of the top three players in the money transfer industry, and (3) acquire a store of value reputation close to silver.
Bitcoin is lodging into people's minds, and not just as some theoretical amusement that might one day be meaningful, but as something that can be defined and judged against benchmarks. As such, Woo's note represents the biggest endorsement of Bitcoin to date.
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• The Largest Bitcoin Exchange In The World Went Down Earlier Today
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1,386,257,880 | 2013-12-05 15:38:00+00:00 | {"Bitcoin": [38, 202, 494, 746, 931, 1190, 1293, 1533, 1776, 1834, 1902, 1976]} | {"Bitcoin": [52]} | This Is, Quite Simply, The Biggest Endorsement That Bitcoin Has Ever Received | https://finance.yahoo.com/news/quite-simply-biggest-endorsement-bitcoin-153805744.html | Business Insider | http://www.businessinsider.com/ | Bank of America
David Woo
"We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers. As a medium of exchange, Bitcoin has clear potential for growth, in our view."
That quote is from David Woo, FX and Rates Strategist at Bank of America/Merill Lynch.
Woo is one of the most genuinely brilliant minds on Wall Street, and that statement is huge.
Here's why: Lots of folks have made positive noises about Bitcoin.Ben Bernanke, for example, said it "may hold long-term promise" but mostly spoke very generally about being open-minded toward digital currencies. He never said anything specific.
Various hedge fund managers have made positive statements about Bitcoin, but you have to take their comments with a grain of salt. Most of them aren't experts in economics, and just get excited by things that go up or down by a lot (which obviously Bitcoin does in spades).
But Woo's analysis represents a top-flight mind at a major financial institution assessing it in a serious way, and coming to the conclusion that it could be the real deal.
Woo even identifies the three things that need to happen for Bitcoin to be worth what it currently is:
Our fair value analysis suggests that to justify the current Bitcoin valuation, it will need to (1) account for at least 10% of all global e-commerce B2C transactions, (2) become one of the top three players in the money transfer industry, and (3) acquire a store of value reputation close to silver.
Bitcoin is lodging into people's minds, and not just as some theoretical amusement that might one day be meaningful, but as something that can be defined and judged against benchmarks. As such, Woo's note represents the biggest endorsement of Bitcoin to date.
More From Business Insider
• The Largest Bitcoin Exchange In The World Went Down Earlier Today
• At Least 54 Bitcoin Clones Have Been Created Since April
• I'm Changing My Mind About Bitcoin |
1,386,258,758 | 2013-12-05 15:52:38+00:00 | {"Bitcoin": [16, 302, 511, 1301], "BTC": [1489]} | {} | China bars banks from handling bitcoins | https://finance.yahoo.com/news/china-bars-banks-handling-bitcoins-095527646.html | Associated Press | https://apnews.com/ | BEIJING (AP) -- Bitcoins suffered a new setback after China's central bank said Thursday its banks and payment systems are barred from handling the virtual currency. The central bank said bitcoins did not qualify as a currency but private individuals still are allowed to trade them at their own risk. Bitcoins are created, distributed, and authenticated independently of any bank or government. Their relative anonymity holds out the promise of being able to spend money across the Internet without scrutiny. "Bitcoins are virtual goods that have no legal status or monetary equivalent and should not be used as currency," said a Chinese central bank statement. It said financial institutions and payment systems were not allowed use bitcoin prices for products and could not sell, trade or store bitcoins. "Ordinary people are free to participate in transactions at their own risk," the central bank said. Despite wild swings in value, the virtual currency has been moving toward broader acceptance. A growing number of companies accept bitcoins, which can be converted into cash. Last month, the biggest private university in Cyprus said it would accept bitcoins for tuition. But other governments are wary of the cybercurrency. In July, Thailand's central bank banned trading and use of bitcoins. Bitcoins are actively traded in China, possibly due to relatively limited options for investment. Just over 2 million bitcoins were traded over the past month on China's biggest exchange, BTC China, according to bitcoincharts.com, which follows trading in the cybercurrency. This week, Chinese police announced the detention of three people operating an online bitcoin trading platform who are suspected of stealing investors' assets. Operators told users the platform based in the eastern province of Zhejiang allowed them to trade bitcoins like stocks, according to the official Xinhua News Agency. Users may have lost as much as 25 million yuan ($4 million) when the platform shut down in October, Xinhua said. In Cyprus, the country's biggest private university said last month it will begin accepting bitcoins for tuition. Also last month, the U.S. Federal Election Commission said political organizations cannot accept contributions in the form of bitcoins. The commission's chairwoman cited the possibility of foreign or anonymous donations, which both would be illegal, flowing to candidates or outside political groups. |
1,386,258,758 | 2013-12-05 15:52:38+00:00 | {"Bitcoin": [16, 302, 511, 1301], "BTC": [1489]} | {} | China bars banks from handling bitcoins | https://finance.yahoo.com/news/finance.yahoo.com/news/china-bars-banks-handling-bitcoins-095527646.html | Associated Press | https://apnews.com/ | BEIJING (AP) -- Bitcoins suffered a new setback after China's central bank said Thursday its banks and payment systems are barred from handling the virtual currency. The central bank said bitcoins did not qualify as a currency but private individuals still are allowed to trade them at their own risk. Bitcoins are created, distributed, and authenticated independently of any bank or government. Their relative anonymity holds out the promise of being able to spend money across the Internet without scrutiny. "Bitcoins are virtual goods that have no legal status or monetary equivalent and should not be used as currency," said a Chinese central bank statement. It said financial institutions and payment systems were not allowed use bitcoin prices for products and could not sell, trade or store bitcoins. "Ordinary people are free to participate in transactions at their own risk," the central bank said. Despite wild swings in value, the virtual currency has been moving toward broader acceptance. A growing number of companies accept bitcoins, which can be converted into cash. Last month, the biggest private university in Cyprus said it would accept bitcoins for tuition. But other governments are wary of the cybercurrency. In July, Thailand's central bank banned trading and use of bitcoins. Bitcoins are actively traded in China, possibly due to relatively limited options for investment. Just over 2 million bitcoins were traded over the past month on China's biggest exchange, BTC China, according to bitcoincharts.com, which follows trading in the cybercurrency. This week, Chinese police announced the detention of three people operating an online bitcoin trading platform who are suspected of stealing investors' assets. Operators told users the platform based in the eastern province of Zhejiang allowed them to trade bitcoins like stocks, according to the official Xinhua News Agency. Users may have lost as much as 25 million yuan ($4 million) when the platform shut down in October, Xinhua said. In Cyprus, the country's biggest private university said last month it will begin accepting bitcoins for tuition. Also last month, the U.S. Federal Election Commission said political organizations cannot accept contributions in the form of bitcoins. The commission's chairwoman cited the possibility of foreign or anonymous donations, which both would be illegal, flowing to candidates or outside political groups. |
1,386,262,374 | 2013-12-05 16:52:54+00:00 | {"Bitcoin": [298]} | {"Bitcoin": [0]} | Bitcoin May Be in a 'Bubble' but It Can Also Buy You a Tesla Model S | https://finance.yahoo.com/news/finance.yahoo.com/news/bitcoins-aren-t-just-for-boring-stuff--tesla-s-buyer-finds-165255714.html | Yahoo Finance | http://finance.yahoo.com/ | What can you buy with bitcoins?Wine-flavored lollipops? Customleather watch bands? Or how about ... a Tesla (TSLA) Model S?
A Lamborghini dealership in Costa Mesa, California, says it just sold a Tesla Motors Model S for bitcoins and will accept the virtual currency for any future car purchases.
“Bitcoin, a fully encrypted and fully digital currency, has been used by a recent client of ours to pay for a Tesla Model S Performance we had in our inventory," the Lamborghini Newport Beach dealershipposted on its website. “That's right, an electronic currency was used to purchased a fully electric vehicle.”
The dealership didn’t identify the buyer or price tag on the electric car, likely left over from a trade in by an earlier Lambo buyer. A new Tesla Model S starts at $62,400. With bitcoins trading at $1,052 on the Mt.Gox Exchange Thursday, it would take about 59 bitcoins to grab a new electronic ride.
The currency's rise from a few cents each back in 2010 to over $1,000 has fueled more large purchases than just this one. For example, back in October, we saw headlines on a 27-year-old Norwegian man whobought a flat in Oslowith bitcoin profits generated from an initial investment of less than $30. But in that case, he had to actually exchange the coins to kroner. It's notable that the Newport Beach dealership accepted the bitcoins on their own merit.
There have been few other big-item vendors that have done this, although Virgin Galactic did announce it would accept bitcoin for its space flights going forward, and a Hawaiian flight attendant was reportedlythe first to bite.
The value of a bitcoin has fluctuated wildly this year, rising from $20 at the beginning of the year to $140 in October to more than $1,200 at the beginning of December. News this week that Chinese authorities would not allow the country’s banks to deal in bitcoin sent the currency price tumbling back down to $1,000. Former Fed chief Alan Greenspan also said the cryptocurrency is in a "bubble," an idea that has been debated as bitcoin's value has inflated.
But car dealers and other commercial vendors can ignore the price swings because bitcoins can be so easily and quickly converted back into dollars. |
1,386,262,374 | 2013-12-05 16:52:54+00:00 | {"Bitcoin": [298]} | {"Bitcoin": [0]} | Bitcoin May Be in a 'Bubble' but It Can Also Buy You a Tesla Model S | https://finance.yahoo.com/news/bitcoins-aren-t-just-for-boring-stuff--tesla-s-buyer-finds-165255714.html | Yahoo Finance | http://finance.yahoo.com/ | What can you buy with bitcoins?Wine-flavored lollipops? Customleather watch bands? Or how about ... a Tesla (TSLA) Model S?
A Lamborghini dealership in Costa Mesa, California, says it just sold a Tesla Motors Model S for bitcoins and will accept the virtual currency for any future car purchases.
“Bitcoin, a fully encrypted and fully digital currency, has been used by a recent client of ours to pay for a Tesla Model S Performance we had in our inventory," the Lamborghini Newport Beach dealershipposted on its website. “That's right, an electronic currency was used to purchased a fully electric vehicle.”
The dealership didn’t identify the buyer or price tag on the electric car, likely left over from a trade in by an earlier Lambo buyer. A new Tesla Model S starts at $62,400. With bitcoins trading at $1,052 on the Mt.Gox Exchange Thursday, it would take about 59 bitcoins to grab a new electronic ride.
The currency's rise from a few cents each back in 2010 to over $1,000 has fueled more large purchases than just this one. For example, back in October, we saw headlines on a 27-year-old Norwegian man whobought a flat in Oslowith bitcoin profits generated from an initial investment of less than $30. But in that case, he had to actually exchange the coins to kroner. It's notable that the Newport Beach dealership accepted the bitcoins on their own merit.
There have been few other big-item vendors that have done this, although Virgin Galactic did announce it would accept bitcoin for its space flights going forward, and a Hawaiian flight attendant was reportedlythe first to bite.
The value of a bitcoin has fluctuated wildly this year, rising from $20 at the beginning of the year to $140 in October to more than $1,200 at the beginning of December. News this week that Chinese authorities would not allow the country’s banks to deal in bitcoin sent the currency price tumbling back down to $1,000. Former Fed chief Alan Greenspan also said the cryptocurrency is in a "bubble," an idea that has been debated as bitcoin's value has inflated.
But car dealers and other commercial vendors can ignore the price swings because bitcoins can be so easily and quickly converted back into dollars. |
1,386,264,600 | 2013-12-05 17:30:00+00:00 | {"Bitcoin": [23, 243, 516, 822, 1178, 1251, 1319]} | {"Bitcoin": [19]} | The Daily Value Of Bitcoin Transactions Has Passed Western Union's And It's Catching Up To Paypal's | https://finance.yahoo.com/news/daily-value-bitcoin-transactions-passed-173013428.html | Business Insider | http://www.businessinsider.com/ | The value of all daily Bitcoin transactions is now just about one-third less than transactions on online pay service giant PayPal.
That's according to Coinometrics, a site that tracks digital currency data.
Around 80,000 transactions occur in Bitcoin daily. The dollar value of those transactions total around $257 million.
Compare that with $397 million for Paypal.
And that's already greater than $216 million worth of transactions conducted by Western Union, the company that Bank of America's David Woo compared Bitcoin toin his forecast for the digital currency's potential.
However, those 80,000 overall daily transactions still pale in comparison to more mainstream American companies, including Western Union, which does 633,000 exchanges a day, Coinometrics says.
The transactions include all transactions on the Bitcoin network, meaning exchanges processed by places like Bitpay and Coinbase. They do not include trades that occur at exchanges, which are off-chain transactions that do not show up on the network.
Here's the chart:
Coinometrics
And here's the data in table form:
Coinometrics
And here'sthe fun graphic:
Coinometrics
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1,386,267,140 | 2013-12-05 18:12:20+00:00 | {"Bitcoin": [0, 756, 1732, 2214, 2377, 2528]} | {"Bitcoin": [6]} | BofA: Bitcoin could hit $15 billion market cap | https://finance.yahoo.com/news/bofa-bitcoin-could-hit-15-181220111.html | CNBC | http://www.cnbc.com/ | Bitcoin has "clear potential for growth" and could become a major means of payment for online transactions and money transfers, a Bank of America analyst told CNBC on Thursday.
The digital currency could hit a market capitalization of $15 billion on its way to becoming similar to a store-of-value commodity like silver, David Woo said in a CNBC interview.
Woo, head of global rates and currencies research, spoke on CNBC's"Squawk on the Street"after writing BofA's first assessment of bitcoin. His note is a reflection of the attention the fledgling currency has received from investors-and government regulators. On Thursday, the People's Bank of China outlawed the country's banks from using it, leading some to cash in on their investments.
(Read more:Bitcoin crashes 20% on China clampdown fears)
"At the end of the day, we've never seen anything like this before," Woo said of the growth of bitcoin."You have to look at this from outside the box to get some kind of fair value notion. We think the market is very much in need of value assessment because otherwise you don't know how far this thing could go."
Woo valued an individual bitcoin at $1,300 at his maximum market capitalization. According to bitcoin exchangeMt.Gox.com, prices were above $1,000 Thursday afternoon.
Woo said the estimated market capitalization was an "upper limit" on his bitcoin forecast, and would only happen if the digital currency crosses three thresholds: It becomes 10 percent of business-to-consumer online transactions, one of the top three means of money transfers and a commodity similar to silver.
Despite Beijing's move, Woo said bitcoin has immense growth potential in countries with strict regulations such as China.
(Read more:Meet 'Bitcoin Jesus,' a virtual currency millionaire)
"There's no question that bitcoin has some inherent risk," Woo said. "But I think we also need to recognize the fact that bitcoin does have a role to play in countries where its citizens face high taxes, capital controls or even high confiscation risk. This is why China has seen massive growing demand for bitcoins."
Woo played down fears that bitcoin could fuel an underground economy of illicit drugs and untraceable transactions. Bitcoins, which are complex lines of code, contains a built-in code that produces a digital-and public-footprint, he said.
(Read more:US grabs $3 million worth of Bitcoins in Silk Road raid)
"From that point of view, I don't think bitcoin could become a big story in the criminal underworld," Woo said.
(Read more:Bitcoin's surge due to 'excess liquidity': Faber)
- By CNBC's Jeff Morganteen. Follow him on Twitter at@jmorganteenand get the latest stories from "Squawk on the Street"
Disclaimer
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1,417,557,639 | 2014-12-02 22:00:39+00:00 | {"Bitcoin": [4289, 4433]} | {} | Australia probes bitcoin crime links as currency craves legitimacy | https://finance.yahoo.com/news/australia-probes-bitcoin-crime-links-currency-craves-legitimacy-065611676--sector.html | Reuters | https://www.reuters.com/ | By Byron Kaye SYDNEY (Reuters) - A top Australian law enforcement agency is investigating bitcoin's role in organized crime, a senior official said, just as politicians and financial regulators embrace the digital currency as a legitimate part of modern business. The investigation into bitcoin's crime links by one authority as others embrace it highlights the crossroads governments have reached as they struggle to regulate the five-year-old "cryptocurrency", a method of making anonymous payments which has surged in popularity around the world. Australian Crime Commission Executive Director Judy Lind revealed for the first time that investigators will monitor "misuse of virtual currencies to facilitate criminal activity" at a national and international level, under an operation named Project Longstrike. "We know that virtual currencies including bitcoin are used as payment methods to facilitate illicit trade on the darknet," Lind told Reuters in a statement, referring to a hidden part of the Internet where information can be shared anonymously and without revealing the location of its source. "Organized crime groups continue to make use of darknets to harbor trading in illicit commodities, including child exploitation material, illicit drugs and firearms, stolen credit card and identity data, and hacking techniques." Project Longstrike is just the latest example of Australia's determination to crack down on bitcoin-enabled crime. Last month, Australia said it extradited to the United States the alleged primary moderator of Silk Road, a website where people bought illegal drugs like heroin using bitcoins. In October, police seized Queensland state's first bitcoin automated teller machine five months after it opened, with media reporting police believed it was being used by a former motorcycle gang member to deal crystal methamphetamine. Regulators around the world are wary after the Mt Gox bitcoin exchange filed for bankruptcy in Tokyo earlier this year, saying it lost some 850,000 bitcoins - worth about $300 million at current prices - in a hacking attack. Like many countries, Japan has allowed bitcoin trading to continue without establishing a full set of rules on its legal status. U.S. authorities are yet to agree to cohesive laws, while the United Kingdom is seen as a world leader because it has classified bitcoins as a currency. Australian authorities are also trying to facilitate legal bitcoin trades in a country where use of the currency is exploding. Between its 23.6 million people, Australia has an estimated 7 percent of the $5 billion worth of bitcoins now circulating, with reports of online retailers, real estate agents and even pubs accepting bitcoin payments. The Australian Taxation Office has published a guide for bitcoin traders on how to declare their investments, and a parliamentary inquiry is trying to lay the groundwork for a broader regulatory approach to the digital currency. But David Glance, director of the University of Western Australia's Centre for Software Practice, said Australia appeared to be sending mixed messages. "Politicians singularly fail to understand what (the digital economy) is all about. They latch onto trends and buzzwords," he said, referring to the tax office guidelines and parliamentary inquiry. "There still isn't a problem that bitcoin solves, other than buying drugs," he added. Darknet sites including Silk Road and its successor Silk Road 2.0 did about $3 billion of turnover annually in the year to November, Glance said, equivalent to more than half the total bitcoins now in circulation. WILD WEST Senator Sam Dastyari, who is running the parliamentary inquiry, said bitcoins offered a way to "shake up" Australia's "stale" banking industry. A regulatory system is needed that policed crime without restricting the currency, he said. "There is going to be a place for some kind of digital-style currency. There is inevitability that it will play some kind of role," Dastyari said. "Do you go and start regulating it first, or wait for the IMF to do it first and come on board?" Australia could soon see the world's first direct share market listing of a virtual currency exchange, in a sign of how rapidly bitcoin businesses are entering the mainstream. Melbourne-based start-up Bitcoin Group hopes to raise A$20 million ($17 million) and plans to file a prospectus by Christmas which will not include financial forecasts. Bitcoin Group Chief Executive Officer Sam Lee compared the currency to the early "wild, wild west" days of the Internet, and shrugged off concerns that it mainly served as a vehicle for illegal transactions. "We've moved far beyond that now," he said. "We expect (bitcoin currency) to clean itself up as more capital and more smart people flow into the ecosystem." (Editing by Stephen Coates) |
1,417,557,639 | 2014-12-02 22:00:39+00:00 | {"Bitcoin": [4289, 4433]} | {} | Australia probes bitcoin crime links as currency craves legitimacy | https://finance.yahoo.com/news/australia-probes-bitcoin-crime-links-065611498.html | Reuters | http://www.reuters.com/ | By Byron Kaye
SYDNEY (Reuters) - A top Australian law enforcement agency is investigating bitcoin's role in organized crime, a senior official said, just as politicians and financial regulators embrace the digital currency as a legitimate part of modern business.
The investigation into bitcoin's crime links by one authority as others embrace it highlights the crossroads governments have reached as they struggle to regulate the five-year-old "cryptocurrency", a method of making anonymous payments which has surged in popularity around the world.
Australian Crime Commission Executive Director Judy Lind revealed for the first time that investigators will monitor "misuse of virtual currencies to facilitate criminal activity" at a national and international level, under an operation named Project Longstrike.
"We know that virtual currencies including bitcoin are used as payment methods to facilitate illicit trade on the darknet," Lind told Reuters in a statement, referring to a hidden part of the Internet where information can be shared anonymously and without revealing the location of its source.
"Organized crime groups continue to make use of darknets to harbor trading in illicit commodities, including child exploitation material, illicit drugs and firearms, stolen credit card and identity data, and hacking techniques."
Project Longstrike is just the latest example of Australia's determination to crack down on bitcoin-enabled crime. Last month, Australia said it extradited to the United States the alleged primary moderator of Silk Road, a website where people bought illegal drugs like heroin using bitcoins.
In October, police seized Queensland state's first bitcoin automated teller machine five months after it opened, with media reporting police believed it was being used by a former motorcycle gang member to deal crystal methamphetamine.
Regulators around the world are wary after the Mt Gox bitcoin exchange filed for bankruptcy in Tokyo earlier this year, saying it lost some 850,000 bitcoins - worth about $300 million at current prices - in a hacking attack.
Like many countries, Japan has allowed bitcoin trading to continue without establishing a full set of rules on its legal status. U.S. authorities are yet to agree to cohesive laws, while the United Kingdom is seen as a world leader because it has classified bitcoins as a currency.
Australian authorities are also trying to facilitate legal bitcoin trades in a country where use of the currency is exploding. Between its 23.6 million people, Australia has an estimated 7 percent of the $5 billion worth of bitcoins now circulating, with reports of online retailers, real estate agents and even pubs accepting bitcoin payments.
The Australian Taxation Office has published a guide for bitcoin traders on how to declare their investments, and a parliamentary inquiry is trying to lay the groundwork for a broader regulatory approach to the digital currency.
But David Glance, director of the University of Western Australia's Centre for Software Practice, said Australia appeared to be sending mixed messages.
"Politicians singularly fail to understand what (the digital economy) is all about. They latch onto trends and buzzwords," he said, referring to the tax office guidelines and parliamentary inquiry.
"There still isn't a problem that bitcoin solves, other than buying drugs," he added.
Darknet sites including Silk Road and its successor Silk Road 2.0 did about $3 billion of turnover annually in the year to November, Glance said, equivalent to more than half the total bitcoins now in circulation.
WILD WEST
Senator Sam Dastyari, who is running the parliamentary inquiry, said bitcoins offered a way to "shake up" Australia's "stale" banking industry. A regulatory system is needed that policed crime without restricting the currency, he said.
"There is going to be a place for some kind of digital-style currency. There is inevitability that it will play some kind of role," Dastyari said.
"Do you go and start regulating it first, or wait for the IMF to do it first and come on board?"
Australia could soon see the world's first direct share market listing of a virtual currency exchange, in a sign of how rapidly bitcoin businesses are entering the mainstream.
Melbourne-based start-up Bitcoin Group hopes to raise A$20 million ($17 million) and plans to file a prospectus by Christmas which will not include financial forecasts.
Bitcoin Group Chief Executive Officer Sam Lee compared the currency to the early "wild, wild west" days of the Internet, and shrugged off concerns that it mainly served as a vehicle for illegal transactions.
"We've moved far beyond that now," he said.
"We expect (bitcoin currency) to clean itself up as more capital and more smart people flow into the ecosystem."
(Editing by Stephen Coates) |
1,417,557,639 | 2014-12-02 22:00:39+00:00 | {"Bitcoin": [4305, 4449]} | {} | Australia probes bitcoin crime links as currency craves legitimacy | https://finance.yahoo.com/news/australia-probes-bitcoin-crime-links-220039066.html | Reuters | https://www.reuters.com/ | By Byron Kaye SYDNEY (Reuters) - A top Australian law enforcement agency is investigating bitcoin's role in organized crime, a senior official said, just as politicians and financial regulators embrace the digital currency as a legitimate part of modern business. The investigation into bitcoin's crime links by one authority as others embrace it highlights the crossroads governments have reached as they struggle to regulate the five-year-old "cryptocurrency", a method of making anonymous payments which has surged in popularity around the world. Australian Crime Commission Executive Director Judy Lind revealed for the first time that investigators will monitor "misuse of virtual currencies to facilitate criminal activity" at a national and international level, under an operation named Project Longstrike. "We know that virtual currencies including bitcoin are used as payment methods to facilitate illicit trade on the darknet," Lind told Reuters in a statement, referring to a hidden part of the Internet where information can be shared anonymously and without revealing the location of its source. "Organized crime groups continue to make use of darknets to harbor trading in illicit commodities, including child exploitation material, illicit drugs and firearms, stolen credit card and identity data, and hacking techniques." Project Longstrike is just the latest example of Australia's determination to crack down on bitcoin-enabled crime. Last month, Australia said it extradited to the United States the alleged primary moderator of Silk Road, a website where people bought illegal drugs like heroin using bitcoins. In October, police seized Queensland state's first bitcoin automated teller machine five months after it opened, with media reporting police believed it was being used by a former motorcycle gang member to deal crystal methamphetamine. Regulators around the world are wary after the Mt Gox bitcoin exchange filed for bankruptcy in Tokyo earlier this year, saying it lost some 850,000 bitcoins - worth about $300 million at current prices - in a hacking attack. Like many countries, Japan has allowed bitcoin trading to continue without establishing a full set of rules on its legal status. U.S. authorities are yet to agree to cohesive laws, while the United Kingdom is seen as a world leader because it has classified bitcoins as a currency. Australian authorities are also trying to facilitate legal bitcoin trades in a country where use of the currency is exploding. Between its 23.6 million people, Australia has an estimated 7 percent of the $5 billion worth of bitcoins now circulating, with reports of online retailers, real estate agents and even pubs accepting bitcoin payments. Story continues The Australian Taxation Office has published a guide for bitcoin traders on how to declare their investments, and a parliamentary inquiry is trying to lay the groundwork for a broader regulatory approach to the digital currency. But David Glance, director of the University of Western Australia's Centre for Software Practice, said Australia appeared to be sending mixed messages. "Politicians singularly fail to understand what (the digital economy) is all about. They latch onto trends and buzzwords," he said, referring to the tax office guidelines and parliamentary inquiry. "There still isn't a problem that bitcoin solves, other than buying drugs," he added. Darknet sites including Silk Road and its successor Silk Road 2.0 did about $3 billion of turnover annually in the year to November, Glance said, equivalent to more than half the total bitcoins now in circulation. WILD WEST Senator Sam Dastyari, who is running the parliamentary inquiry, said bitcoins offered a way to "shake up" Australia's "stale" banking industry. A regulatory system is needed that policed crime without restricting the currency, he said. "There is going to be a place for some kind of digital-style currency. There is inevitability that it will play some kind of role," Dastyari said. "Do you go and start regulating it first, or wait for the IMF to do it first and come on board?" Australia could soon see the world's first direct share market listing of a virtual currency exchange, in a sign of how rapidly bitcoin businesses are entering the mainstream. Melbourne-based start-up Bitcoin Group hopes to raise A$20 million ($17 million) and plans to file a prospectus by Christmas which will not include financial forecasts. Bitcoin Group Chief Executive Officer Sam Lee compared the currency to the early "wild, wild west" days of the Internet, and shrugged off concerns that it mainly served as a vehicle for illegal transactions. "We've moved far beyond that now," he said. "We expect (bitcoin currency) to clean itself up as more capital and more smart people flow into the ecosystem." (Editing by Stephen Coates) View comments |
1,386,279,960 | 2013-12-05 21:46:00+00:00 | {"Bitcoin": [2177]} | {} | Former South African President Nelson Mandela Has Died At The Age Of 95 | https://finance.yahoo.com/news/nelson-mandela-dead-former-south-214601415.html | Business Insider | http://www.businessinsider.com/ | AP
Nelson Mandela and wife Winnie, walking hand in hand, raise clenched fists upon his release from Victor prison, Cape Town, Sunday, February 11, 1990.
Nelson Mandela has died today at the age of 95, according to South African President Jacob Zuma. His death marks the final chapter in a life that changed South Africa forever.
The former South African president had been suffering from a recurring lung infection, and the Daily Telegraphreports that his friends and familyhad gathered at his bed today. Zuma announced his death in a televised address to the nation, telling mourners that Mandela, often affectionately referred to by his Xhosa clan name "Madiba," had passed away at 8:50 p.m. local time.
"Our nation has lost its greatest son, yet what made Nelson Mandela great was precisely what made him human," Zuma said. "We saw in him what we seek in ourselves, and in him we saw so much of ourselves."
Mandela's struggle was one of the defining stories of the 20th century. Trained as a lawyer, he became involved in politics after 1948 as South Africa moved into a system of racial apartheid. While initially espousing non-violent protests with the African National Congress (ANC), he eventually founded a militant organization and was behind a bombing campaign in the early 1960s. He was arrested and sentenced to life in prison in 1962.
Initially imprisoned in a8-foot by 7-foot concrete cell with only a straw mat on which to sleep, Mandela's imprisonment soon became an international cause. He was eventually released on Feb. 2, 1990 after intervention by President F. W. de Klerk.
Mandela became president of the ANC in 1991, and was elected president of South Africa in May 1994, a position in which he remained until 1999. During his time in office he led the dismantling of the apartheid system, for whichhe was awarded the Nobel Peace Prize in 1993.
Mandela is survived by his wife, Graça Machel; six children; and 17 grandchildren.
Mandela had been sick for a long time. Earlier this year, South Africa's Sunday Times ran a story on Mandela's illness under the headline "It's time to let him go."
AP
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1,386,280,860 | 2013-12-05 22:01:00+00:00 | {"Bitcoin": [1388]} | {} | Tipping Less Than 20% Will Make You Seem Cheap | https://finance.yahoo.com/news/tipping-less-20-seem-cheap-220154865.html | Business Insider | http://www.businessinsider.com/ | WikiMedia Commons
When it comes to tipping waiters, 15% no longer cuts it.
That's according to a new study from data providerPayScale, which finds that the typical American leaves tips of more than 19% for wait staff. The finding largely holds true across generations, regions, income brackets, and genders, suggesting that bigger tips are part of a widespread cultural shift.
"It's something that has been evolving over time, that the standard of 15% has been changing," said Katie Bardaro, lead economist for PayScale. "It seems to be an overall migration."
Here's a quick breakdown of the data:
Both men and women tip waiters generously, at nearly 20%.
Business Insider
Most income brackets tip generously as well, though people making less than $25,000 still stick closer to 15%.
Business Insider
Of the regions in the U.S. that are defined by the Census, New England tips the most . The West South Central region (that's Arkansas, Lousiana, Oklahoma, and Texas) tips the least.
Business Insider
It's important to keep in mind that the tips waiters get make up the bulk of their income. According to PayScale's data, waiters make 62.71% of their hourly income from tips. That's second only to gaming dealers.
"When you don't tip your waiter, you're actually costing them a large portion of their take-home pay," Bardaro says.
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1,386,281,106 | 2013-12-05 22:05:06+00:00 | {"Bitcoin": [920]} | {} | Is 'Smart Beta' Just a Fancy Word Trick? | https://finance.yahoo.com/news/smart-beta-just-fancy-word-220506890.html | ETFguide | http://www.etfguide.com/ | Are 'smart beta' strategies really a new and better breed than competing investment strategies or just an innovative word trick for something else?
James Montier, a member of GMO's asset allocation team observes:
"When these strategies are corrected for their exposure to 'value' and 'small,' they exhibit no statistically significant outperformance compared to the cap weighted benchmark. In other words, the fact that smart beta has outperformed has nothing to do with the story told (i.e., better covariance matrix, exploiting index hugging, or contra trading against the cap weighted benchmark), it is simply that they embed exposure to value and small, two traits known to have outperformed over time."
"Smart beta strategies are at the intersection of active and passive investing. Their goal is to beat the market using a rules based, transparent, low-cost approach," says Research Affiliates.
LISTEN: "Beware of Bitcoin Mania" from Ron DeLegge's latest podcast
Smart beta strategies in the investment world generally fall into two camps: 1) Indexes that use a one-dimensional or simple formulas, like equal weighting all the stocks within a benchmark like the Guggenheim S&P 500 Equal Weight ETF (RSP-News) does. Or, 2) Weighting stocks within a portfolio using a multiplicity of complex factors like book value and cash flow, as does the PowerShares FTSE RAFI US 1000 Portfolio (PRF-News).
Smart beta's goal is to outperform traditional market cap weighted indexes and active managers. In less sophisticated circles, this is just known as "beating the pants off of everything."
ETFs that weight companies by dividends like the WisdomTree Large Cap Dividend Fund (DLN-News) or the iShares Select Dividend Fund (DVY-News) are other offshoots of the smart beta movement, despite their singular focus on dividends.
Over the past five years, PRF and RSP have handedly outperformed the S&P 500 (VOO-News) and other cap weighted benchmarks linked to large company stocks.
But even with impressive historical performance by smart beta indexes comes a notable admission.
"Seen from another perspective, the smart beta strategies inherently have value and small size tilts relative to cap-weighted benchmarks," notes a 2011 paper by Chow, Hsu, Kalesnik and Little. Isn't that essentially the same point Montier, a critic of smart beta, makes? Wouldn't this point also make smart beta strategies essentially an old concept but in entirely new packaging?
Furthermore, can't investors simply tilt their portfolios to overweight small cap and value stocks with corresponding funds, rather than relying on a smart beta ETF to do it for them?
Another issue deals with whether smart beta strategies, which have been optimized in a financial laboratory, can replicate that same type of historical success in the real world. Regardless of how long a smart beta strategy has been backtested, the real test is how it performs in the future.
"Smart beta is an impressive branding story. Investors should question the labels and recognize the emotion that may be involved in the narratives, said Colin McLean, a writer for the CFA Institute's blog.
Sounds like pretty smart advice for even the dumbest of people.
TheETF Profit Strategy Newsletteruses technical, fundamental, and sentiment analysis along with market history and common sense to keep investors on the right side of the market. Since the beginning of the year, 74% of our weekly ETF picks have been winners. (through Q3 2013)
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1,386,290,111 | 2013-12-06 00:35:11+00:00 | {"Bitcoin": [0, 282, 514, 660, 822, 993, 1252, 1447, 1520, 1586, 1780, 1813, 1962, 2008]} | {"Bitcoin": [17]} | Virtual Currency Bitcoin Takes Off on Mobile Apps | https://finance.yahoo.com/news/virtual-currency-bitcoin-takes-off-003511803.html | Money Talks News | http://www.moneytalksnews.com | Bitcoin, the unusual — and volatile — virtual currency created in 2008, is being quickly adopted as a payment method.
The main reason why is mobile apps, Bloomberg says, although using the currency is also a convenient way to reduce or avoid money transfer and banking fees.
“Since Bitcoins exist as software, apps on wireless devices are an efficient way to transfer money,” Bloomberg says, good for “storing digital money in virtual wallets, paying other people and stores for goods and services, and exchanging Bitcoins for dollars and other currencies.”
There are hurdles to widespread adoption, though. China has outright banned its banks from processing Bitcoin transactions, Bloomberg says. In the U.S., the Consumer Financial Protection Bureau for now is merely watching the mobile payments market, which includes Bitcoin. The U.S. Justice Department has called for policies regulating their use.
But the biggest barrier is probably the mobile store platforms. Apple has rejected many Bitcoin payment apps, Bloomberg says — its app market has about 100 compared with about 250 on Android devices. Apple is particularly concerned about apps that convert the digital currency into others, and it’s not hard to understand why.
Wefirst wrote about Bitcoin in April, when they were bouncing between $130 and $260 each. In February, they were only $20. Early this week they were worth more than $1,000 apiece, says CNBC, which profiled an early Bitcoin investor who holds millions in the currency and has been called “Bitcoin Jesus.”
“There are thousands of vendors online who accept Bitcoins as payment,” saysTime’s Jessica Roy. Roy bought all her Christmas gifts online this year with the currency, but says it’s still hard to find brick-and-mortar stores that easily process Bitcoin payments.
Do you own any Bitcoins? Would you consider it? Comment below or onour Facebook page.
This article was originally published onMoneyTalksNews.comas'Virtual Currency Bitcoin Takes Off on Mobile Apps'.
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1,386,320,520 | 2013-12-06 09:02:00+00:00 | {"Bitcoin": [8176]} | {} | Today's Jobs Report Is Even More Important Than The Last One — Here's Everything You Need To Know | https://finance.yahoo.com/news/todays-jobs-report-even-more-090200546.html | Business Insider | http://www.businessinsider.com/ | St. Louis Fed
Job growth is making a comeback in 2013.
On Friday, at 8:30 AM ET, the U.S. Bureau of Labor Statistics releases the most important economic data release on the calendar: the November Employment Situation (a.k.a. "the jobs report"), which Wall Street economists believe will show that 185,000 workers were added to nonfarm payrolls last month.
Many believed the October jobs report would be negatively affected by the government shutdown that spanned the first two weeks of the month. Instead, it showed that the economy shrugged off the shutdown, creating 204,000 nonfarm payrolls in October — well above the consensus 120,000 estimate.
The unexpected acceleration in hiring caused a big sell-off in the Treasury market as investors re-calibrated forecasts of when the Federal Reserve is most likely to begin winding down (i.e., taper) its quantitative easing program — the sole consideration dominating markets at the moment.
In recent weeks, we have seen a lot of positive economic data points that seem to confirm that the U.S. economy accelerated in October and November, including various indicators of labor market activity.
Tomorrow's jobs report could be the key confirmation many investors are looking for.
"In our view, the strength in the October employment report put the possibility of a December taper back on the table, after a weak September employment report had dimmed the prospects," says Deutsche Bank chief U.S. economist Joe LaVorgna. "Another month of solid job gains (inclusive of revisions) increases the probability that policymakers will taper when they meet at the December 17-18 FOMC meeting."
Regardless of whether a strong November jobs report will actually spur the Fed to consider tapering QE in December, it's a game of probabilities for market participants, so a big nonfarm payrolls number will force the market to adjust accordingly.
Business Insider/Matthew Boesler (data from Bloomberg)
Gennadiy Goldberg, an interest rate strategist at TD Securities, argues that "w ith the market already pricing in increasing odds of a January taper amid the steadily improving flow of economic data," an above-consensus nonfarm payrolls print in the range of 190,000-225,000 will only spark a "mild sell-off" in the Treasury market.
Indeed, on the back of a sell-off that has gripped the market over the past six weeks, the yield on the 10-year Treasury note is at 2.87% — right where it closed on September 16, when imminent tapering was widely believed to be largely priced into the market.
Below are consensus forecasts for the major components of the November jobs report:
• Change in nonfarm payrolls:185,000, down from 204,000 in October
• Change in private payrolls:180,000, down from 212,000 in October
• Change in manufacturing payrolls:10,000, down from 19,000 in October
• Unemployment rate:7.2%, down from 7.3% in October
• Average hourly earnings growth:0.2% from the previous month, up from 0.1% in October
• Average weekly hours worked:34.5, up from 34.4 in October
Estimates for the crucial, market-moving nonfarm payrolls number range from 115,000 to 230,000, according to a survey of Wall Street economists polled by Bloomberg.
Société Générale economist Brian Jones is usually on the higher end of that range — his forecast has been above consensus every month for the last year.
This time, however, he's slightly bearish — predicting 150,000 — given where the Thanksgiving holiday fell on the calendar this year.
"We have found that the placement of Thanksgiving over the 22-28 November span can provide either a significant lift to or exert a considerable drag on estimated job growth in that month," explains Jones. "Reflecting the early hiring of seasonal holiday workers when the fourth Thursday of the month falls between 22-24 November, the estimated change in payroll employment is on average 57,000 above what the fundamental variables in our model would suggest. The converse is essentially true when Thanksgiving is observed over the 26-28 November period. Indeed, our estimated coefficient – a drag of 45,000 – is almost symmetric."
Perhaps the most interesting forecast is also on the bearish side of the spectrum.
Toby Dayton, CEO of the job listing search engine LinkUp, predicts the nonfarm payrolls number will actually benegativefor the first time in over three years.
"With the 6.4% decline we saw in our September LinkUp data, we are anticipating a massive downward revision to a gain of only 65,000 jobs last month,"writes Dayton in a poston the LinkUp blog. " If October’s numbers are as horrible as we believe them to be, we are forecasting that the economy actually lost jobs in November for the first time since September 2010. With the 5.6% decline in new and total job listings in the LinkUp index in October, we predict that the U.S. showed a net loss of 25,000 jobs in November."
Needless to say, that would be quite a surprise.
Finally, courtesy of Goldman Sachs economist David Mericle, here are all of the data points that point to either a strong or a weak report.
A number of factors point toward a moderately strong report:
1.Strong recent trend.The three-month average of nonfarm payrolls now stands a bit over 200k, and the 204,000 gain in October was an impressive positive surprise relative to expectations for a shutdown-induced slowdown.
2.Job cuts.Challenger, Gray & Christmas reported a decline in seasonally adjusted job cuts in November, despite a boost from the final closing of two large chain stores.
3.Job advertisements.The Conference Board's measure of new job ads reported in its Help Wanted OnLine index rose in November. While the index is quite volatile month-to-month, its four-month average has steadily improved since July.
4.ADP.Once again, the ADP report proved to be a poor indicator of payrolls in October. In addition, methodological revisions late last year have made its predictive power for private non-farm payrolls difficult to gauge. However, yesterday's report showed a strong 215k gain and suggested in particular that recent employment gains in the construction and manufacturing sectors would continue in November.
Other indicators are sending a neutral-to-weaker message:
1. Business surveys.The most worrisome sign for November payrolls is the decline in the employment component of the ISM non-manufacturing index, which we have found to be the most valuable business survey for forecasting payrolls, from 56.2 in October to 52.5 in November. Partly offsetting this, the Richmond Fed's service sector survey reached a record high and the employment components of the ISM manufacturing index and the Chicago PMI both improved.
2.Cold weather. While October had an unusually small number of cold days, November had an unusually large number. Our model suggests less supportive weather could detract about 10k from November payrolls relative to October.
3. Jobless claims.The jobless claims data have been difficult to interpret over the last couple of months as a result of distortions in October and challenges associated with seasonal adjustment during holiday weeks in the second half of November. However, the early November prints in the low 340s were roughly in line with or a touch above the four-week average before the distortions began.
4. Consumer confidence.Headline confidence numbers were mixed. The Conference Board's confidence numbers remain depressed last month, while the University of Michigan's consumer sentiment index beat expectations, suggesting that the shutdown's blow to confidence is beginning to fade. More importantly for payrolls, respondents to the Conference Board's consumer confidence survey who answered that jobs are "hard to get" exceeded the number answering that jobs are "plentiful" by 22.2 percentage points, a slight improvement from October.
We will be flooding the zone with jobs report coverage Friday morning.Follow the release LIVE on Business Insider »
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1,386,328,081 | 2013-12-06 11:08:01+00:00 | {"Bitcoin": [0, 68, 108, 170, 202, 216, 275, 364, 411, 579, 605, 636, 796, 837, 864, 925, 1001, 1062, 1195, 1237, 1327, 1409, 1463, 1559, 1654, 1713, 1768]} | {"Bitcoin": [18, 43, 69]} | Google Adwords of Bitcoin - Advertise Your Bitcoin Business And Earn Bitcoin | https://finance.yahoo.com/news/google-adwords-bitcoin-advertise-bitcoin-110801891.html | null | https://guce.yahoo.com/terms?locale=en-US | Bitcoin businesses can reach their target demographic of passionate Bitcoin users easily with coin URL, and Bitcoin webmasters can easily monetize their traffic and earn Bitcoin.
December 6th, 2013 /MM-BitcoinPR/ -- Bitcoincost-per-click network Coin URLis one of the oldest Bitcoin advertising networks in the industry; having been first established in 2011. For Bitcoin businesses wishing to advertise on the Bitcoin CPC network, Coin URL offers features to rival Google Adwords: geotargeting, language targeting, vertical targeting, and selection of the cost per click bid in Bitcoin.
Coin URL accepts Bitcoin website publishers and Bitcoin business advertisers from all over the world including Germany, Poland, Canada, China, Asia, Europe and even Antarctica. Anyone across the globe with a Bitcoin website in any language can earn Bitcoin, and anyone with a Bitcoin business to promote anywhere in the world can target Bitcoiners in their country who speak their language.
Coin URL also enables Bitcoin webmasters toeasily monetize their websites and earn Bitcoinby placing Coin URL ads on their site. Publishers have full control over the format, positioning, content and the earnings in Bitcoin of their advertisement slots.
For Bitcoin webmasters running digital currency websites, and for businesses operating in the Bitcoin space: there is no rival to Coin URL ads for monetizing websites, and for Bitcoin businesses to reach their target user base of Bitcoin enthusiasts who want to hear about their revolutionary business. In total, the Coin URL Bitcoin advertising network serves over 7 000 000 unique hits per day of high quality targeted Bitcoin traffic.
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To learn more please go to:http://coinurl.com
Visithttps://coinurl.com/index.php?ref=52518782326257b9ed8006401b4e74b8for more information.
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###This announcement is sourced from MarketersMedia[Link].
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: MarketersMedia via GlobeNewswireHUG#1748303 |
1,386,332,220 | 2013-12-06 12:17:00+00:00 | {"Bitcoin": [592]} | {} | Sears Shares Are Higher | https://finance.yahoo.com/news/sears-shares-climb-retailer-announces-121700606.html | Business Insider | http://www.businessinsider.com/ | Land's End
Sears shares are up 1.6% this morning to $50.80 after the Chicago-based retail giantannouncedit was spinning off its Land's End clothing division.
Land's End was sold to Sears in 2002 for $1.9 billion.
Sears shares have fallen 20% this week on reports of flagging sales. It's beenlosing market share to other big-box retailers, and Fitchrecently downgraded some of its debt.
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1,386,336,240 | 2013-12-06 13:24:00+00:00 | {"Bitcoin": [35, 288, 758, 790, 886, 1731, 3159, 3344, 3412, 3529, 3602]} | {"Bitcoin": [30]} | PRESENTING: The Most Powerful Bitcoin Miner In The World | https://finance.yahoo.com/news/presenting-most-powerful-bitcoin-miner-132411051.html | Business Insider | http://www.businessinsider.com/ | Rob Wile/Business Insider
Mining a Bitcoin, which involves directing large amounts of computing power at solving complex equations, doesn't come cheap.
Werecently told youabout the gonzo sales Stockholm-basedKnCMinersaw on Black Friday for its Neptune device, set to be the most powerful Bitcoin mining device in the world when it's released.
It won't be available until next year, and you won't be able to get it right away unless you're a pre-existing KnC customer. And it will cost $13,000.
We got our hands on the next best thing: KnC's Jupiter miner, currently the world's most powerful. You actually can't purchase one of these now either — KnC has promised all customers who bought before August that it wouldn't sell anymore so as not to disrupt the Bitcoin mining difficulty rate. Bitcoin is designed so that the more people mining, the more power is required to mine a single Bitcoin.
But yesterday, Alex Lawn, KnC's English head of technical communications, stopped by our offices to demonstrate a Jupiter model.
Check it out:
Lawn carried around the miner in this box, which helped land him an hour's audience with JFK customs officials.
Rob Wile/Business Insider
Lawn removed the casing right away so we could check out the inside. The casing isn't much to look at anyway, although you can get a sense from the branding that KnC,which started out as a corporate IT shop, is not some fly-by-night operation.
Rob Wile/Business Insider
And here's what he wanted us to see: four circuit boards with fans stacked on top. Don't laugh: It took four-and-a-half months and more than $3.5 million dollars to build.
Rob Wile/Business Insider
Right now, at the current rate of mining difficulty, one of these babies can print one Bitcoin in three days. By comparison, it now takes the average miner about two months to do so. (We weren't really able to mine any because we weren't mining for long enough.)
Rob Wile/Business Insider
The real star of the show actually fits in the palm of your hand: a 28 nanometer application-specific integrated circuit. These are usuallyfound in the iPhone 5s. Now they're used to power printing presses.
Rob Wile/Business Insider
The key to the 28 nm ship is its power efficiency: It uses 40% less power than a 40g computer. However they do still eat up a lot of electricity — this machine alone would add $4 a day to your electric bill — which is why you need the fans blasting.
Rob Wile/Business Insider
Here's what you would see on your mining monitor if you actually had one up and running for real. It shows how well your machine is performing ((avg. hash rate"), and the current mining difficulty rate.
Alex Lawn/KnCMiner
And this is what you'll see when the miner is operating — "accepted" means it's solved one of the complex equations:
Alex Lawn/KnCMiner
Lawn would not reveal how many Jupiters they've sold, only to say that each of their batches have sold out, and that individuals in 120 different nations, including Swaziland, have purchased a unit.
Rob Wile/Business Insider
Again, their is a commitment to branding: the company's motto is, "The whole world, only one block apart" — referring the "blocks" of Bitcoin the miners must unlock.
Rob Wile/Business Insider
At $5,000, these don't come cheap — though you'd only be able to get your hands on one second hand anyway. Things move fast in Bitcoinland.
Rob Wile/Business Insider
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