Bitcoin Buckles Under Tightened Regulatory Vigil, According to New Report by Global Industry Analysts, Inc.

San Jose, CA (PRWEB) May 27, 2014

Follow us on LinkedIn – As one of the most disruptive forces in modern finance, bitcoin took the financial and monetary system by storm. Strong adoption of the technology by people helped bitcoin rise to fame and stardom as the most successful digital currency. A revolution in the concept of currency, bitcoin during the initial years of its launch elicited a mixture of interest, fevered speculation, intense hype, praise, pessimism, skepticism, criticism, and fear, among governments and people worldwide. Defined as a cryptocurrency, bitcoin evolved during the financial turmoil of the 2007-2009 period, as a means to enable electronic payments by circumventing financial institutions. Unlike most other virtual currencies which are backed by central banks, bitcoin is backed by technology based trust such as cryptographic proofs. As a decentralized digital currency, bitcoin overthrows the risks associated with intrusive governmental regulatory policies on financial transactions. Unstable global financial markets during the period 2009-2013 therefore played a key role in fuelling the early popularity of bitcoin. As several major economies descended into monetary dysfunction and with fiscal strategies like quantitative easing devaluating local currencies and triggering massive migration of savings to safer investment options, bitcoin witnessed increased acceptance during this period. The then prevailing monetary realism in the world economy and the complete collapse in confidence in government issued currency as a result of the government’s failure to act as a good steward of the currency therefore benefited the early development and evolution of bitcoin.

Following the first few years of extraordinary success witnessed in terms of bitcoin’s dizzy ascent in value, popularity and acceptance, the currency system of late is witnessing a major fall from grace with several developments and events casting a cloud over its future. Key events which have negatively impacted bitcoin include widespread government control, restrictions, and ban as a result of fears over the technology’s ability to challenge the hegemony of state money, and repeated failure of the infrastructure that supports the wider bitcoin economy. The debacle of Mt. Gox attributed to technical glitches stands testimony to the system weakness surrounding bitcoin. The fall of Mt. Gox has dealt a mortal blow to public perception, confidence and acceptance of bitcoin and is likely to derail the development of the market and in the process steal over a decade of advancement and growth.

Widespread government control has also largely impacted the market. An increasing number of governments worldwide are growing wary of the risks involved in allowing bitcoin to be transacted freely in the global capital markets, and are therefore actively regulating and banning the currency. Although in its current nascent state, bitcoin offers no real threat to sovereign currencies and global commerce, uncontrolled and unregulated growth of this nationless currency has the ability in the long-run to undermine the strength, stability and confidence of government issued money. The decision of the Chinese government to regulate bitcoin, for instance, has been a major blow to the market, marking the virtual demise of bitcoin in China, which until now was one of the largest markets worldwide. China’s ban on bitcoin in effect has lowered the potential of bitcoin in terms of its ability to make an impact in the global financial market.

The market in the coming years will continue to be impacted by geopolitical events. Other factors which have impacted the market include volatile fluctuations in value, instances of bitcoin theft, hacking, and use of the currency for money laundering transactions. All of these factors have resulted in a quick evaporation of consumer confidence in bitcoin and the initial unchallenged trust in bitcoin is ebbing out. Bitcoin in short has fallen prey to politics, government resistance to financial innovation, and infrastructure inefficiencies. Although bitcoin in its present incarnation is expected to fail, the technology nevertheless has created a legacy and has paved the way for the evolution and emergence of next-generation digital and progressive currency systems. The potential of bitcoin as being an alternative to fiat money has never materialized and still continues to be an unfulfilled promise, nevertheless, the concept of decentralized trust as epitomized by bitcoin has enormous, untapped potential.

As stated by the new market research report on Bitcoin, cumulative number of Bitcoins in circulation worldwide is projected to reach 18.1 million by 2018.

Major players in the bitcoin ecosystem include CoinTerra, KnCMiner AB, Robocoin Technologies LLC, Cloud Hashing, E-pickaxe, ANXBTC, Bitcoincentral, Bitcoinde, Bitcurex, BTC Markets, Bitfinex, BTCChina, Bitstamp Ltd., BTC-e, Campbx, Digital Future LLC,, Justcoin Exchange, Kraken, MercadoBitcoin, VirtEx, BitPay Inc., Coinbase, Gliph Inc., Coinsetter Inc., TruCoin Technologies LLC, BTCJam among others.

The research report titled “Bitcoin – A Market Hype or Reality: A Market Overview”, announced by Global Industry Analysts, Inc., provides a comprehensive review of the technology, market, current scenario, future outlook, trends, issues, drivers, challenges and strategic industry activities. The report provides market estimates and projections for cumulative number of bitcoins in circulation in the global market.

For more details about this comprehensive market research report, please visit

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

Email: press(at)StrategyR(dot)com

Web Site:

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Savvy Bitcoin Users Earn Over $8M in 3-Months with Major 536% ROI Upgrade

Bloomfield, CT (PRWEB) October 02, 2014

Bitcoin miners were excited to find a sudden surge in profitability after a major announcement by leading cryptocurrency hardware provider, GAWMiners. The announcement detailed the company’s plans to offer a free path to upgrade its legacy customers to the company’s revolutionary new bitcoin product, Hashlet Prime.

Hashlet Prime stands as the company’s latest flagship product, leading its Hashlet family of bitcoin miners which took the cryptocurrency industry by storm earlier this summer generating over $ 12M in sales within weeks of release. Boasting features such as zero pool fees, upgradeability, access to the most profitable pool in the world, and the ability to mine multiple algorithms, Hashlet Prime is widely considered the most powerful bitcoin mining product in the world.

While Hashlet was in development, undergoing months of R&D, hundreds of GAWMiners’ customers purchased millions of dollars worth of its previous flagship product, The Vaultbreaker which broke records this June when it launched. Since then, Hashlet Prime was announced while Vaultbreaker orders were still being fulfilled, CEO Josh Garza announced that the company would honor all requests to upgrade Vaultbreaker customers to the latest Hashlet Primes, which command over 5x the price pound-for-pound. Instead of having to pay thousands for an upgrade, Vaultbreaker customers were given the choice to do so for free.

“The customers who invested with us early on shouldn’t have to pay the price for us maintaining our trade secrets” explained Garza as he outlined why his company would offer such an enticing deal. “Giving our earliest customers the same opportunities as our customers today should be the bare minimum. That’s why we’re doing this upgrade for free.”

The announcement comes to the relief of many as companies such as KnC and Butterfly Labs have set the tone in the industry for drastically late shipments and stealing customer mining time with their own products. The later has even been shut down by the FTC as it investigates false advertising and fraudulent practices.

The free upgrade announcement, made in the popular bitcoin community, on the other hand was met with great celebration with a post receiving over 1000 responses within hours. GAW’s decision produced $ 8m+ of profit for Vaultbreaker customers who mine cryptocurrencies like bitcoin with GAWMiners.

Garza ended the announcement with a bold statement to the community:

“This is only the beginning. GAWMiners is here to stay. “

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4 Petahashes of World’s Most Advanced Swiss-made ASIC Bitcoin Mining Hardware Hits the Market

(PRWEB) September 12, 2013

BITMINE AG, a Switzerland-based Bitcoin miners manufacturer already well known for being one of the very few advanced bitcoin-mining hardware manufacturers in the world that actually delivered their units, officially started to collect orders for Bitcoin-mining hardware based on their groundbreaking “CoinCraft” 28-nanometer ASIC design. Since Monday September the 9th at 20:00 when pre-orders officially opened, following a pre-sale promotion in China through Bitmine’s Chinese distributer HXTOP.COM, more than 2.5 PetaHash/s worth of miners and ASIC chip lots have been ordered or reserved to the tune of 15 million US dollars. The CoinCraft miners are available in two major form factors, one called the “CoinCraft Desk” in a desktop case and configurable from 200 to 1000 GH/s at prices ranging from $ 1499 to $ 7099, and the “CoinCraft Rig” in a 19” rack mount case configurable from 500 to 2000 GH/s at prices ranging from $ 4249 to $ 14999.

Both models are based on the CoinCraft A1, the custom ASIC chip developed by Bitmine in co-operation with Innosilicon that is based on Global Foundries’ 28nm HPP process and is designed with a fully custom high speed architecture. Both power efficiency (starting at just 0.35 W/GH/s) and pricing (starting at 4.5 $ /GH) make it the most advanced solution in today’s Bitcoin mining world.

Shipping of the miners is starting from the 10th of December 2013 and all purchases will be covered by Bitmine’s Customer Protection Plan, an agreement under which the customers will get compensated with increased hashing power in case of a short delay, arise, with a complete refund option and a penalty available in case of a more significant delay.

Moreover, Bitmine AG is proud to announce to have formed a strategic partnership alliance with one of the world’s leading mining pools – 50BTC, 50BTC users will enjoy a special advanced pool configuration for their miners, performed directly at Bitmine AG’s assembly plant, and receive a dedicated support and significant discount from 50BTC, as a part of this special arrangement.

Spondoolies-Tech Introduces Bitcoin Industry’s Most Powerful ASIC and Mining Rig

Kiryat Gat, Israel (PRWEB) June 10, 2014

Spondoolies-Tech, maker of superior Bitcoin mining equipment and hosting solutions, introduces the new RockerBox ASIC, which at 0.34 W/GHs leads the industry with the lowest power-to-performance ratio in the market. With power and efficiency never seen before, the RockerBox ASIC will drive Spondoolies-Tech’s second-generation SP30 mining rig, making it the most powerful Bitcoin miner available.

SP30 Yukon: The Most Powerful Bitcoin Miner Available, With 6TH/S of Pure Mining Power

Spondoolies-Tech CEO Guy Corem said: “With a successful tapeout behind us, we can now safely update the SP30 specs and announce that the SP30 will be able to hash at an unparalleled 6 TH/s, with an efficiency of 0.46 W/GH/s. This is a new industry standard never seen before, and the lowest power and price-to-performance ratio in the market.”

The SP30 offers over four times the hashing power of the company’s first-generation SP10, and twice the hash to power ratio. Despite its enhanced capabilities, this model is housed in a slim 2 U case suitable for both home and data center hosting.

Corem added: “Taping out on schedule was the most important milestone to ensure our SP30 mining rigs will be ready for on-time delivery — consistent with our goal of setting the industry standard for quality and customer service. As a result of brisk sales, we quickly sold out the first available batches of SP30s, and we’re now taking orders for deliveries in September.”

Orders for September Delivery Now Accepted

Orders for the SP30 can now be placed for delivery as early as September. These units are currently available for only $ 5,095.00 USD. Payment can be made in Bitcoin, Dollars, or Euro at

Hosting Solutions Available

For customers who don’t want the hassle of managing their Bitcoin mining equipment, Spondoolies-Tech offers affordable hosting solutions. Customers who purchase SP30 can now operate the world’s finest ASIC mining rigs without having to bother with the technical details of maintaining the equipment. For more information, contact sales(at)spondoolies-tech(dot)com.

RockerBox ASIC Technical Specifications

Process Node: 28 nm

Package Type: 19 mm x 19 mm FCBGA

I/O: Serial protocol with clk, datain and dataout

Rated Hash Rate: 200 GH/s per chip, with a wide range of overclock/downclock options

Rated Voltage: 0.7 V, recommended voltage range is 0.63 V – 0.8 V

Power Consumption: 0.34 W/GH/s

SP30 Yukon Technical Specifications

Effective Hash Rate: 6TH/s ± 10%

ASIC: Total 30 Spondoolies-Tech Rocker ASICs

Controller: TI Sitara 1GHz (based on Beagle Bone Black)

Controller Board OS: Linux (embedded)

Mining Software: cgminer with custom plugin

Form Factor: 2 U rack mountable (mounting ears required)

Network: Single 10/100 Ethernet port

Fans: 4 X 80 mm

Power Supply: 2 x 1200 W

Input Rating: 90 – 264 VAC

Nominal Power Consumption: 2500 W

Ambient Operating Temperature: 0 °C to 35 °C

Emissions Compliance: FCC / CE

Safety Certification: CE

About Spondoolies-Tech

Spondoolies-Tech designs and delivers the world’s finest high-performance Bitcoin mining equipment and hosting solutions. Founded in 2013 by a group of Israeli high-tech veterans, Spondoolies-Tech raised over $ 5.5M in funding led by Genesis Partners and BRM. With an engineering team comprising veterans of the semiconductor industry and firms such as Intel, Google and Motorola, the company designs and produces machines from the ground up. Easy to use and simple to set up, these mining rigs are suitable for both private and commercial use. Devoted to creating the world’s best Bitcoin miners, the company has earned a reputation for delivering the highest levels of efficiency and performance, coupled with industry-leading service and support. Online at, Twitter @SpondooliesTech or Facebook

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