Edward Snowden Loves Zcash & Thinks Bitcoin’s Public Ledger is a Fail – #OPINION

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Snowden apparently has fallen in love with a few specific cryptocurrencies…

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Note: This is not financial advice as all investing is speculative. Have fun and good luck!

Use bitcoin miner to earn some bitcoins for your services

If you are new to bitcoin mining then you should know some basics before actually starting to become a bitcoin miner and in general the bitcoins can be considered as decentralized peer to peer digital money which is controlled by the users and is an open source software that was developed and come into use to the general public in the year 2009. So if you want to also use the bitcoins you need to first create a wallet securing it to carry on the transactions like sending and receiving bitcoins in your account. You should also note that the transactions with bitcoins are irreversible and is somewhat still in the experimental stage with becoming slowly popular in many countries as an alternative system to the currencies.

So you can actually get these bitcoins either by buying them from a bitcoin exchange counter or collect them by accepting as a payment for your goods or services. However, there is also other way that you can get bitcoins and that is by becoming a bitcoin minor where you can earn bitcoins for the services you render in processing the transactions by running software with the help of special hardware that has been developed for this mining activity. All activities that are carried on worldwide with bitcoins are registered as blocks and as a bitcoin miner you need to checkout for those transactions broad cast using to your hardware solutions and complete the task to earn bitcoins for your services.

So to perform this task with expertise you need to look out for reliable hardware and software solutions that are being offered in the market by different manufacturers in the field. So you can lookout for equipment like antminer S1 that comes as 180-200GH/s ASIC bitcoin miner, antminer S2 with specifications like 1TH/s ASIC bitcoin miner or other products like Grid seed blade 5.1 MH/s scrypt ASIC miner etc that makes you job easy with high precision and speed in solving the transactions for building blocks and earning your bitcoins for your account. Depending on the hardware specifications the prices of these products vary and once you place an online order for them making PayPal payment you can receive the miner within 5 business days to start your bitcoin mining activity.

So to catch up with this digital currency just order for a bitcoin miner and earn some coins that you can really use up for buying any goods or services who accept these bitcoins for real money.

Are you Looking for bitcoin miner hardware equipment you are at right place. We proved Latest bitcoin miner products like antminer s2, Antminer S3, ASIC Bit Coin Miners at unbeatable prices. To know more about antminer please visit our website.

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How a total n00b mined $700 in bitcoins

How a total n00b mined 0 in bitcoins
This is the second in a two-part series exploring Butterfly Labs and its lineup of dedicated Bitcoin-mining hardware. In part one, we looked at the company and the experiences customers have had with it. In part two, we share our experiences running a …
Read more on Ars Technica

FTC claims Butterfly Labs shipped USED mining rigs
FTC claims Butterfly Labs shipped USED mining rigs A federal judge recently granted the Federal Trade Commission's request to shut down the operations of Butterfly Labs, Inc., a company that makes ASIC Bitcoin mining gear, over suspicions of fraud.
Read more on SiliconANGLE (blog)

Butterfly Labs finally ships out last year's Jalapeno orders
Finally, after more than a year of waiting, those who preordered the 5GH/s Jalapeno ASIC Bitcoin miner from Butterfly Labs should start receiving their orders. Butterfly Labs announced today that nearly every Jalapeno order through July 3rd 2012 has …
Read more on CoinDesk

How to: Mine Bitcoins with Raspberry Pi and Butterfly Labs Jalapeno

Check out my latest Raspberry Pi project using a Butterfly labs Jalapeno 5 Gh/s Bitcoin miner and a Raspberry Pi Model B running Raspbian.

Buy a bitcoin miner: http://amzn.to/1tFLL5y
Get the Electricity usage monitor: http://amzn.to/175YWCs
Get a 5V2A power supply: http://amzn.to/13LeA49
And, the Raspberry Pi 2B: http://amzn.to/1zJlP9L

I use bitcoin.cz as my mining pool. But, I’d be interested to hear if you think there’s a better alternative.

Here are the commands to get it up and running:

sudo apt-get update && sudo apt-get upgrade

sudo apt-get install libusb-1.0-0-dev libusb-1.0-0 libcurl4-openssl-dev libncurses5-dev libudev-dev

wget http://ck.kolivas.org/apps/cgminer/cgminer-3.8.5.tar.bz2

tar xvf cgminer-3.8.5.tar.bz2

cd cgminer-3.8.5

(note the next line enables my ButterFly Labs bitcoin miner, if you have a different miner read the cgminer instructions)

./configure –enable-bflsc


sudo usermod -G plugdev -a `whoami`

sudo groupadd plugdev

sudo reboot

cd /home/pi/cgminer-3.8.5

(replace the information pool/username/password below with your information)

cgminer -o http://pool:port -u username -p password

(Once you’ve done all that – get it to get on startup!)

sudo nano /etc/rc.local

(now enter your cgminer -o line to run every time)

Comment below to let me know how you got on.

To see my other Raspberry Pi projects:
Outdoor Automated Lights: http://youtu.be/xc1daIb1LVc
Garage door remote: http://youtu.be/p2abZ90-eU0
File Server (NAS): http://youtu.be/fGYCrYT114o
Weather Station: http://youtu.be/dRT39e3PQrk

If you like the video or think it’s useful buy me a coffee: http://bit.ly/1kAous6

Donate with bitcoin! 1HfHr25qZQjPzwphPxpNaD5CytDNYcfzrJ

FTC Granted Approval to Sell Off Butterfly Labs' Bitcoins

Image by davispuh
Butterfly Labs 25 GH/s Bitcoin Miner
BitForce Little Single SC

FTC Granted Approval to Sell Off Butterfly Labs' Bitcoins
The Federal Trade Commission (FTC) has secured the authority to begin converting Butterfly Labs' bitcoin holdings into cash reserves. The motion was granted by the US District Court for the Western District of Missouri on 29th October and marks the …
Read more on CoinDesk

FTC shuts down Butterfly Labs, the second-most hated company in Bitcoinland
In June of 2012, Butterfly Labs became one of the first pop-up companies to announce a breakthrough in mining technology: application-specific integrated circuits, or "ASICs," designed specifically to mine bitcoin 1,000 times faster. At least two other …
Read more on The Verge

Feds: Butterfly Labs mined bitcoins on customers' boxes before shipping
On Monday morning at 9:00am, lawyers from the Federal Trade Commission (FTC) will ask a judge in a Kansas City federal courtroom to impose a preliminary injunction on Butterfly Labs (BFL), the embattled Bitcoin miner manufacturer. This would extend the …
Read more on Ars Technica

Bitcoin 101 – A Million Killer Apps – Bitcoin’s Big Bang of Disruption – Part 1 of 2

Too often a conversation about Bitcoin leads to some sketpic suggesting that Bitcoin has no killer app to take it to the next level. Nothing could be further from the truth. We’ve grouped together all the currently, under development, and already launched killer apps of Bitcoin, and in short order they became too numerous to count. So we had to break them up into two big videos which we’ve decided to call ‘A Million Killer Apps’. Wall Street take note, most of what you do is on the list.

Welcome to WBN’s Bitcoin 101 Blackboard Series — a full beginner to expert course in Bitcoin hosted by James D’Angelo. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar
Thanks, WBN

If you enjoy this episode please donate in bitcoins: 
Donate to Jamie: https://blockchain.info/address/1NgmjuqegdRkzkXpTcCbQcmk1HriwSucmy  
Donate to Thom: https://blockchain.info/address/1LAYuQq6f11HccBgbe6bx8DiwKwzuYkPR3
Donate to Leslee: https://blockchain.info/address/1KBb5D3E2nXepWnJYYuT76khA9XgmAoDgq
Donate to Theo: https://blockchain.info/address/19LsH8NPDu5ozG9byojL8CqqWTUHTSb8VG
Donate to Chris:
Or Subscribe at http://www.patreon.com/chrisj

Latest Reports

Bitstamp Operational Wallets Compromised

Drak’s Tweet


Bitstamp Passes Audit Overseen by Bitcoin Developer Mike Hearn

18,864 coins stolen from stamp?! that doesn’t look like a hot wallet!

Wallet explorer


[Bitstamp] “We have reason to believe that one of Bitstamp’s operational wallets was compromised on January 4th, 2015.”

Nejc: To restate: the bulk of our bitcoin are in cold storage, and remain completely safe.

From @BryceWeiner on Twitter:
“Theory going around is that this was a database attack and NOT a compromise of the hot wallet.”

Older News

Bitstamp is apparently broken or hacked. I suggest not depositing coins there till they respond.

Why top Bitcoin Exchanges are so amateurish it’s borderline-criminal.

From the Audience
Via Isaac: Private key generation with quantum random number generators (QRNG) and friends

Wallets we like

Please do your own research but these are some of the wallets we like:

https://copay.io/ (still in beta but holds promise)
https://www.bitaddress.org (for paper wallet generation)

Regulatory Clampdown Intensifies Amid Growing Interest in Bitcoins Apolitical Currency Characteristics, According to New Report by Global Industry Analysts, Inc.

San Jose, California (PRWEB) February 12, 2014

Follow us on LinkedIn – Although the Bitcoin market is now turning relatively bearish amid stabilizing consumer interest and drying up of media coverage, the currency continues to witness improvements in value, albeit at a more sustainable rate than hitherto recorded. As one of the most disruptive forces in modern finance, bitcoin took the financial and monetary system by storm. Over the last four years, strong adoption of the technology by people helped transform bitcoin as the most successful digital currency. A revolution in the concept of currency, and widely touted to be the future of money, bitcoin is currently eliciting a mixture of interest, fevered speculation, intense hype, praise, pessimism, skepticism, criticism, and fear, among governments and individuals worldwide.

The recession played an instrumental role in catalysing the development of the “bitcoin virtual currency system.” The complete collapse of financial ethics and the central banks’ inability to ensure the safety of a country’s banking system and protect the credit rights of the people, brought to fore political corruption, and bureaucratic influence over the financial services sector. The public resentment against the monetary system provided a fertile environment for the development of a monetary exchange system outside the ambit of the current government influenced monetary system and provided the reason for developing a free distributed currency system insulated from government interference. As debt ridden governments begin to utilize private savings, pension funds and bank deposits to pay off debts as evidenced by the “Cyprus Bank Heist”, the bitcoin concept offers the much awaited promise of wealth protection for citizens. As central banks scurry to devalue fiat currencies, bitcoin provides the much required refuge against erosion of wealth and savings. As financial markets obfuscate currency and money math to confuse investors, bitcoin pledges transparency, trust, and confidence. As a panacea for the numerous ailments of the current financial system, the bitcoin currency system has been witnessing massive popularity as the first step forward in the evolution of progressive currency systems.

With current global market stability still continuing to be a challenge, bitcoin continues to proliferate. International efforts to build a stronger and robust financial system, immediately following the 2007-2009 world economic recession, still represents an unfinished priority for governments worldwide. A balanced approach towards instating financial stability continues to elude the European and the US government. In the United States, the decision to raise the debt ceiling indicates failure to curb the government’s spending and debt levels, the long-term implications of which include hyper-inflation and reduction in the value of the dollar. In Europe, continuous intervention of the European Central Bank (ECB) to bailout distressed member countries in addition to raising the risk of hyperinflation also increases the risk of migration to other safer investment options like gold and bitcoin. With governments across the world printing paper currency to increase the flow of funds in the economy in a strategy popularly called “quantitative easing”, the resulting inflation and devaluation of money is feeding interest, among staunch supporters, in the revolutionary concept of bitcoin.

China emerged into a leading player in the bitcoin market largely due to the laissez faire approach adopted by the Chinese government. The Chinese government also actively supported the publicity of bitcoin until recently through government sponsored media coverage. The result of veiled recognition and government support of bitcoin was felt across China with the country threatening to possess the ability to potentially change the rules of the game by transforming bitcoin into over a trillion dollar cryptocurrency market. This early Chinese dominance compelled the United States to cautiously soften its regulatory stand to prevent falling back in the bitcoin race. This change in regulatory stand enabled US businesses to help bitcoin make a price comeback post Chinese crackdown. The recent crackdown on bitcoin trading by the Chinese government which fuelled widespread fears of China losing its dominance in the bitcoin game, witnessed the currency bounce back with unexpected vigour. Bitcoin’s successful survival in China marks the resilience of the currency and the ineffectiveness of regulatory measures to quell the currency’s popularity, thus opening up a new epoch in the lifecycle of the bitcoin market.

Major players in the bitcoin ecosystem include TerraHash, CoinTerra, Butterfly Labs Inc., KnCMiner AB, Robocoin Technologies LLC., Bitcoin Cloud Mining, Cloud Hashing, Pyramining, MinerLease, E-pickaxe, BitcoinFrenzy, Byteminr Limited, Bitcoin Central, BTCchina, Bitstamp Ltd., BTC-e, Campbx, Digital Future LLC., Mt.Gox Co. Ltd., RMBTB, VirtEx, BitPay Inc., Coinbase, Gliph Inc., Coinsetter Inc., TruCoin Technologies LLC, and 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 more than 1300 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: http://www.StrategyR.com/


Introduction To Bitcoins

Bitcoins are a digital currency created in 2001 by Satoshi Nakamoto. It is based on open source software and P2P networks with no central authority or issuers. The coins are saved on your computer in a wallet file or in a third party wallet. They can be exchanged between anyone with a Bitcoins address. The database of transactions is spread across a peer to peer network. They also use digital signatures to ensure they are only spent once and by the person who owns them.

They are created by a process known as Bitcoin mining. There is where you use CPU power on your computer in order to generate them. This also generates the encryption keys which keep bit coins secure. By generating the encryption you are rewarded with Bitcoins for your effort.
While the transactions are public the transactions themselves are psudeononymous. Many people who are concerned about privacy like to use Bitcoins for this reason. 
They are bought and sold through exchange sites. There they can be exchanged into traditional currencies like the Dollar or Euro or for virtual world currencies like the Linden dollar. 
Bitcoins have no central control so they cannot be controlled by any government or authority. There are also no chargebacks. 
There is a limit to how many can be created. There can be 21 million Bitcoins in total. This is to avoid the currency from becoming worthless from overproduction like fiat money. Diminishing geometric expansion combined with the expansion of Bitcoins provides an incentive for early adopters.
There are some scenarios of for failure that could happen to Bitcoins. These include a currency devaluation, a declining user base and a global government crackdown on the software and exchanges.
In order to get started to generate and trade Bitcoins you have to download and install what is called a Bitcoin client to your computer. This will give you the Bitcoin wallet and address. When people want to pay you give them your Bitcoin address and they send it to there.
If you want to make Bitcoins you are going to have to mine them. You do that by giving up your processing power to the Bitcoin network so it can encrypt transactions. You can create one block every ten minutes. Every block is 50 Bitcoins. You can use your computer to generate them when you are not using it or create mining rigs dedicated for that purpose. 
Bitcoins are a true 21st century currency. If you want to see how currencies of the future will be like download the Bitcoin client and start mining and trading today.