Bitcoin price slides as MTgox goes to shit hacked stolen derpness

The party is on!..oh wait..
well no don't ..the party for MTfailGox to hurry up and just freeking die is on!

Looks like they are well on thier way after the recent bout of bullshit here are the latest juicy tidbits floating around the interwebz.

1. the Mtgox cover your ass document

http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

"For several weeks MtGox customers have been affected by bitcoin withdrawal issues that compounded on themselves. Publicly, MtGox declared that “transaction malleability” caused the system to be subject to theft, and that something needed to be done by the core devs to fix it. Gox’s own workaround solution was criticized, and eventually a fix was provided by Blockchain.info. The truth, it turns out, is that the damage had already been done.
At this point 744,408 BTC are missing due to malleability-related theft which went unnoticed for several years.
 The cold storage has been wiped out due to a leak in the hot wallet"

yep your done go away already your site is shit thanks.

2. the oh yah your fucked mtgox news posts all over the webs like this one ...


http://valleywag.gawker.com/if-you-have-bitcoin-in-mt-gox-you-are-probably-fucked-1529946212

Bitcoin bullshit at MTgox

We all know your full of crap MtGox, your craptacular site has been shit for long enough nobody believes you anymore anyways. So apparently they locked all action at mtgox down blaming bitcoin source code.

Here is some interesting info:

http://falkvinge.net/2014/02/11/the-embarrassing-fact-mtgox-left-out-of-their-press-release/

: " in this specific code change, which happened a whole year ago.
This change was ignored by MtGox"

link to the bitcoin source code the mtgox seems to have ignored.

https://github.com/bitcoin/bitcoin/commit/58bc86e37fda1aec270bccb3df6c20fbd2a6591c

Bitcoin now accepted at TigerDirect

TigerDirect has seen the light and jumped on board the bitcoin train! The not only have added btc but fully embraced it with a really nice splash promo page featuring bitcoins all over. http://www.tigerdirect.com/indexus.asp  cmon NewEgg get with it this train is leaving the station!

Watch for TEKcoin its coming on strong. Buy now and reap compound interest profits, read more here

http://cryptokid.blogspot.com/2013/11/tekcoin-what-you-should-know.html

Bitcoin altcoin race keeps going as CATcoin, LottoCoin, FireFlyCoin are added to cryptsy.com

The latest of the coins added tonight at cryptsy.com are CAT, LOT, and  FFC get over to coinedup.com fast or somewhere and grab them as price is already on a mad tear to the sky. The altcoin mania continues as massive amounts of new users and money pours into the speculative markets. Grab a rocket and hold on people!

Ron Paul: Bitcoin could 'destroy the dollar'

"There will be alternatives to the dollar, and this might be one of them," said former U.S. congressman Ron Paul. If people start using bitcoins en masse, "it'll go down in history as the destroyer of the dollar," Paul added.

 story here http://money.cnn.com/2013/12/04/technology/bitcoin-libertarian/

More and more press. A serious press madhouse lately. Mainstream media is all over digital currency as it should be.  This is going to change everything,  like cell phones or the internet changed communication this is a paradigm shift for currency.

Political donations in virtual currency debate ongoing.

Forbes ran a article stating the government would be discussing the issue further.

The Conservative Action Fund asked the FEC to decide whether PACs could accept Bitcoin donations.

 Senator Mark Warner said that he’s been “following Bitcoin for months” but is only now “wrapping his head around it.” He then remarked offhandedly that the Federal Election Committee recently approved Bitcoin for political donations. But he’s incorrect.

“The Commission discussed the drafts but held over the matter until next Thursday’s open meeting,” says FEC spokesperson Julia Queen. The issue comes up again this Thursday.

full story here.

http://www.forbes.com/sites/kashmirhill/2013/11/19/no-you-cant-donate-bitcoin-to-politicians-yet/

Wall Street Journal mentions Cryptsy and Hobonickels

In a write up of the proliferation of altcoins coming on the heels of bitcoin success, the WSJ gave a plug to Cryptsy and Hobnickels.

That is amazing HBN was my brainchild and the first coin project I worked on. Nice to see it getting spotted out in the world.

http://online.wsj.com/news/articles/SB10001424052702304607104579210051252568362

Nevada Senator Dean Heller keen on virtual currency and Bitcoins

Nevada Senator Dean Heller keen on virtual currency and Bitcoins 

Virtual currency campaign donors appear quickly.

During the latest round of the senate hearing on Virtual currencies and Bitcoins senator Dean Heller of Nevada made several positive statements about Virtual currencies. This has inspired some currency developers and supporters to Tweet at the Senator offering campaign contributions in Virtual currencies.

@FrankoCurrency @SenDeanHeller Franko is an established and reputable crypto-currency. I'd love to make a donation in Franko (FRK) as well.
— CryptoNerd (@primaindustria) November 19, 2013

Bitcoin virtual currency Senate hearings schedule 11/19

• 3:34pm (ET)
  LIVE: VIRTUAL CURRENCIES
• • 9:01pm (ET)
    LIVE: VIRTUAL CURRENCIES

  http://www.c-span.org/Live-Video/C-SPAN3/

major Senate hearing on bitcoin, watch live!

FinCEN, US Secret Service and Bitcoin Foundation among witnesses to speak at major hearing on bitcoin


http://www.c-span.org/Live-Video/C-SPAN3/


Titled ‘Beyond Silk Road: potential risks, threats, and promises of virtual currencies’, the hearing is to take place at 15:00 (local time) in room 342 of the Dirksen Senate Office Building in Washington, DC.


“The purpose of the hearing is to explore potential promises and risks related to virtual currency for the federal government and society at large.
Witnesses will testify about the challenges faced by law enforcement and regulatory agencies in dealing with virtual currencies, like bitcoin.
The hearing will also provide a perspective from non-governmental entities who can discuss the promises of virtual currency for the American and global economies.”

NewYork considers Bitcoin Licensing

New York State Department of Financial Services announced it will be holding a public hearing on virtual currency regulation.


In August 2013, the New York State Department of Financial Services (NYDFS) issued a public notice that it has launched an inquiry into the appropriate regulatory guidelines for virtual currencies.


The release states. "Additionally, the hearing is also expected to consider the possibility and feasibility of NYDFS issuing a ‘BitLicense’ specific to virtual currency transactions and activities, which would include anti-money laundering and consumer protection requirements for licensed entities."
They claim this is for our safety and will help manage the spread of Bitcoin.


"BITlicense" would require consumer protection services, as well as anti-money laundering requirements, designed to make the currency less useful in cases of fraud and criminal activity.


uhm.. im sorry now we will have to pay . exactly who to use this free open source peer to peer service?


oh oh wait... ic its a national security issue


As the Department of Finance put it, "it is in the long-term interest of the virtual currency industry to put in place appropriate guardrails that protect consumers, root out illegal activity, and safeguard our national security."


i call bullshit... sounds like a regular oldschool shakedown. Somebody wants a cut of the pie.. or maybe is scared their bank institution may be under threat.

In August 2013, the New York State Department of Financial Services (NYDFS) issued a public notice that it has launched an inquiry into the appropriate regulatory guidelines for virtual currencies.

Read more: http://www.businessinsider.com/new-york-to-hold-hearings-on-bitcoin-2013-11#ixzz2kyPdcmdp

Litecoin to China BTC the family connection

BTC China is now the biggest Bitcoin exchange, surpassing the likes of Japan,USA and Europe in volume.  The man behind this new powerhouse market is none other than BTC China CEO Bobby Lee. Bobby Lee comes from a background including Walmart China and Yahoo.

BTC China is the first Bitcoin exchange in China and  has been running since June 2011. Things didnt really start to take off untill Lee became involved. BTC China recently dropped to feeless trading and the market exploded.

If you watch the Bitcoin market live now usd/china at the same time here http://bitcoinwisdom.com/markets/btcchina/btccny and here http://bitcoinwisdom.com/markets/bitstamp/btcusd. It becomes obvious fairly quick the usd Bitcoin market is now just a puppy following the big dog of China.

Oh but what about LTC you say?  ahah heres the Kicker my friends

“I was introduced to Bitcoin two years ago by my brother, the founder of Litecoin ,” says Lee.

well sweet damn we got us a genuine family connection! So i dont think LTC to gox is even meaningful anymore. The question becomes when do the brothers collaborate to make LTC become a winner in China? cmon.. you would hook up your brother right.....(im going to go buy some LTC now gg)

New crypto coin resource found

I just came across this blog and its filled with some great info. It has some of the latest information regarding the CureCoin project working with Franko cryptocurrency folding project. It is worth a look and bookmark. enjoy

http://advicecoin.blogspot.co.uk/

GoCoin ready to take Bitcoin to South America and Asia

Recent record Bitcoin prices. The Chinese Bitcoin market exploding with record volume. News stories rampant. Massive amounts of Bitcoin press. Bitcoin ATMs going live.


    It looks like we can add another big PR story for Bitcoin. Gocoin is set to take on BitPay as the merchants processing service of choince. Currently in closed beta testing, GoCoin plans to go live later this month.
     GoCoin raised some $550,000 to kick off its endeavor. GoCoin initially plans to focus on Asia and South American markets, “where the challenges of accepting credit cards and purchasing goods and services online between even neighboring countries can be especially difficult.”
     GoCoin’s board chairman Brock Pierce points out: that as Bitcoin becomes more widely accepted, it will help to simplify cross-border commercial transactions. As shoppers become more global, varying exchange rates become a challenge to manage, and Bitcoin is an easy way to speak a common currency language. Whether or not the virtual currency can gain more traction than what it has now though — especially as its volatility is a cause for concern — is what GoCoin is betting on.


Pierce is confident though. “The future of currency is digital and the old payment systems used today were not designed for the Internet,” he says.

BitMit Closing

Wow,

just went to bitmit and saw this posted. I just hope somebody takes it over to continue the service even improve it.

Bitmit is closing 
Bitmit is shutting down its services in four weeks. Please complete your orders and withdraw your funds! 

2013 November 6th

Read more..

You are allowed to place new orders until November 13th.
If you are interested in buying the site we will publish further information in about 2 weeks. Meanwhile please stay patient, updates are posted here.

There has not been any hack, missing funds etc. but we think that such a site should be run by a more professional business entity.

« The end is the beginning of all things, suppressed and hidden, awaiting to be released through the rhythm of pain and pleasure. Bitcoin evolved from a sore baby to a powerful soldier who is surrounded by a wonderful community of freedom fighters! With your help Bitcoin will be able to defend itself in the fight against all financial systems that are based on debt. But for us it's time to move on. »

We really appreciate your long time support!

THANKS AND BYE BYE!

PS: In the case you want to send us a beer: 1KBbTJ1G1KBJmdqiFbYDRh6KiBwFUWkUis (Thx&Cheers!)

WallStreetJournal Features bitcoin mining story

"Race to Mine Bitcoin Gathers Steam, Rush to Generate Valuable Virtual Currency Fuels Litigation, Regulatory Scrutiny and a Quest for Speed" http://online.wsj.com/news/articles/SB10001424052702303661404579180261683703066


well yah thats great...but really  look at this quote.:
 "But the rising prices have brought an increased push by so-called miners to use the speediest computers to get more bitcoin."

I am 100% sure this guy thinks people are buying desktops or servers to mine with.  I support this by referencing a quote from this guy right after that one he writes:

 The power and speed at which the computers attempt to solve the problems and accumulate more bitcoin is measured in the so-called hashrate. Recently, the measure has soared and is now tracked in "petahash," bitcoin experts say.

ok so he writes petahash but references no difficulty increases, nothing about asic, nothing about cloudhasing..

where the hell do they find these damn writers that apparently cant spend an hour researching on google or finding a person in a chat to attempt  explain it to them before they go puking bs out in some article.  YAY for btc publicity though lol gotta love that. 

300$ here we come

Bitcoin hits a record high

A record high for Bitcoin! Wednesday,11/6/13  $272.42 and climbing!  That is higher than the $266 peak back in April. Remember that we had a sell off back then within a week dropping prices sub $100. Will we get another sell off? If we do, will you be ready to buy? 

Bitcoin prices are surging.

Bitcoin will get insane amounts of PR yet again as the price surges repeating last years pattern. Look for a influx of fresh money into the market. This influx will certainly have a % aiming for high risk new startup coins to invest in. Look for some major growth in a few select altcoins.

Worldwide news is driving awareness we have seen recently the announcement of a Chinese bitcoin exchange, BTC china. Bitcoincharts.com BTC China as the market volume leader. 

As things continue to look worse worldwide for fiat, cryptocoins are exploding at an exponential rate. New markets open and set record volumes week after week (I am looking at you Cryptsy)

The market moves and changes so fast, missing just a few days of development can cost you a fortune. These are exciting times of change, and it is just getting started.

-Blundertoe

Useful new crypto website

I was doing my rounds of info seeking today and came across this page

http://com-http.us/


It lists the sha-256, sha-512 and scrypt. each is sortable into catagories and the also have a "Latest coins" tab. Great stuff very useful quick and easy info.

also this is a really nice bitcoin chart  http://bitcoinwisdom.com/

New asic unit spotted Block eruptor cube

Information thus far is as follows:

30Gh/s Guaranteed
Overclock-able to 38 Gh/s

Ships approximately November 14th, 2013

More information coming soon!

http://www.wtcr.ca/catalog/product/bm-ambec-01


looks pretty cool

Finding a new crypto coin to mine for profit

     Getting in early when mining a cryptocoin has huge advantages as often the rewards are very high compared to the amount of work required. After a coin hits the market and becomes popular, the number  of people mining it goes up reducing the reward amount for each unit of work.
     Here is a short video on how to look for a new coin to mine.