Home
Search results “Robert faiella bitcoin news”
Bitcoin VIP charged with Silk Road money laundering
 
04:42
Bitcoin is the cryptocurrency that has been the darling of the online payment world since its development in 2009. But now federal prosecutors have charged two Bitcoin entrepreneurs with money laundering. They say that BitInstant CEO and Bitcoin Foundation board member Charlie Shrem and middleman Robert Faiella laundered drug-trafficking money through the black-market website Silk Road. Shrem and Faiella sold more than $1 million worth of Bitcoins to Silk Road users, prosecutors said, with Shrem giving Faiella a volume discount on BitInstant's fees. Ameera David talks to RT's Anastasia Churkina about the impact of these charges on Bitcoin's popularity and future use. Find RT America in your area: http://rt.com/where-to-watch/ Or watch us online: http://rt.com/on-air/rt-america-air/ Like us on Facebook http://www.facebook.com/RTAmerica Follow us on Twitter http://twitter.com/RT_America
Views: 3581 RT America
Bitcoin Exchange CEO Arrested For Money Laundering
 
01:04
Bitcoin Exchange CEO Arrested For Money Laundering The founder of a prominent Bitcoin exchange company has been arrested and charged with running an illegal scheme to sell the digital currency to customers trafficking narcotics on the now-defunct drug website Silk Road, prosecutors said Monday. Charlie Shrem, 24, chief executive of BitInstant, was arrested Sunday at John F. Kennedy International Airport in New York on charges of conspiring to commit money laundering and operating an unlicensed money transmitting business, prosecutors said. He is scheduled to appear in court on Monday. Robert Faiella, an underground Bitcoin exchanger, faces the same charges for allegedly obtaining Bitcoins with help from Shrem's company and then selling the digital currency to users of Silk Road, which only accepts Bitcoin as payment. "Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the dark web drug site, Silk Road," Manhattan U.S. Attorney Preet Bharara said Monday. "Truly innovative business models don't need to resort to old-fashioned law-breaking, and when Bitcoins, like any traditional currency, are laundered and used to fuel criminal activity, law enforcement has no choice but to act." Shrem's company recently received $1.5 million in a funding round led by Winklevoss Capital. The venture capital firm is led by twin brothers Tyler and Cameron Winklevoss, who are famous for claiming that Mark Zuckerberg stole their idea for Facebook. "Charlie has been in the space for a very long time, and he has an impeccable reputation among Bitcoiners," Cameron Winklevoss told TechCrunch at the time. "He knows everyone in the space and everyone in the space knows him." In response to the allegations, the Winklevoss duo issued a statement saying they are "obviously deeply concerned" about Shrem's arrest and "fully support any and all governmental efforts to ensure that money laundering requirements are enforced." They added that while BitInstant wasn't part of the arrest, the company's management had committed to "abide by all applicable laws -- including money laundering laws." Bitcoin has generated growing interest from investors and the media in recent months as its value has fluctuated wildly. A single Bitcoin is currently worth about $800. But the digital currency has also been used by many illegal underground websites because it is nearly impossible to trace.
Views: 531 D.A. Beats
EUA: Cambistas de bitcoins detidos por envolvimento em esquema de lavagem de dinheiro
 
01:00
Dois homens que se dedicavam ao câmbio da moeda virtual "Bitcoin" foram detidos e acusados, esta... euronews, a rede de notícias internacionais de maior audiência na Europa. Inscreva-se e receba a sua dose diária de notícias internacionais selecionadas e analisadas para si:http://eurone.ws/10U1VGu A euronews está também disponível em 13 outras línguas: http://eurone.ws/Z37vX4 http://pt.euronews.com/2014/01/28/eua-cambistas-de-bitcoins-detidos-por-envolvimento-em-esquema-de-lavagem-de- Dois homens que se dedicavam ao câmbio da moeda virtual "Bitcoin" foram detidos e acusados, esta segunda-feira, pelo ministério público dos Estados Unidos, de lavagem de dinheiro. Os procuradores públicos acusam Charlie Shrem e Robert Faiella de tentarem trocar cerca de um milhão de dólares pela moeda virtual, no mercado negro, através do portal "Silk Road", encerrado pelas autoridades em setembro de 2013. Segundo a acusação, Shrem, presidente executivo do sítio de câmbio virtual Faiella, é acusado de ter permitido que Faiella utilizasse a plataforma para comprar uma grande quantia de "bitcoins" para depois vendê-las a utilizadores do "Silk Road" que queriam comprar drogas, anonimamente. A detenção dos dois cambistas pode resultar num golpe à crescente comunidade de empresas que aderiram à "bitcoin". Sigam-nos: No YouTube: http://bit.ly/zYBTAR No Facebook: http://www.facebook.com/euronews.fans No Twitter: http://twitter.com/euronewspt
Robert of Electronic Gulden on the Dutch, free money and alt coins
 
29:00
Deze video opnieuw geupload omdat de vorige (26k views) is verwijderd door Youtube met als enige reden dat er een Terms of Services violation was. Paul Buitink talks to Robert, Community Manager of Electronic Gulden, https://e-gulden.com, about everything you need to know about this alt coin, specially made for Dutch people. Learn how it is distributed, why the founders are still anonymous, where to buy/sell/spend it and what the difference are with de Guldencoin.
Views: 1001 reinvent.money
Bitcoin entrepreneurs charged with money laundering
 
02:41
Bitcoin entrepreneurs Charlie Shrem and Robert Faiella charged with money laundering. Both men are accused of conspiring to commit money laundering and operating an unlicensed money transmitting business.
Views: 73 John Maples
Bitcoin exchange CEO arrested on drug money laundering charges
 
05:07
The CEO of one of the world's leading bitcoin exchanges - BitInstant - has been arrested in New York. The prosecution claims Charlie Shrem was involved in a drug money laundering scheme via the Silk Road website. READ MORE: http://on.rt.com/1nczp6 RT LIVE http://rt.com/on-air Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday Like us on Facebook http://www.facebook.com/RTnews Follow us on Twitter http://twitter.com/RT_com Follow us on Instagram http://instagram.com/rt Follow us on Google+ http://plus.google.com/+RT RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 1 billion YouTube views benchmark.
Views: 18959 RT
The top executive of a New York City-based Bitcoin company and a Florida Bitcoin exchanger have plea
 
00:44
The top executive of a New York City-based Bitcoin company and a Florida Bitcoin exchanger have pleaded guilty to enabling money to be funneled to the black market website Silk Road. Charlie Shrem, of Manhattan, and Robert Faiella entered their pleas in federal court in Manhattan on Thursday. The case grew from the government's shutdown of Silk Road. Shrem was chief executive officer of BitInstant, while Faiella operated an unlicensed money transferring business. They were accused of letting more than $1 million in Bitcoins reach the website, where they said narcotics were bought and sold. Authorities have said Silk Road's San Francisco operator generated more than $1 billion in illicit business since 2011 on the website. It used Bitcoin, a tough-to-track digital currency, before being shut down. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/930694d7c5d76a5dce530915529b2206 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 106 AP Archive
Bitcoin exchange operators are charged with money laundering
 
01:00
The virtual currency Bitcoin has come under close scrutiny from US regulaters after the charging of... euronews, the most watched news channel in Europe Subscribe for your daily dose of international news, curated and explained:http://eurone.ws/10ZCK4a Euronews is available in 13 other languages: http://eurone.ws/17moBCU http://www.euronews.com/2014/01/28/bitcoin-exchange-operators-are-charged-with-money-laundering The virtual currency Bitcoin has come under close scrutiny from US regulaters after the charging of two exchange operators with money laundering. Robert Faiella and Charlie Shrem are accused of attempting to sell more than $1m (0.7m euros) in the digital currency to users of an online drug marketplace website. Silk Road was shut down by the authorities last year after its suspected owner was arrested. The site is said to have offered drugs, false documents and other illegal services. It is alleged Shrem funneled money to the site with Faiella's knowledge. Bitcoin was created four years ago in the wake of the global financial crisis and has slowly been approaching the mainstream. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Bitcoin exchange Arrests In The United States
 
02:56
The operators of two exchanges for the virtual currency Bitcoin have been arrested in the US. The Department of Justice said Robert Faiella, known as BTCKing, and Charlie Shrem from BitInstant.com have both been charged with money laundering. The authorities said the pair were engaged in a scheme to sell more than $1m (£603,000) in bitcoins to users of online drug marketplace the Silk Road. The site was shut down last year and its alleged owner was arrested. Mr Shrem, 24, was arrested on Sunday at New York's JFK airport. He was expected to appear in court on Monday, prosecutors said. Mr Faiella, 52, was arrested on Monday at his home in Cape Coral, Florida. Bitcoin exchanges are services that allow users to trade bitcoins for traditional currencies. Mr Shrem is accused of allowing Mr Faiella to use BitInstant to purchase large quantities of bitcoins to sell on to Silk Road users who wanted to anonymously buy drugs. The authorities said Mr Shrem was aware that the bitcoins were being used for such purchases, and therefore he was in violation of the Bank Secrecy Act. The Act requires financial institutions in the US to alert authorities to any suspicious activity that may suggest money laundering is taking place. Emily Spaven, managing editor of news site Coindesk, told the BBC: "Since the closure of Silk Road and arrest of alleged owner Ross Ulbricht, we always knew more arrests would follow. "It is unfortunate Silk Road continues to make the headlines in association with Bitcoin - this is the dark side of Bitcoin, which the vast majority of digital currency users have no association with." 'Feigning ignorance' Following the arrests, James Hunt, from the US Drug Enforcement Agency, said in a statement: "Hiding behind their computers, both defendants are charged with knowingly contributing to and facilitating anonymous drug sales, earning substantial profits along the way "Drug law enforcement's job is to investigate and identify those who abet the illicit drug trade at all levels of production and distribution, including those lining their own pockets by feigning ignorance of any wrong doing and turning a blind eye." Mr Shrem is a founding member and the current vice chairman of the Bitcoin Foundation, a trade group set up to promote Bitcoin as an alternative currency. Last year, Mr Shrem set up a bar in New York that accepted bitcoins. BitInstant is one of the largest Bitcoin exchanges on the internet. At the time of publication, the service was inaccessible. BitInstant's investors include Tyler and Cameron Winklevoss - the twins who previously sued Mark Zuckerberg claiming he had stolen their idea for Facebook.
Views: 118 FlipMedia
Exclusive: Bitcoin promoter to plead guilty to unlicensed money transmission
 
02:18
For more Latest and Breaking News Headlines SUBSCRIBE to https://www.youtube.com/user/SuperNewsPlanet Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. charges that he engaged in a scheme to sell over $1 million of the digital currency to users of illicit online marketplace Silk Road, his lawyer said Friday.Shrem, the former vice chairman of the Bitcoin Foundation, will plead guilty next Thursday in New York federal court to unlicensed money transmission, Marc Agnifilo, his lawyer told Reuters in an email.Prosecutors had previously charged Shrem with operating an unlicensed money transmitting business, money laundering conspiracy and failing to file suspicious activity reports with government banking authorities.Federal authorities shut down Silk Road last year, though a new Internet marketplace under the same name was launched in November. Prosecutors contend Silk Road enabled users to buy and sell illegal drugs and other illicit goods and services.Soon after his arrest in January, Shrem stepped down from his role at the Bitcoin Foundation, a well-known trade group. He was previously CEO of BitInstant, a bitcoin exchange company.A notice of a plea hearing in the case of Shrem and his co-defendant, Robert Faiella, was included in a calendar distributed by court officials earlier Friday.It was not immediately clear if Faiella, a Florida man who faced similar charges as Shrem, will plead guilty or move ahead with trial Sept. 22. He has previously pleaded not guilty.But Faiella, 54, is expected to fly to New York for the hearing, according to a court order filed Friday.A lawyer for Faiella did not respond to requests for comment. A spokesman for Manhattan U.S. Attorney Preet Bharara declined comment.Prosecutors are pursuing a separate case against Ross William Ulbricht, the man accused of creating and operating Silk Road under the name "Dread Pirate Roberts." He is set to face trial Nov. 3.The case is U.S. v. Faiella, U.S. District Court, Southern District of New York, No. 14-cr-00243. TAGS abc breaking news, bbc, bbc football, bbc iplayer, bbc news, bbc news america, bbc persian, bbc sport, bbc weather, bbc world news, breaking celebrity news, breaking election news, breaking late news, breaking local news, breaking music news, breaking news, breaking news alerts, breaking news canada, breaking news headlines, breaking news in atlanta, breaking news in nigeria, breaking news india, breaking news pensacola florida, breaking news plane crash, breaking news story, breaking sports news, business expensive news home media world, christian world news, cnn, cnn breaking news, cnn money, cnn news, cnn news breaking news, cnn news world, detroit breaking news, global news, headline, headline news, health care technology news, hot latest global news, internet technology news, las vegas breaking news, latest breaking news, latest celebrity news, latest information technology news, latest music news, latest news, latest news headlines, latest news update, latest sports news, live breaking news, local breaking news, local news today, msn breaking news, nbc breaking news, nbc world news, news of the world, news report us world, news today news, news updated daily, solar technology news, sports news today, technology news, the latest news, today news, us news and world, us news and world report, us news and world report magazine, us news and world report web site, us news world report, world news, world news daily, world news headlines http://www.makemeitexpert.com http://www.amwaynutrilitedaily.com Application Packaging And SCCM Training http://appinfotechnology.blogspot.in/
Views: 72 Super News Planet
BitInstant CEO Charlie Shrem Arrested!
 
02:02
Charlie Shrem, the CEO of the Bitcoin-based company BitInstant, was arrested at JFK Airport today upon arriving home from the North American Bitcoin Conference in Miami. According to the federal criminal complaint, Shrem is charged with "one count operating an unlicensed money transmitting business, one count of money laundering conspiracy and one count willful failure to file suspicious activity report." According to U.S. Attorney Preet Bharara: "As alleged, Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the dark web drug site, Silk Road. Truly innovative business models don't need to resort to old-fashioned law-breaking, and when Bitcoins, like any traditional currency, are laundered and used to fuel criminal activity, law enforcement has no choice but to act. We will aggressively pursue those who would coopt new forms of currency for illicit purposes." Is this the beginning of a bitcoin man-hunt? Are government agents seeking to use force, surprise arrests, and threats of furter intimidation to stifle growth and innovation in bitcoin? Share your thoughts in the comments section below. I will update this story as it develops. http://peacenewsnow.com/breaking-bitinstant-ceo-charlie-shrem-arrested/
Views: 2159 Derrick J Freeman
Bitcoin exchange CEO arrested on drug money laundering charges
 
02:09
Bitcoin exchange CEO arrested on drug money laundering charges For more Latest and Breaking News Headlines SUBSCRIBE to https://www.youtube.com/user/SuperNewsPlanet Charles Shrem, who ran a New York-based Bitcoin exchange, was arrested Monday and charged with engaging in a money laundering scheme with a user of Silk Road, the notorious deep web black market. In the federal criminal complaint, the Southern District of New York charges Shrem, the 24-year-old CEO of BitInstant, with three counts, including one count operating an unlicensed money transmitting business, one count of money laundering conspiracy and one count willful failure to file suspicious activity report. Robert Faiella, a Silk Road user who operated under the name "BTCKing," was charged with one count of operating an unlicensed money transmitting business and one count money laundering conspiracy. The complaint alleges that Faiella took orders from Silk Road users hoping to purchase Bitcoin, the anonymous peer-to-peer crypto-currency. Shrem then filled the orders by transferring funds into an account controlled by Faiella and hosted on a third-party Japan-based Bitcoin exchange. Together the two allegedly sold over $1 million in Bitcoin to Silk Road users, who then used those Bitcoins to attempt to purchase anonymously drugs and other illegal goods from the deep web black market. According to Manhattan U.S. Attorney Preet Bharara. "As alleged, Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the dark web drug site, Silk Road. Truly innovative business models don't need to resort to old-fashioned law-breaking, and when Bitcoins, like any traditional currency, are laundered and used to fuel criminal activity, law enforcement has no choice but to act. We will aggressively pursue those who would coopt new forms of currency for illicit purposes." TAGS abc breaking news, bbc, bbc football, bbc iplayer, bbc news, bbc news america, bbc persian, bbc sport, bbc weather, bbc world news, breaking celebrity news, breaking election news, breaking late news, breaking local news, breaking music news, breaking news, breaking news alerts, breaking news canada, breaking news headlines, breaking news in atlanta, breaking news in nigeria, breaking news india, breaking news pensacola florida, breaking news plane crash, breaking news story, breaking sports news, business expensive news home media world, christian world news, cnn, cnn breaking news, cnn money, cnn news, cnn news breaking news, cnn news world, detroit breaking news, global news, headline, headline news, health care technology news, hot latest global news, internet technology news, las vegas breaking news, latest breaking news, latest celebrity news, latest information technology news, latest music news, latest news, latest news headlines, latest news update, latest sports news, live breaking news, local breaking news, local news today, msn breaking news, nbc breaking news, nbc world news, news of the world, news report us world, news today news, news updated daily, solar technology news, sports news today, technology news, the latest news, today news, us news and world, us news and world report, us news and world report magazine, us news and world report web site, us news world report, world news, world news daily, world news headlines http://www.makemeitexpert.com http://www.amwaynutrilitedaily.com Application Packaging And SCCM Training http://appinfotechnology.blogspot.in/
Views: 127 Super News Planet
Usa. Due arresti per vendita di Bitcoin finalizzati ad acquisto droga
 
01:00
La giustizia statunitense emette le prime accuse formali contro individui legati all'universo... Euronews, il canale all news più seguito in Europa. Abbonati a euronews e ricevi ogni giorno una selezione delle nostre notizie:http://eurone.ws/17uYNV4 euronews è disponibile in 13 altre lingue :http://eurone.ws/XyJjNW http://it.euronews.com/2014/01/28/usa-due-arresti-per-vendita-di-bitcoin-finalizzati-ad-acquisto-droga La giustizia statunitense emette le prime accuse formali contro individui legati all'universo Bitcoin, la moneta elettronica priva di ente centrale. Charlie Shrem, 24 anni, e Robert Faiella, 52, sono accusati di aver venduto Bitcoin destinati all'acquisto on line di stupefacenti attraverso il sito internet Silk Road, considerato l'ebay della droga. Ammontare della transazione: 1 millione di dollari, secondo la procura di New York che ha formalizzato le accuse. Un espediente grazie al quale gli acquirenti potevano comprare stupefacenti senza incappare nelle maglie della giustizia. I due rischiano pene detentive fino a 20 anni. Le accuse arrivano a 3 mesi dalla chiusura del sito internet Silk Road e dall'arresto del suo creatore. Si seguono: Su Youtube http://bit.ly/wV2enX Su Facebook : http://www.facebook.com/euronews.fans Twitter: http://twitter.com/euronewsit
BITNEWS: With Charges Reduced, Charlie Shrem Hopes To Walk Free After Pleading Guilty In Plea Deal
 
02:57
The end of a few very long months is finally coming to a close for a happy Charlie Shrem. Bitcoin entrepreneur Charlie Shrem was the former Vice Chairman of the Bitcoin Foundation and the former CEO of a New York Bitcoin exchange named BitInstant that he founded that bought and sold Bitcoins. BItInstant was one of the first bitcoin operators to register with the Treasury Department and attracted high profile investment from the Winklevoss twins known for battling Mark Zuckerberg over ownership of Facebook. Shrem had stepped away from both the Bitcoin Foundation and BitInstant shortly after his arrest in January. Mr. Shrem and his alleged accomplice Robert Faiella was arrested in January along with Mr. Faiella in what the Manhattan U.S. attorney's office said was a conspiracy to help Silk Road customers anonymously purchase illegal items, including narcotics and forged passports, online. They were charged in an indictment with conspiracy to commit money laundering and operating an unlicensed money-transmitting business. He has since moved to enter a plea deal in a federal court in Manhattan next week to resolve the charges against him that he had engaged in a scheme to sell over $1 million USD of Bitcoin to users of Silk Road, the now infamous illicit online marketplace since shutdown. According to his lawyer Marc Agnifilo, Charlie Shrem will plead guilty next Thursday in the NY federal court to one criminal count of aiding and abetting an unlicensed money transmission linked to an alleged drug scheme involving his virtual currency exchange and an online black market according to court documents. Previously, Charlie Shrem and Robert Faiella, had previously pleaded not guilty to running an alleged money laundering scheme that funneled the digital currency to users of the online black market site Silk Road. Mr. Shrem has remained active in bitcoin ventures since his arrest, speaking at industry events and working as a consultant. He was initially under house arrest at his parents' home in Brooklyn, but the terms were eased in May to allow him to go out between 9 a.m. and 9 p.m. on Sundays through Thursdays, according to a court document and he even attended Follow The Coin’s Hangout in New York a month ago. Thanks for taking the time to stop by Charlie! Under his plea, Mr. Shrem said he could face time in prison. The final sentence will be determined by a judge. Charlie Shrem who has made a statement saying “"My life is not ending here. I'm overall happy and satisfied” is asking members of the bitcoin community to write letters to the judge on his behalf ahead of the sentencing that is expected in the next few months. Here’s to hoping you’ll be on the receiving end of a fair sentence Charlie. www.followthecoin.com Like us on Facebook http://facebook.com/followthecoin Follow us on Twitter http://twitter.com/followthecoin Check out more news at http://followthecoin.com/news
Views: 4792 Follow The Coin
Bitcoin men face money laundering charges
 
01:37
US prosecutors have announced charges against two men operating Bitcoin exchange businesses for trying to sell $1m in the digital currency to users of the underground website Silk Road, shut down by authorities in September. The US Attorney's office in New York said in a statement that authorities arrested Charlie Shrem, chief executive officer of the exchange BitInstant.com, on Sunday and Robert Faiella, who ran an underground Bitcoin exchange called BTCKing, on Monday.
Views: 857 Al Jazeera English
INVEST IN BITCOIN / LITECOIN - Global Currency Reset is Coming
 
01:48
SUBSCRIBE for Latest on BITCOIN / LITECOIN / CRYPTOCURRENCY http://www.youtube.com/BitcoinTrendsResearch INVEST IN BITCOIN / LITECOIN - Global Currency Reset is Coming Alex and Max Keiser continue on the topic of rigged global markets and fiat currency vs bitcoin Patrick Byrne enabled bitcoin purchases on Overstock.com earlier than planned as he wanted first mover advantage. It turned out to increase sales far more than he had expected. Silver might take 10 months to peak and 2 months or less to retrace much of its price increase. It might be a $100 billion market in the US. The market will be completely overrun and choked with silver, yielding an inventory that might not bleed off for years. The price rise will be fast; the drop will be fast was well. That's the way this always happens when smart money gets in first and dumb money comes in last. Getting out at that inflection point will be a doozy; the ride heady. Nearly everyone will be sucked in with dreams of becoming silver millionaires. Those who bought at $30-40 will be vindicated. We discuss whether or not 2014 will be one of economic and financial fallout from the 2013 Year of Bitcoin and Snowden. They look at Paul Krugman's claim that Bitcoin is evil because it's not backed by men with guns and the latest in the financial fallout from Snowden's NSA revelations in terms of contractual demands that data never enter the US. In the second half, Max interviews Barb Jacobson of basicincome2013.eu about the European Citizens Initiative for Unconditional Basic Income. Max compares it to the basic income provided to bankers through policies like quantitative easing. The Department of Justice said Robert Faiella -- known as "BTCKing" -- and Charlie Shrem from BitInstant have both been charged with money laundering. The authorities said the pair were engaged in a scheme to sell more than $1m (£603,000) in bitcoins to users of online drug marketplace the Silk Road. With over 1,000 new merchants adopting Bitcoin every week, it is perhaps not surprising that, as NY Post reports, the first Bitcoin ATM is about to debut in New York City. Following success inCanada and Europe, Brooklyn native Willard Ling, 30, is set to introduce the first bitcoin ATM to New York City at the East Village bubble tea shop 'Just Sweet'. State regulators with the Department of Financial Services are expected to hold hearings later this month to discuss how the digital currency should be regulated; and until then, Ling's bitcoin ATM will sit in his apartment. Users first download a bitcoin wallet mobile app — such as BlockChain or Mycelium — and set a password. A black-and-white QR code appears. They press the phone against the ATM's glass window so it can scan the code, then feed in cash. bitcoin litecoin "accept bitcoin" "bitcoin mining" "litecoin mining" cryptocurrency debt salary "interest rate" finite global currency markets future wages job income employment data "gold price" "sell gold" "gold coin" "silver eagle" "silver bullion" "gold bullion" "gold trading" "forex exchange" "forex trading" exchange uk u.s. "united states" usa america "united kingdom" london loan "pay day loan" "bank account" investment savings 2014 news media entertainment "bitcoin trends" max keiser alex jones infowars gerald celente lindsey williams farrakhan speech bilderberg bohemian grove jp morgan hsbc china japan collapse crisis wake up prepare survival jsnip4 how to mine litecoin rig coast to coast am jim rogers soros Once upon a time, money -- in the form of precious metals -- used to be literally dug out of the earth. Limitations on the amount that could be mined, and on how much growth could be borrowed from the future (all debt is, is future consumption denied), is why eventually the world's central bankers moved from money backed by precious metals, to "money" backed by "faith and credit", in the process diluting both. It was the unprecedented explosion in credit money creation that resulted once money could be "printed" out of thin air that nearly destroyed the western financial system. Which brings us to Bitcoin, where currency "mining" takes place not in the earth's crust, or in the basement of the Federal Reserve, but inside supercomputers. Instead of swinging pickaxes, these custom-built machines, which are running an open-source Bitcoin program, perform complex algorithms 24 hours a day. If they come up with the right answers before competitors around the world do, they win a block of 25 new Bitcoins from the virtual currency's decentralized network. Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today's money worth less tomorrow. "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.
Views: 1469 Bitcoin Trends
News Update 8/22/14
 
06:57
http://moneyandtech.com/August-22-news-update/ At the same time as submitting their joint comments on the New York BitLicense regulations, China's three major Bitcoin exchanges BTC China, Huobi and OKCoin have also announced the release of their recent audit results with proof of 100% percent reserves. OKCoin kicked it off by sharing its details today, showing a whopping 104.86% percent of the bitcoin reserves required to cover their customer balances. All three exchanges are also in the process of implementing a new cryptographic ‘merkle tree’ verification system similar to those of Bitfinex and Kraken, which will allow users to see for themselves that their account balance was included in the audit data. The cloud storage startup platform Storj has raised 910 bitcoins (or about $461,802 dollars) in their recent crowdsale that ran from July 18th to August 18th. The funds will be put towards several company departments, including marketing, advertising, community funding and legal counsel. Participants in the crowdsale will be awarded with early access to Storj's DriveShare and MetaDisk apps, which allows users to rent out their unused hard disk space and store their files on the collective distributed Storj network. Manhattan's first Bitcoin ATM went live on Christopher Street on Thursday evening. The ATM is constructed by Lamassu and installed at vintage store Flat 128, which already accepts Bitcoin as a method of payment. Currently, customers with bitcoin wallets will only be allowed to deposit cash to purchase the currency. Though in the future, Lamassu says that it may permit the usage of bitcoins to actually withdraw cash. And in Australia, a new bitcoin ATM recently launched in the country's capital city Canberra at the Rugby Union Club on McCaughey St. Turner. The machine, manufactured by California-based Genesis Coin and operated by Bit2Bit, also offers customers the opportunity to purchase and sell Litecoin and Dogecoin. New charges have been filed in the case against Ross Ulbricht, the suspected creator of online anonymous marketplace Silk Road. The new charges filed Thursday night include charges of narcotics trafficking, distribution of narcotics by means of the internet, and conspiracy to traffic in fraudulent identification documents. This announcement follows recent news that Ulbricht had lost his bid to have his case dismissed back in July. In similar news, the request to drop one of two counts against the Silk Road's Robert Faiella were rejected by U.S. District Judge Jed Rakoff on Tuesday, who dismissed the claim that charges for operating an unlicensed money transmitting business should be dismissed given that bitcoins are not legally defined as money. Instead, Rakoff stated that Bitcoin "clearly qualifies as 'money' or 'funds'" since "Bitcoin can be easily purchased in exchange for ordinary currency, acts as a denominator of value, and is used to conduct financial transactions." Both Faiella and fellow Silk Road operator Charlie Shrem are scheduled to be tried on September 22nd. We're coming up on Labor Day weekend, which can only mean one thing - thousands of enthusiasts are packing up and heading to Black Rock City for this year's Burning Man festival, and the cryptocurrency community will be right there with it. Officially registered as Camp Bitcoin, the brainchild Burning Man camp of Hive's Wendell Davis and Satoshi Square founder Josh Rossi hit a few roadblocks when most of its organizers ended up not being able to attend. Well all was not lost, as they would say, because in stepped Doge to save the day. Vancouver Dogecoin enthusiasts Gary Lachance, Cameron Gray, Dan Gunn, and Kyle MacDonald have taken over, and so "From forth the fatal loins of the (now defunct) Camp Bitcoin rises the exponentially-more-good-timey-and-infinitely-more-subversive Camp Dogecoin!" As their website declares, "this camp will be a free-forming collision of Fervent Futurists who Take Extreme Delight in All Things Decentralized and/or Have The Hots for Unconventional Hilarity. A meeting of the minds AND the funny bones." http://moneyandtech.com/August-22-news-update/
Views: 181 Money & Tech
News Update 9/2/14
 
07:49
http://moneyandtech.com/September-2-news-update/ The bitcoin world is deeply saddened to hear of the passing of cryptocurrency pioneer Hal Finney, who passed away on August 29th at the age of 58 after being diagnosed with ALS in 2009. Finney was the recipient of the world's first bitcoin transaction and was a key figure in the field of cryptography, having worked as the 2nd developer on the PGP system, a data encryption program that provides authentication for data communication. Finney also developed computing's first reusable proof-of-work system called RPOW, intent on implementing it in a digital currency system. Finney also mined many bitcoins during the initial start of cryptocurrency, but was forced to cash many of them to pay for his medical bills in 2013 after their value topped $100 each. In his final post on Bitcoin Talk, he states "I'm pretty lucky overall. Even with the ALS my life is very satisfying... I'm comfortable with my legacy." He will be deeply missed by his digital currency peers. Bitcoin evangelist Charlie Shrem has decided to plead guilty to one count of aiding and abetting an unlicensed money transmission, over his association with the now defunct anonymous online black market site Silk Road. Shrem and his associate Robert Faiella had previously plead not guilty, after being arrested back in January. With his plea Shrem could potentially face up to 30 years in jail, but the final decision on that will be made by a judge. Ecuador's new government-backed digital currency will be ready for circulation in December following its approval in a session of the country's National Assembly in July. The currency, which has yet to be named, is believed to be a move towards replacing the US dollar as the country's official legal tender. The country, which has had virtually no control over money emission when it took on the US dollar in 2000, is aiming to prove its best intentions and improve its financial standing, which currently centers around $11 billion in debt. The Chamber of Digital Commerce, an authoritative representative for the digital commerce industry in Washington DC, have announced plans to form a political action committee (PAC) to support and help fund pro-bitcoin politicians. The Digital Chamber first filed to form the PAC with the Federal Election Commission last month. Multinational bitcoin exchange Igot is launching the first bitcoin exchange in the United Arab Emirates to capitalize on the unique opportunity presented by the market. The new venture will operate with a Commercial brokerage license, and has secured local banking partners for direct deposits and withdrawals in UAE dirhams. The exchange is being aimed more at consumers than professional traders, and features a simple buy-sell interface. About 60% of the UAE's workforce consists of expat Indian workers who send their money back home. CRXzone, a digital currency exchange platform in Singapore, is the first to offer both bitcoin and litecoin trading in the country. CEO Pawan Kumar states, "I personally feel... bitcoin will take over all other digital currencies and remain a useful tool for digital payments which are growing day by day," and despite its recent price slump, Kumar spoke positively of litecoin, saying "We still believe that litecoin will survive the current downward trend. It is well known and widely used crypto after the bitcoin." CRXzone's different payment options mean there are different fees, but the exchanges themselves are free. Simon Fraser University is the first Canadian university to accept bitcoin, announcing it will now accept donations in digital currency. Mike Yeung, president of the Simon Fraser Bitcoin Club states that, "SFU is looking to be really innovative and really edgy, and bitcoin is one of those things that is perfect for that." SFU students will use the donations for a co-op project to be completed during the upcoming fall term. The students will visit Kolkata, India, where they will work with Destiny Reflection, a non-profit organization that seeks to provide support for victims of human trafficking. Today sees the launch of CoinAcademy.co, a comprehensive online education site about bitcoin and other digital currencies. The website offers users original content and various digital currency resources from all over the internet. CoinAcademy's primary focus is Bitcoins, offering a Bitcoin for Beginners course, and a Bitcoin for Merchants course, but also covers popular altcoins Litecoin, Dogecoin, Ripple, NXT and Peercoin, with plans to add more in the future. http://moneyandtech.com/September-2-news-update/
Views: 113 Money & Tech
News Update 9/5/14
 
06:47
http://moneyandtech.com/September-5-news-update/ Bitcoin wallet and storage provider Xapo recently announced their plans to exclude the entire state of New York from their service area, in the event the New York Department of Financial Services' BitLicense proposal is signed into state law. In a post on the company's blog, CEO Wences Casares says, "New York’s proposed BitLicense in its current form is the wrong form of regulation and in fact poses a threat to New York and New York consumers... we believe that at this early stage in bitcoin’s history, investing the time needed to arrive at the right regulation is time well spent." Casares outlines what he feels the right kind of regulation for bitcoin would be, but refers to the BitLicense proposal as "over-regulation" stating "Over-regulation... hinders progress and serves an anticompetitive function where only the well-capitalized survive," adding that, "The provision of services simply will not be up to the standards that we aim to provide, and New York consumers will suffer the consequences." Casares concludes his post by saying that Xapo will be submitting comment on the BitLicense proposal and will share them on their blog when done, and he encourages the rest of the community to submit comment as well. Our report Thursday stated that Charlie Shrem had reached a plea bargain with authorities over his association with the now defunct online black market Silk Road, which resulted in his pleading guilty to a lower charge. Today, more information has come to light about the details of the aforementioned plea bargain struck by Shrem and his associate Robert Faiella. Both men pleaded guilty to separate offenses - Shrem to aiding and abetting an unlicensed money transmitting business, and Faiella to operating such a business. Both men face up to five years in jail, and are due back in court in January. It has also been revealed that both men have agreed to forfeit $950,000 to the government. Sweden-based bitcoin services company Safello is allowing users to request invitations to its newly launched bitcoin wallet service. The announcement was made during a panel session at the Stockholm Tech Fest, a Sweden-based conference featuring the biggest names in the payment world. Safello CEO Frank Schuil says, "We anticipate to let users in during this month or next month." Users can easily search for friends using the wallet, and all transactions can be viewed in a timeline similar to the style of Facebook and Twitter that social media enthusiasts have grown accustomed to. If verified accounts are used, bitcoin addresses will be replaced with user names, photos and comments. Safello is also aiming to remove any of the common technological issues many have experienced with bitcoin wallets, branding their product as "so easy that even your mom could use it." Whole Foods Market announced on Tuesday that shoppers and digital currency enthusiasts can now purchase gift cards to the store via eGifter, an online gift card purchasing vendor that allows customers to purchase gift cards in a number of ways, bitcoin being one of them. Business facilitator and mobile services company Alternet Systems Inc. announced a new strategic partnership with BitPay, one of the world's leaders in solutions for digital currencies. Together, the two companies will launch a new global payment processing business. Alternet CEO Henryk Dabrowski explains, "Our strategic agreement with BitPay will allow us to initiate our sales process with several potential clients in Latin America and the Asia-Pacific region. We believe that our backlog of opportunities will continue to grow globally and we will generate our first revenues from this business in the fourth quarter of 2014." The agreement allows Alternet to both sell and support BitPay platforms to its own customer base, and both companies are hoping that disruptive payment technologies will be key to both of them. This weekend, Pier 48 in San Francisco will play host to the TechCrunch Disrupt Hackathon 2014, recently made famous when it was recreated on HBO's new comedy Silicon Valley, and leading Bitcoin payments provider BitPay has announced that they will be in attendance with their engineering team and offering support to any teams using Bitcore, BitAuth, or BitPay's merchant API. Bitpay will also be offering a 3 bitcoin reward for the team with the best use of the Bitcoin protocol. Tickets for the 24-Hour Hackathon were free, but are currently sold out. Hopefully you got yours in advance. The Inside Bitcoins Conference and Expo will be back in Las Vegas next month, taking place October 5th through the 7th at the Flamingo Hotel and Casino. http://moneyandtech.com/September-5-news-update/
Views: 250 Money & Tech