Mine An Asteroid and Its Yours – You Just Have to Get There First

We have known for a long while that the resources we have on Earth and under it, are limited. With an expanding population and growing lifespan, it’s becoming more and more necessary to find alternative sources of resources. With a billionaire seeking to mine the moon, we could soon be seeing people launching into space, not for exploration, but to go mining. Its okay, if you can mine it, you can own it according to legislation passed by the US congress.

The US Commercial Space Launch Competitiveness Act was signed into effect on Tuesday offering a range of pro-business measures for US Citizens that include being able to own resources in outer space. The act also looks to make it easier for commercial groups to get permission to launch craft into space, meaning that going and mining the moon and passing asteroids could become one step closer very soon.

With protection for companies offering space tourism and extending the International Space Stations lifetime to 2024, the act will have long standing effects on anyone and every company that looks to expand their borders to outer space.

There is one problem with any legislation that affects outer space, and if anime and science fiction has told me anything, it’s that no one on Earth can truly own something in space. What if someone in the UK lands on an asteroid and mines it, are they protected under US law? What about the countries that don’t agree to the law and legislations that people believe their actions to be protected by? Not only could you soon see buildings made from asteroids, but the courts could see large legal battles between entire countries for the rights to space rocks.

Bitcoin Value Nosedives, Forcing Mining Decline

On a steady decline for over six months, the value of Bitcoin has plummeted to $190.13, marking a 50% drop in the past month, and 25% in just the last few days.

While Bitcoin is used to boom-and-bust fluctuations – the cryptocurrency reached the heady highs of $1,150 during the last quarter of 2013 – this latest decline has economists worried, to the point that Bitcoin miners have thrown in the towel, with some of the world’s largest operations forced to sell its mining hardware, currency reserves, or both, just to cover overheads and loans.

Despite the downturn, though, Bitcoin is as popular as ever, and that’s part of the problem: the more Bitcoins flood the market, the more their price will drop. Once the coins in circulation hit critical mass, they need to be spent for the currency to recover value. This valley could be seen as part of the natural evolution of Bitcoin from niche digital currency to legitimate tender.

Source: Techspot

Butterfly Labs Mining Rigs “Useful Only As Room Heaters”

Butteryfly Labs Monarch

Butterfly Labs, a Missouri based system builder who design and sell computers for mining Bitcoin, have landed themselves in trouble with the Federal Trade Commission (FTC). Butterfly Labs have been charging firms a total of up to $50m (around £30m) for systems and services that were so late they were useless and in some cases, they didn’t deliver the goods at all!

The FTC is saying that Butterfly have been selling Bitcoin mining machines, some of which cost up to $29,899 that are a complete waste of money. The FTC say these systems are only good as “room heaters”; ouch!

Butterfly claim their Monarch system, which only launched last August, is the fastest Bitcoin miner so far and with a price that went well into the thousands, people have been putting money down for the new systems and so far, not one customer has been supplied with one of the new systems.

Jessica Rich, director of the FTC’s bureau of consumer protection, said: “We often see that when a new and little-understood opportunity like Bitcoin presents itself, scammers will find ways to capitalise on the public’s excitement and interest.”

“It appears the FTC has decided to go to war on Bitcoin overall and is starting with Butterfly Labs.” said a Butterfly representative. “Butterfly Labs is being portrayed by the FTC as a bogus and fake company. To the contrary, Butterfly Labs is very real. As pointed out in court filings Butterfly Labs made last night, Butterfly Labs has shipped more than $33m (£20m) in products to customers and voluntarily granted refunds approximating $17m (£10m) to customers for cancelled orders.” they added.

Butterfly Labs will have a chance to state their case in court this Monday and while the company make a lot of big claims, I’m not so certain they’re going to have much luck. Their systems have been deemed worthless by FTC investigators, the mining boom is over and there are a lot of angry consumers who have given them money, but failed to receive any goods; long story short, don’t order a Butterfly Labs system any time soon, just to be safe.

Thank you Sky News for providing us with this information.

Image courtesy of Butterfly Labs.

Biostar Hi-Fi B85S2G LGA1150 Motherboard Revealed

Biostar are back with their latest motherboard based around the Intel B85 single-chip architecture. The new Hi-Fi B85S2G motherboard supports Intel’s latest 4th generation Core i7 and Core i5 processors (LGA 1150).

The new board is aimed at the professional market, ideally for businesses and small firms who need business rich features and a very competitive price to keep their budgets in line. Although the new board is still consumer friendly, and may even prove popular with those who still mine virtual currency thanks to its plentiful selection of PCI-E slots.

All the popular features are here too, including dual gigabit LAN, including load balancing to allow much better networking capabilities. 100% solid capacitors, Intel RST, and most importantly Intel Small Business Advantage for added security.

The Hi-Fi B85S2G comes with support for Direct3D 11.1, HDMI, Blu-ray audio DRM and provides the higher audio output of 24 bit/ 192KHz rather than the 16 bit/ 48KHz from typical motherboards. They’re also Windows 8 ready and have BIOSTAR’s BIO-Remote2 and BIOS Online Update feature for easy management of the system BIOS as well as BIOSTAR’s Charger Booster function.

More details and prices will likely follow soon, but given their target market we expect them to be very competitive.

Thank you TechPowerUp for providing us with this information.

Image courtesy of TechPowerUp.

Overclockers UK Now Accepting Bitcoins

Whilst cyptocurrencies are not as widely spoken about today as they were only a few months back, the biggest currency of them all, Bitcoin, is still making its mark on the modern world, with more businesses recognising its value and how they can in turn make a profit by offering to accept Bitcoins in exchange for products or services.

The latest name in the tech industry to jump on the Bitcoin bandwagon is Overclockers UK, with full support now rolled out across their site for users to buy the latest and greatest hardware (as well as anything else that they chose) and pay with Bitcoins instead of money out of the bank.

The shopping  experience with OcUK has not changed one bit and users will not need to access any special hidden areas of the site in order to use Bitcoins, instead all they need to do is chuck everything in their basket as normal and at the checkout select Bitcoin as the desired payment method. A cryptokey for the payment provider BitPay is then provided and after users have sent the equivalent value of Bitcoins to BitPay, OcUK then receive proper money in exchange so that they can ship your goddie (and Haribo) out to you as normal.

[youtube width=”800″ height=”450″]https://www.youtube.com/watch?v=hdcDjNv6fGs[/youtube]

There are one or two terms that need to be taken into account however. If paying by Bitcoin and you need to send an item back for refund, you will get your funds back in Bitcoins, but at the exchange rate that was present at the point of refund – any variances in exchange rates are not covered by OcUK and there is no option to have any reimbursement make in GBP to a bank account as the refund process is taken care of by BitPay.

If you need any more information on the Bitcoin payment system at Overclockers, or you’ve not got a clue why Bitcoin is, head over to OcUK’s information page, where all the information that you need is ready and waiting.

Source: Press Release

Bitcoin Going To Outer Space

Bitcoin is preparing to launch satellites into space as a means of ‘Global’ backup to the blockchain. Bitcoin’s blockchain is to be sent into space in order to reduce coin volatility and ensure safety from major cyber attacks. The blockchain is a constantly changing documents that records all transactions as well as who owns all coins. Bitcoin is dependent on access to the blockchain to verify all transactions and now Jeff Garzik, one of the main contributors to the Bitcoin source code, has announced that he intends to launch a number of satellites into space to host copies of the blockchain and continuously send it back to earth. Garzik, who currently runs Dunvegan Space Systems, intends to launch a fleet of satellites that host fresh blockchain copies and continuously send it back to earth.

This development will allow anyone to obtain “free Bitcoin bandwidth” anywhere in the World, regardless of the performance of their current internet connection or provider. Garzik went on to say that this would protect the blockchain from cyber attacks that set out to manipulate the blockchain. This will be a fantastic development for Bitcoin; although already a groundbreaking development in finance, the currency has suffered from both bad publicity and volatility as a result of concerns about blockchain malleability and the possibility of fraud. Having the code would seek to manipulate the blockchain file. Secure upload centres would need to be put in place across the globe, that would continuously update the blockchain, and these centres would then beam the code into space, the satellites would then receive the code and in turn, beam it to every bitcoin user on Earth. Garzik believes that he could launch some ‘Cubesats’ into space and that this would be the most affordable way to achieve the plan.

The ‘Cubesats” are micro-satellites with dimensions of approximately 10cm cubed. For $2 Million he can put one into space and for $5 Million he can put eight into space, providing almost continuous coverage to all of the World. He has announced that he intends to begin fund-raising at the end of the summer, and if this is successful, as he expects it to be, he will be in a position to launch the satellites by August of next year (2015). There are, however, potential flaws in this brilliant idea. For one thing, the satellites would have to ensure that the ‘Bitcoin-Bandwidth” did not conflict with other satellites already in space. Further, the satellites have a useful life of no more than two to three years, and this will in turn mean there will be a need for future fundraising for future launches.

 

Thank you to The Telegraph and Virtual Mining for providing us with this information.

Congressman Trolls Senator Who Wants To Ban BitCoin

A senator from West Virginia spoke out last month when he called upon American financial regulators in a bid to ban the digital currency known as Bitcoin. His argument focused on the unregulated nature of the digital currency and how it can be used to make anonymous purchases, making it a popular choice for some criminals. Unfortunate for him then that you can’t really shut down a unregulated currency.

Rep. Jared Polis of Colorado decided to play his hand in this debate with a fantastic mockery of the current US financial system, turning all the “issues” many regulators have with Bitcoin around and showing that its really no different from the Dollar. Check out the letter he send to the same authorities as the Senator below.

The exchange of dollar bills, including high denomination bills, is currently unregulated and has allowed users to participate in illicit activity, while also being highly subject to forgery, theft, and loss. For the reasons outlined below, I urge regulators to take immediate and appropriate action to limit the use of dollar bills.

By way of background, a physical dollar bill is a printed version of a dollar note issued by the Federal Reserve and backed by the ephemeral “full faith and credit” of the United States. Dollar bills have gained notoriety in relation to illegal transactions; suitcases full of dollars used for illegal transactions were recently featured in popular movies such as American Hustle andDallas Buyers Club, as well as the gangster classic, Scarface, among others. Dollar bills are present in nearly all major drug busts in the United States and many abroad. According to the US Department of Justice study, “Crime in the United States,” more than $1 billion in cash was stolen in 2012, of which less than 3% was recovered. The United States’ Dollar was present by the truck load in Saddam Hussein’s compound, by the carload when Noriega was arrested for drug trafficking, and by the suitcase full in the Watergate case.

Unlike digital currencies, which are carbon neutral allowing us to breathe cleaner air, each dollar bill is manufactured from virgin materials like cotton and linen, which go through extensive treatment and processing. Last year, the Federal Reserve had to destroy $3 billion worth of $100 bills after a “printing error.” Certainly this cannot be the greenest currency.

The clear use of dollar bills for transacting in illegal goods, anonymous transactions, tax fraud, and services or speculative gambling make me wary of their use. Before the United States gets too far behind the curve on this important topic, I urge the regulators to work together, act quickly, and prohibit this dangerous currency from harming hard-working Americans.

Obviously they’re not about to ban the Dollar, but Congressman Polis does raise some interesting points in how people should be looking at Bitcoin, as for all its criminal sidelines, it’s used every day by a lot of people as a legitimate form of currency. What are your thoughts on this one? Obviously Bitcoin a very controversial subject and have been for some time, but we would still like to know what the eTeknix community think about them.

Thank you Arstechnica for providing us with this information.

Powerful 80Plus Platinum Rated 1250w PSU Released By Deepcool

Deep cool have already hit the market with a great range of power supplies that range from 400w for the lower end of the market, to 750w products that are ideal for multi-graphics card systems, but their fun doesn’t stop there! After a successful start in the power supply market, they’ve decided to up the power and offer something epic for the extreme performance end of the market, enthusiast gamers, overclockers and coin miners with the launch of the Deepcool Quanta DQ1250.

Offering up 1250W of continuous power, the DQ1250 is built with energy efficiency at its core performance, offering up a stunning 80Plus Platinum certification, the worlds strictest energy efficiency classification for powers supplies. This level of efficiency, as well as its might power output of 1250W is achieved through the use of top quality Japanese capacitors. The power supply features two 12V rails delivering 45A and 65A each output at peak consumption. As for regulatory, DQ1250 has CE, FCC, CCC, CB, EAC and TUV. And as for protection, this power supply has over voltage protection (OVP), short circuit protection (SCP) and over power protection (OPP).

A hybrid fan design uses a separate circuit design to keep the fan at zero rpm for silent performance when the peak PSU is under 30% load, or the ambient temperature is below 25 degrees, while fan delay technology will allow the Quanta’s 140mm fan to keep spinning for 15~30 seconds after being your system has been powered off, ensuring all parts cool down completely to help improve the lifespan of the components.

With flat ribbon cable design, it is quite easy to put the wires on the back of motherboard tray to get a great airflow in the case. This power supply is semi-modular design with only the mainboard and two ATX 12V CPU cable (700mm) fixed onto the power supply. All other cables are modular and packed in the box. There are 8 PCI-E (6+2Pin) connectors, 16 SATA connectors, 10 Peripheral (Big 4Pin) connectors and 3 pieces of extensional connectors: 2 for PCI-E and 1 for small 4Pin.

Deepcool have been on a bit of a roll recently, with one great product after another and we’re hoping the same is true of the Quanta DQ1250, and with high efficiency, high quality construction and components, and mighty performance this does look set to be a great option for extreme-systems and coin mining rigs. We don’t have pricing information just yet, but given the specifications we would expect it to be in excess of £200.

Thank you Deepcool for providing us with this information.

Image courtesy of Deepcool.

Its About To Get Flappy-Tastic In The World Of Digital Currencies!

Personally I’m amazed we got as many days as we did before this was announced, but alas it is here, Flappy Bird is going crypto. A group of London-based IT pros are preparing to launch yet another cryptocurrency into the world with the release of Flappy Coin and mining of the coins is scheduled to begin over the next few days.

According to the founders, writing on BitCoinTalk.org, “The aim of the Flappy Coin is to make a fresh difference in the current market. We want to create a stable, reliable coin that can be trusted. We want to promote what we call ‘Flappy Bird’ ethos — the concept that even a single person can make a massive impact to the world.”

And while one Flappy Bird based currency is enough from some, it’s apparently not enough for others and there have been a few fake Flappy Coins cropping up prior to the actual release, so be warned that the current sites are scams and flappycoin.org is said to be not associated with it and the coin creators say they’ll soon claim back the domain.

There is an alarming trend of memes quickly becoming a type of coin. I wonder how long this trend will continue, but then again I also wonder just how long many of these new coins will remain relevant, let alone how fast new types are being created.

Thank you Wired for providing us with this information.

Image courtesy of Wired.

NASA Starts Taking Contracts for Moon Mining Robot Operation

While the concept of mining the Moon is still in its early stages, NASA have begun to accept applications from private companies who are seeking to do just that. Out of the applicants, NASA will select one company to create a prospecting robot which can be send to the moon to begin mining the Lunar surface.

There are lots of valuable things said to be on the Moon, especially helium 3 which is in abundance, but it is also said to be packed full of rare Earth metals, or should that be Moon metals?

The new proposal does raise some major concerns over lunar property rights, which are supposed to be non-existent as the 1967 Outer Space Treaty of the United Nations says no country can lay claim to the Moon, so does anyone have the right to mine there under that treaty?

The project will not get any funding from the government, but it is another step towards NASA finding its own profitable routes and projects that could one day help it break ties with the government and privatize its self.

Thank you Geeky Gadgets for providing us with this information.

Image courtesy of Geeky Gadgets.

Auroracoin Virtual Cash To Be Given To Icelanders

On March 24th, every Icelandic citizen is going to get the chance to claim a share of virtual coins. The idea is to distribute millions of the digital Auroracoins to all of Iceland’s 330,000 citizens and the project is the brainchild of entrepreneur Baldur Odinsson.

Odinsson’s company is already pre-minding the millions of coins needed by generating the unique identifiers that each of the coins need. Since the coins are built around the same ideals as BitCoin they have to be mined, but because these coins are being minted pre-launch the company is able to have them ready much sooner.

The idea is that by distributing the virtual cash, everyone will help to restore some of the value to the Icelandic Krona. Since everyone in Iceland now has a unique ID number, the project is able to ensure that they can distribute the coins evenly to each citizen and details of how they can claim their coins will be revealed very soon and that people will have up to one year to claim their share.

It’s an interesting concept and it will be interesting to see if it can bring real world benefits to the people of Iceland, but it’s just another interesting chapter in the strange world of crypto-currencies.

Thank you BBC for providing us with this information.

Dogecoin Expected To Bring ‘Real Money’ To Owners In The Near Future

Dogecoin is one of the most known cryptocurrency out there, after Bitcoin. It may be pretty easy to pick up some Dogecoin, but, until now, it’s been difficult to convert it into cash. On Wednesday, Canadian electronic currency exchange Vault of Satoshi announced that it will now support Dogecoin, making it far easier to convert the currency into U.S dollars.

Anyone interested in turning their dogecoins into government-backed currency with wider acceptance up until now had to make an individual deal with someone willing to trade for Bitcoin, which could then be exchanged for dollars, Euros, and outer currency. However, this intermediate step not only made the entire process significantly more onerous, but it also inserted an element of risk.

Reports are that Reddit r/DogecoinScamWatch moderator u/goodshibe explained how the majority of the scams posted on the forum involve people having their coins taken from them while trying to convert dollars into dogecoins, or vice versa.

‟Once … [Dogecoin] gets a direct USD/CAD conversion … in place, many of these kinds of scams will fall away,” u/goodshibe predicted.

This newfound ability to easily and safely convert Dogecoin into dollars could change the nature of how the currency is used. According to BitInfoCharts.com, dogecoins with the equivalent of $212,500,000 were said to have been traded over the past 24 hours. To give a sense of how ridiculous that transaction volume is, the total value of every dogecoin in existence is reported to be only around $60,300,000.

The generosity seems to be related to the fact that a single dogecoin is worth a tiny fraction of a penny, so handing out a few dogecoins takes only slightly more commitment. However, it’s likely also a function of there not being a whole lot of things someone could easily do with a wallet full of dogecoins other than hand them out just like that. Now that converting dogecoins into dollars is no more difficult than exchanging any other cryptocurrency, there’s the chance that the community surrounding Dogecoin may come to more closely resemble that of any other cryptocurrency

Thank you Mashable for providing us with this information

Space Drilling Could Become Reality In Less Than 5 Years, First Stop… The Moon?

If I am to know my geography right, we have plenty of water as it is on our planet. However, a Sudbury-based company in Ontario, Canada, has developed a space drill which could be operational within the next 5 years. Their first ‘target’ seems to be the Moon, where the drill would demonstrate its effectiveness by gathering water on another planet (well, satellite in this case). It would also signal the start of the space mining industry.

Deltion Innovations Ltd. has announced it’s been awarded a contract by the Canadian Space Agency to advance the design of its “DESTIN” drill and then test it in a moon-like environment on Earth. Deltion spokesman Dale Boucher says the tests are aimed at advancing technology so the space drill would be ready for a lunar prospector mission in 2018. The mission’s objective is to prospect for water ice near the South Pole of the moon, extract samples and then analyze them.

Boucher says the mission would kick-start space mining as an economic activity, and it would be the first of many missions looking for usable resources, either on an asteroid or the moon. The Canadian drill would be mounted on Artemis Jr., a lunar mining rover being developed by Ottawa-based Neptec Design. Neptec made the laser-camera system that was used to inspect the exterior of the now retired United States space shuttles.

Thank you Global Post for providing us with this information

CNN and Twitter Become Official Partners, Said To ‘Revolutionize’ News Gatherings

It appears that head Twitter’s head of news, Vivian Schiller, has announced their first project, namely a partnership with CNN and the New York startup Dataminr. It is said that the partnership, along with Dataminr, will help journalists cover breaking news and making sense of the flood of public information on Twitter.

Dataminr is a five-year-old startup that has raised $48 million from investors like Box Group, Venrock and IVP. Until now it has worked with clients in financial services, helping banks and hedge funds make real-time investment decisions by processing huge amounts of social media content and extracting the high-value information. Dataminr uses machine learning algorithms to analyze the Twitter firehose of data and highlight the needle in the haystack so CNN reporters can find the most important, relevant, and reliable facts and images from around the world.

“There is actually a very different set of algorithms that help us determine if information spreading on Twitter will move markets, as opposed to becoming a big news story,” said Dataminr CEO Ted Bailey. “So it’s not a matter of more or less data, but of how the service is focused and tuned.”

CNN is one of the companies that set up Twitter accounts in their news gathering since 2009. Now it wants to bring a purpose-built product and official partnership. For example, CNN first learned about a shooting this weekend at a mall in Maryland through Dataminr, which has been deployed in-house for several months now, and picked up on a tweet from a first responder on the scene. The alert helped CNN be one of the first on the story. The company says it now produces about two stories a day based off tips from its Dataminr alerts.

Thank you The Verge for providing us with this information
Image courtesy of The Verge

Bitcoin Estimated At A Value Of $100,000 In The Future

Chris Dixon, partner at Andreessen Horowitz, states that Bitcoin has the potential to become the leading means of making payments online in the future. He says that a single Bitcoin could be worth more than its present value. “I think [a bitcoin] could be easily worth $100,000,” Dixon says.

This is quite a big achievement, since a single Bitcoin was worth only $13 about a year ago. Currently, a bitcoin is worth roughly $840, give or take, giving it a 6,461% increase in value over a 12 month statistic. In addition to the value, there are around 12.2 million Bitcoins in circulation at the moment, summing up a value of around $10.3 billion in cryptocurrency.

Dixon adds that the maximum number of Bitcoins could be reached by the turn of the century, which can lead to increasing value of the Bitcoin by that time. The Bitcoin is currently deemed a very speculative investment, however it may hold promise as an investment instrument, at least with regard to the applications and companies that offer Bitcoin-related services.

This December Andressen Horowitz itself invested $25 million in Coinbase, a San Francisco-based startup that specializes in Bitcoin payments and exchange. During the same period, Horizons Ventures had also put in an investment in BitPay, yet another Bitcoin payment processor.

Thank you VR-Zone for providing us with this information

iBuyPower Enters Bitcoin Mining Market With CoinMine Desktop Series

iBuyPower is reportedly making its way into the Bitcoin mining market with the announcement of the CoinMine series PCs. The series, as the name points out, are approaching Bitcoin mining users in their hope of securing a position in the cryptocurrency market.

The desktops are said not to be different from the company’s gaming rigs, though they start with a pair of AMD Radeon R9 280X graphics cards as part of the base configuration. There are a pair of CoinMine desktops, one using AMD processors and the other Intel CPUs. As expected, the AMD-based model starts at a lower price of $999, and the base configuration features an FX-4300 processor, 4GB of RAM, 500GB and DVD burner.

While the AMD versions only come with air cooling solutions, the Intel version takes the approach of adding a liquid cooling solution. This is why base Intel model starts at $1,559 having a Core i3-4130 Haswell processor, 8GB of RAM, terabyte hard drive, and DVD burner. Liquid cooling is deal when dealing with mining operations because the heat generated from the GPU operations is a known issue.

Customers can customize each model any way they like, from adding a third graphics card or upgrading processor, RAM, storage, cooling, etc. The only limit in terms of customizing here is the actual budget for the mining rig at hand.

Thank you ZDNet for providing us with this information
Image courtesy of ZDNet

New Cryptocurrency Dubbed “Coinye” Set To Launch On The 11th Of January

If you thought Bitcoin was the next big thing, take a look at the Coinye! Coinye West virtual coins are stamped with the face of rapper Kanye West, complete with ridiculous shutter shades . The currency’s creators hope Kanye himself will eventually get behind the project.

This special virtual currency also wants to simplify the complicated Bitcoin mining process by offering specific programs that make Bitcoin mining much easier. Bitcoin mining usually requires a high-end computer built specifically to solve complex mathematical problems.

“Our goal with Coinye West is to make it easier for people to use cryptocurrency. We plan on releasing a front end to the ‘mining’ programs called CoinyeMiner,” the creators added. “It will make things a lot more simple and people will be able to make their own coins. We’re working round-the-clock to get everything going as smoothly as possible,” explained the Coinye’s creators.

Coinye’s creators want the currency to be used to buy concert tickets and other more mainstream products. Other Bitcoin spoofs like Dogecoin, have also popped up over the last few months. While this all still seems like an elaborate hoax, Coinye West Bitcoins are reportedly set to launch on Jan. 11.

Thank you Canada.com for providing us with this information
Image courtesy of Washington Post

Bitcoin Offers Accepted By A Vegas Developer Selling His $7.85 Million Mansion

A developer and casino owner based in Los Vegas is reportedly attempting to sell his 25,000 feet mansion at a $7.85 million and is willing to accept Bitcoin currency as well. The idea apparently comes from his two sons who currently are digital “miners” and deal with the aforementioned currency.

“The advantage is that we’re expanding our market and adding some notoriety,” said Jack Sommer, the developer and casino owner. However, Julian Tosh, a consultant and owner of the marketplace website bitcoinsinvegas.com stated in the “Las Vegas Review-Journal” that using the currency can streamline international business deals: “There are a bunch of people who have bitcoins, and they’re dying for a place to spend it”.

Craig Tann, Sommer’s sales agent, said that Sommer’s mansion would be the first home in southern Nevada tp be marketed formally around bitcoins. But there are also other businesses which accept the currency. For example, a California Lamborhini dealership sold a $103,000 Tesla for 91.4 bitcoins. Also, a Canadian citizen listed his Alberta home for an estimated 480 bitcoins ($405,000 in US dollars).

But there is also a downside to all of this. As Tosh points out, one bitcoin was valued at $10 in January and rose up to over $1,000 in the October-November timeline. However, Friday it was valued at $870, but Bank of America Merrill Lynch speculates the bitcoint to rise again to $1,300, therefore a transaction in bitcoins is very risky. You can win big or you can lose heavily.

Thank you TheStar for providing us with this information
Image courtesy of TheStar

BitCoin Tip Tricks Mac Users Into Bricking Their Machines

It was only last week that Xbox One users were bricking their consoles, a tip posted online promised to unlock backwards compatibility on the console, but the “secret feature” actually just caused the console to boot loop, effectively bricking the console! Long story short, STAY OUT OF THE DEV MENU.

Now just as that story dies down, an image promoting a secret BitCoin mining feature on Apple computers was posted, promising users the ability to unlock a feature that has been hidden on all Apple products since 2009. With BitCoin in high popularity at the moment, many people are keen to get mining and earn some extra cash, unfortunately the were (rather obviously) tricked.

Of course, not everyone is a tech news writer like myself and not everyone understands terminal commands, so I can understand that some people did fall for this, although I doubt too many would be quick to admit it.

Let’s just be clear about one thing, DON’T TRY THIS! Why? Because it formats your hard drive of course.

Thank you Cult of Mac for providing us with this information.

Images courtesy of Cult of Mac.

AMD Radeon GPU’s In Short Supply Due To Mining Popularity Boom

Cryptocurrencies are literally one of the coolest things on the planet right now, and just like a gold rush people are flocking in big numbers to strike it rich by mining the coins. The main component of doing such a thing is AMD graphics cards and while they can be mined well on Nvidia hardware, AMD hardware performs significantly better at the task.

The price of BitCoin, LiteCoin, WorldCoin and no doubt many others is booming fast as the scene heats up, people are running ASIC miners, cooking GPU’s, building epic mining rigs, all in the name of turning some computer time into cash, some with greater success than others.

Personally I think most mining systems are a waste of time these days, but that hasn’t stopped people trying to get in on the action. Of course the real winner here is AMD and I can bet they’re not upset about the recent boom in popularity for their GPU’s.

Thank you Brightsideofnews for providing us with this information.

Two Bitcoin Mining Motherboards Introduced By BIOSTAR

For those interested in mining bitcons, take a look at BIOSTAR’s two motherboards dedicated for such operations. The company has two ATX motherboards that are perfect for setting up a Bitcoin mining machine. One is based on the Intel H81 chipset with an Intel socket 1150 board and the other is a H61B with a socket 1155 board, both having support for Intel 2nd, 3rd and 4th generation Core i7/i5 and i3 CPUs.

For those who do not know, mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere. A “mining rig” is a computer system used for mining Bitcoins. It can be built specifically for mining or it could be your everyday computer for gaming and surfing, and is used to mine only on a part-time basis.

With the rising price of Bitcoins, now about $1000.00 USD for one Bitcoin, GPU mining can theoretically be profitable. What you need is a system that can do enormous amounts of mathematical calculations. The best way to do this is the GPUs in graphics cards. Motherboards with on-board graphics (also referred to as integrated graphics) are not as good as a dedicated GPU card. You should therefore choose a motherboard with multiple PCI slots to fit in 2, 3 or 4 high-powered graphics cards like the Radeon series from AMD.

To create a dedicated mining machine, getting a value oriented motherboard that you can load up graphics cards is the ideal strategy. BIOSTAR’s Hi-Fi H81 S2 and H61B with PCI-E Gen 3.0 are perfect choices. PCI-E 3.0 is the next evolution of the ubiquitous and general-purpose PCI Express I/O standard and is perfect for high-end AMD or NVIDIA graphics cards.

These boards will proudly show off BIOSTAR’s in-house technology, such as audio and power regulation upgrades such as Hi-Fi Power and Hi-Fi AMP. The video output includes HDMI with HDCP which allows full video & audio support via standard DVI output.

Thank you TechPowerUp for providing us with this information
Images courtesy of TechPowerUp

ASRock Reveal Two New BitCoin Mining Motherboards

For those in the BitCoin mining business, you’ll know that extracting the coins is getting harder and harder over time, not only as more people are now mining, but also because the currency is designed that way. Mining the coins doesn’t take much in terms of hardware, almost any computer is capable, but most will be an exercise in futility.

Dedicated high end hardware of epic proportions in the only real way to go about it, custom motherboard packed to the brim with number crunching GPUs that can mine the coins intensively over long periods and even then you’re going to be fighting to strike a balance between an epic electricity bill and the coins you’ve gained.

Despite the mining business becoming harder, ASRock still want to be part of the party and are preparing to release two special motherboard that promise to help people “join the gold rush now!”. The H61 Pro BTC and the H81 Pro BTC are both Intel socket boards, with the H81 Pro BTC being Haswell compatible. The special feature of these boards being six PCIe slots, as well as extra power connections so that you can hook up half a dozen graphics cards and reap the compute rewards.

The only problem is that even with a rack of 7990 GPUs churning away, this rig may not even be powerful enough to break even, but you’re welcome to try and calculate the cost vs the potential BitCoins you could earn right here.

Thank you Engadget for providing us with this information.

Image courtesy of Engadget.

 

Bitcoiners Need More Coders As Popularity Increases

 

Bitcoin has gone from strength to strength this last couple of years and while it may have seen a few setbacks recently we can’t ignore the system because put simply, it’s not going to go away, and it’s incredible that it’s progressed as far as it has, a lot of people clearly want and need this service.

“Our bottleneck is not new code, it’s code review and testing,” said Gavin Andresen , chief scientist at the Bitcoin Foundation, but with just two full time members the foundation needs more help on coding the back end software that keeps everything running, not to mention keep up with security and future applications.

“If you want to make developers happy, start reviewing their requests [on GitHub]. Start testing. Say, ‘I tried this,'” Andresen said. When talking about how they need a new lead programmer but also need new testers at a lower level to make sure everything is running smoothly, especially in light of the DDOS attacks that struck the service back in April.

The peer-to-peer nature of Bitcoin makes it decentralized from major banks and other financial networks, a truly digital currency and one that is rapidly emerging from the shadows in to the real world and gaining massive popularity in the process too.

It’s unknown how many people use the service, but it is said to be many millions and hundreds of thousands more are expect to join over the next few month via both mining services and buy cash transaction.

“Little tasks like writing test scripts, test plans … Those sorts of things are not super brainy, algorithmic heavy research, but we desperately need that sort of stuff,” said Jeff Garzik of BitPay, the leading Bitcoin payment processor.

Bitcoin has been around 18 million transactions since it started 4 years ago and more and more places are starting to accept the currency as a form of payment, so even with all it’s issues, the future of Bitcoin is looking pretty promising, but lets not forget that the service is still truly in its infancy.

Source

Bitcoin Website “Mt. Gox” Has Funds Seized By Homeland Security

Funds of Mt. Gox have been seized after the worlds largest Bitcoin exchange is accused of violating US money transfer regulations. Mt. Gox is a Bitcoin trading platform and mobile payment service and this news will no doubt add to the recent wave of concerns about the currency known as Bitcoin.

The U.S. District Court in Maryland ordered the seizure of Mt. Gox’s funds on Tuesday, which were taken from the account at Dwolla, although the warrant does not indicate that Dwolla (a payments service) is under investigation, which can be seen on this seizure order which the U.S. Immigration and Customs Enforcement (ICE) spokeswoman provided here.

Mt. Gox failed to register as a “money transmitting business”, which could lead to up to five years in prison and this isn’t something that will be taken lightly given the size or the Mt. Gox website and it’s critical role in the world of the Bitcoin currency.

Accounts were setup to transfer money between Mt. Gox and Dwolla, before exchanging them for USD in to the Dwolla account, proving that the business was in fact in the money transmitting business.

Mt. Gox is one of the most established Bitcoin exchanges, a place for people to do business with the worlds popular online currency and these new developments will no doubt play hell with the value of Bitcoins and any related stocks, but I guess we won’t know for a day or two what the real damage will be.

We’ll keep you posted on any future developments, but for now we expect the case to go to court sometime in the near future.

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