Bitcoin Forum>Bitcoin>Bitcoin Discussion
Author

Topic: The Week In Bitcoin - May 23 through May 29 2011 (Read 2119 times)

Stephen Gornick
legendary
Activity: 2506
Merit: 1010
The Week In Bitcoin - May 23 through May 29 2011
May 31, 2011, 06:30:05 PM
#8
Sunday, May 29th, 2011

  • Video:
    Steve Gibson: “These (bitcoin miners) have gone nuts!” on Security Now episode #302
    “But you’re not going to use 93 kWh a day, are you?  Apparently, yes.  These people [miners] have gone nuts”.
    “It is a robust cyber currency that as far as I can see was absolutely done right”.
    - http://www.youtube.com/watch?v=qLpNGEXLUKY&t=2008s (The bitcoin segment begins at about 0:33:25 in)

**********************
Bitcoin News website is being switched to a format that better accommodates news readers (RSS).
Watch for an announcement in the post for the next weekly."
**********************



Have a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
Stephen Gornick
legendary
Activity: 2506
Merit: 1010
Re: The Week In Bitcoin - May 23 through May 29 2011
May 29, 2011, 05:06:05 PM
#7
Saturday, May 28th, 2011

  • Article / Blog post:
    Bitcoin top 100 ‘Rich List’ 27th May 2011 on The Bitcoin Report
    Not only is each bitcoin worth over eight times (relative to the dollar) since the last time the Rich List was published, the number of bitcoins needed to even get on the list has increased.
    - http://bit.ly/jA6sKw
  • Ending soon:
    Over 200 Bitcoin-related domain names are being offered for sale.  Bidding is (was ?) to end “towards the end of May”.
    “SatoshiNakamoto.com highest bid: 4.49 BTC”.
    - http://bitcoindomains.blogspot.com
  • New tool: Dot-bit domain cost calculator
    Shows how many namecoins are needed to purchase a .bit domain registration.
    Eight hundred domain names have been registered thus far, about a third of them in the past week.
    - http://dot-bit.org/tools/domainCost.php
    - http://webpagedeveloper.me/name_scan.php (list of the first 500 names)
    - http://dot-bit.org/HowToBuyNamecoins (miners trading namecoins for bitcoins)
  • Announcement:
    BitLotto reduces ticket fee for monthly lottery to 0.25 BTC beginning with July 6th Draw.
    For wagers towards the June 1st draw the only valid amount remains 1.0 BTC.  The blockchain shows those wagers and indicates that the lottery payout will be worth over $1,000 USD.  Note: All wagering for BitLotto must sent only from a local Bitcoin client (i.e., not from an EWallet provider).
    - http://www.bitlotto.com  (local restrictions apply)
  • Article / Blog post:
    A Bitcoin Lesson, From a School’s System Administrator by Ryan Broderick on Motherboard.tv
    “[Bitcoin is] one of those things that was created but now exists independently of its creators. They can’t say, “oh we don’t like this” and shut it off. There is nothing to shut off.”
    “Say everyone stopped using Bitcoin but I had Bitcoins and you had Bitcoins. We could be the only people using the software online and I could still send them to you.”
    - http://bit.ly/lCMCoj



Have a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
Stephen Gornick
legendary
Activity: 2506
Merit: 1010
Re: The Week In Bitcoin - May 23 through May 29 2011
May 28, 2011, 01:38:31 PM
#6
Friday, May 27th, 2011

  • Article / Blog post:
    Bitcoin is Worse is Better by gwern on Bitcoin Weekly
    “Bitcoin is a perfect example of Worse is Better. It seems to work. Just like Unix. Unix spread, networked, survived - and the rest did not.”
    “Bitcoin tends to turn people into marketers because they feel they have something to gain.  Bitcoin’s greatest virtue is not its deflation, nor its microtransactions, but its viral distributed nature.”
    - http://bitcoinweekly.com/articles/bitcoin-is-worse-is-better
  • Article / Blog post:
    eG8 and Internet Control Points by Simon Phipps on ComputerWorldUK
    “[The Dot-BIT/Namecoin project], based on the distributed online currency system Bitcoin, aims to implement a secure DNS that has no points of control. We need this sort of distributed infrastructure so that the control points simply aren’t there to be abused.”
    - http://blogs.computerworlduk.com/simon-says/2011/05/decentralising-the-web/index.htm
    - http://dot-bit.org
  • Article / Blog post:
    Cincinnati’s Hive13 Hackerspace adds Bitcoin Local Exchange on Bitcoin Money
    “During the Tuesday meetings attendees can trade cash for bitcoins.”
    “There are hundreds of hackerspaces globally.  Hopefully more will follow Hive13’s lead.”
    - http://www.bitcoinmoney.com/post/5894406565



Have a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
Stephen Gornick
legendary
Activity: 2506
Merit: 1010
Re: The Week In Bitcoin - May 23 through May 29 2011
May 27, 2011, 03:35:58 AM
#5
Thursday, May 26th, 2011

  • Article / Blog post:
    This Non-Fiat Currency Is Up Over 1,000% by Jeff Berwick on Resource Investor
    ”Gresham’s law is driving me and I assume many of the others”.
    - http://bit.ly/ioN9QO
  • Markets - Unusual trading activity for BTC/SLL on VirWoX
    Bitcoins were being bought using Lindens, the currency in the virtual world Second Life at an abnormally high price at a very rapid pace for several hours on Thursday.  The activity appears to have been responsible for the USD/SLL being taken down nearly 10% for at least some period of time as well.
    - http://www.virwox.com
    - http://bit.ly/m2mxSa
  • Mining: New software
    gpu-watch: dynamic GPU temperature monitoring and fan control
    A script that will monitor all GPUs in a machine and control fan speed accordingly.
    - http://forum.bitcoin.org/index.php?topic=10062.0
  • Newest version of Bitcoin client nearing completion, v0.3.22
    The upcoming release is currently in final testing (release candidate 5 is out)
    Features include:
    - Remove ‘generate coins’ option from GUI and remove 4-way miner.
    - Add -port option for P2P port.
    - minimum TX fee reduced to 0.0005 BTC (Fee in GUI remains at 0.01 BTC until next release though)
    - Bug fixes, source tree reorg and more.
    - http://forum.bitcoin.org/index.php?topic=8894.0
  • Article / Blog post:
    The relationship between bitcoin price and difficulty by nanotube on Virtually Shocking
    “The primary effect, however, is the high price drawing new miners in, rather than new mining capacity drawing the buyers in”.
    - http://bit.ly/in2jra
  • s3052’s Bitcoin Market Technical Analysis:
    “The BTC/USD market shows a beautiful technical strength, far stronger than any other financial market over the past years”.
    “As long as the $7.80 - $8.20 range holds, [the $10] level is in the cards”.
    - http://bit.ly/leg3LL
  • Article / Blog post:
    Should OpenSim Use Bitcoin As Its Virtual Currency? on New World Notes
    “OpenSimulator is an open source, peer-to-peer virtual world technology with a huge hurdle of its own: There’s no universal currency with which to buy virtual content”.
    - http://nwn.blogs.com/nwn/2011/05/should-opensim-use-bitcoin-as-its-virtual-currency.html
  • Article / Blog post:
    Difficulty adjusts to 434,877, a 78% increase on Bitcoin Miner
    “Another wildcard is the introduction of browser-based webCL miners”.
    “The rising exchange rate enables miners to continue investing in additional capacity and still stay one step ahead the difficulty avalanche.”
    - http://www.bitcoinminer.com/post/5872990977
  • Press:
    Fox’s Freedom Watch show finds Bitcoin as #1 requested topic suggestion for upcoming show
    This would be the first exposure for Bitcoin on any major television media.
    - http://freedomwatch.uservoice.com/forums/16625-freedom-watch-show-ideas
  • Podcast:
    Girls Out Loud Episode 34 by Maya Grinberg and Cristina Cordova on GirlsOutLoud.com
    “When I go to Vegas, I do not like to gamble. When something like this comes up? I’m totally down. I don’t feel like the house has an edge on me, because there is no house.” Starts at 31:45.
    - http://bit.ly/lmCN30
    - http://girlsoutloudshow.com/wp-content/podcasts/gols_034.mp3
  • Article / Blog post:
    Panic (buying) at BitDisco on Bitcoin Money
    “There are a few characteristics that make bitcoin trading unique. […] When these situations combine and occur together the end result is likely a frustrated buyer.  The result is a buying frenzy”.
    - http://www.bitcoinmoney.com/post/5865616397
  • Article / Blog post:
    Bitcoin Exchange Announces Plans To Offer Margin Trading on Bitcoin Money
    ”Margin trading may bring risks to the exchange […]”.
    “The exchange’s operator has stated that testing [of the trading system and its risk management algorithms] involves simulations to ensure that the customer’s funds are 100% safe.”
    - http://www.bitcoinmoney.com/post/5856849119


Have a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
Stephen Gornick
legendary
Activity: 2506
Merit: 1010
Re: The Week In Bitcoin - May 23 through May 29 2011
May 26, 2011, 10:31:07 AM
#4
Wednesday, May 25th, 2011

  • Bitcoin exchange rate: Intraday spike to $9.33, record high
    Record volume on bitcoin’s leading exchange, Mt. Gox, in dollar terms with over $0.5M USD traded in a 24 hour period.
    - http://bit.ly/ixYf86
  • Bitcoin History: Anniversary of Laszlo’s 10,000 BTC Pizza - March 22, 2010
    Earlier this week was the one-year anniversary of one of the first real-world transactions involving bitcoins.  You’ve come a long way, Bitcoin!
    - http://en.bitcoin.it/wiki/History
    - http://www.bitcoinmoney.com/post/3109720916
  • Infographic:
    What is Bitcoin? [Infographic] by Sean McColgan on Money Saving Blog
    Asks “Can Bitcoin change finance the way the web changed publishing?”
    - http://www.promotionalcodes.org.uk/26970/what-is-bitcoin
  • Bitcoin Wiki Trade page (merchant directory) gets censored further
    ”Then they came for the gambling, and I didn’t speak out because I don’t place wagers.”
    Following the April censorship moves which removed references to The Silk Road Anonymous Marketplace, this latest purging targeted links to online gambling websites.
    Even with the removal of gambling sites the page has become unwieldy — as wiki pages were not designed for this purpose.
    - http://en.bitcoin.it/wiki/Trade
    - http://forum.bitcoin.org/index.php?topic=9770.0


Have a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
Stephen Gornick
legendary
Activity: 2506
Merit: 1010
Re: The Week In Bitcoin - May 23 through May 29 2011
May 25, 2011, 02:06:24 AM
#3
Tuesday, May 24th, 2011

  • Article / Blog post:
    No One Sends Bitcoins on Ironwolf blog
    “The idea that Bitcoins are ‘sent’ from one person to another like conventional money [is wrong]”.
    “It looks like something has been “sent,” but this is just a useful fiction”.
    - http://ironwolf.dangerousgames.com/blog/archives/1105
  • Article / Blog post:
    What Bitcoin Is, and Why It Matters by Tom Simonite in MIT’s Technology Review
    “Even limited success could allow Bitcoin to change the fate of more established currencies. ‘Competition is good, even between currencies—perhaps the example of Bitcoin could influence the behavior of the Federal Reserve’”.
    - http://www.technologyreview.com/computing/37619
  • Business:
    Bitcoin exchange Mt. Gox adds Australian AUD bank direct deposit (BPay) funding method.
    Fee is AU$2 per-deposit. Funds are converted to USD at the current rate. Transfers take one business day.
    - http://mtgox.com/users/addFunds
  • Press:
    What are Bitcoins? on NPR’s All Things Considered radio program
    Slates’s economic and business reporter Annie Lowrey explains the basics of Bitcoin.
    - http://www.npr.org/2011/05/24/136620231/what-are-bitcoins
  • Update on @TheRealPlato’s #BitcoinRoadTrip: (Denver, CO)
    Travel in some less populated regions meant that Plato has needed to use his Shell prepaid gas card which was purchased with bitcoins (incidentally, obtained from the operator or BitcoinExchange.cc).
    - http://twitter.com/therealplato
    - http://www.youtipit.org/t/J2937 (Plato's tipit. Donate a little for the cause.)
  • New website:
    BitcoinExchange.cc is now online.
    The Bitcoin forum member “BitcoinExchange” launched the site to improve the cashout service that has doing business since April.  Previously most transactions for the service occurred online through the forum, by e-mail, by IM or by on Skype.
    The service serves those wishing to redeem bitcoins or a variety of other digital currencies for payment through PayPal, ACH (direct deposit) or other online currencies or to receive e-gift cards, phone cards and other mediums of exchange.
    - http://www.bitcoinexchange.cc
    - http://en.bitcoin.it/wiki/BitcoinExchange_Services
  • Bitcoin Economy Snapshot:
    1 BTC = $7.07 USD, Size: 6.32M BTC, Last 24h: 0.34M BTC in 5.7K trx, Difficulty: 244K, Forum posts/day: 2,055 Nodes: 1.8K
    - http://twitter.com/bitcoineconomy
  • Article / Blog post:
    Opportunity: Thy Name is Bitcoin by Brian Cunningham of YouTipIt
    “Any conventional method solely based on Dollars/Euros would be prohibitively expensive, with numerous legal pitfalls.”
    “We jumped at the opportunity to base our application on a currency as innovative and flexible as Bitcoin.”
    - http://enabledidler.blogspot.com/2011/05/in-mat-cropps-excellent-article-for.html
  • Business: Bitcoin Solutions, LLC acquires BitcoinCashout.com
    Just weeks after launch, Bitcoin Cashout, a fixed-rate exchange where bitcoins can be traded for prepaid gift cards, has been aquired.
    Bitcoin Cashout offers Visa, Mastercard and American Express virtual prepaid cards.
    Following PayPal’s actions, prepaid card and gift card cashout services are likely seeing brisk business.
    - http://www.bitcoincashout.com
    - http://en.bitcoin.it/wiki/Bitcoin_Cashout



Have a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
Joseph
newbie
Activity: 37
Merit: 0
Re: The Week In Bitcoin - May 23 through May 29 2011
May 24, 2011, 06:03:38 AM
#2
Thanks for the update Stephen!
Stephen Gornick
legendary
Activity: 2506
Merit: 1010
Re: The Week In Bitcoin - May 23 through May 29 2011
May 24, 2011, 02:22:26 AM
#1
Sunday, May 29th, 2011

  • Video:
    Steve Gibson: “These (bitcoin miners) have gone nuts!” on Security Now episode #302
    “But you’re not going to use 93 kWh a day, are you?  Apparently, yes.  These people [miners] have gone nuts”.
    “It is a robust cyber currency that as far as I can see was absolutely done right”.
    - http://www.youtube.com/watch?v=qLpNGEXLUKY&t=2008s (The bitcoin segment begins at about 0:33:25 in)


Saturday, May 28th, 2011

  • Article / Blog post:
    Bitcoin top 100 ‘Rich List’ 27th May 2011 on The Bitcoin Report
    Not only is each bitcoin worth over eight times (relative to the dollar) since the last time the Rich List was published, the number of bitcoins needed to even get on the list has increased.
    - http://bit.ly/jA6sKw
  • Ending soon:
    Over 200 Bitcoin-related domain names are being offered for sale.  Bidding is (was ?) to end “towards the end of May”.
    “SatoshiNakamoto.com highest bid: 4.49 BTC”.
    - http://bitcoindomains.blogspot.com
  • New tool: Dot-bit domain cost calculator
    Shows how many namecoins are needed to purchase a .bit domain registration.
    Eight hundred domain names have been registered thus far, about a third of them in the past week.
    - http://dot-bit.org/tools/domainCost.php
    - http://webpagedeveloper.me/name_scan.php (list of the first 500 names)
    - http://dot-bit.org/HowToBuyNamecoins (miners trading namecoins for bitcoins)
  • Announcement:
    BitLotto reduces ticket fee for monthly lottery to 0.25 BTC beginning with July 6th Draw.
    For wagers towards the June 1st draw the only valid amount remains 1.0 BTC.  The blockchain shows those wagers and indicates that the lottery payout will be worth over $1,000 USD.  Note: All wagering for BitLotto must sent only from a local Bitcoin client (i.e., not from an EWallet provider).
    - http://www.bitlotto.com  (local restrictions apply)
  • Article / Blog post:
    A Bitcoin Lesson, From a School’s System Administrator by Ryan Broderick on Motherboard.tv
    “[Bitcoin is] one of those things that was created but now exists independently of its creators. They can’t say, “oh we don’t like this” and shut it off. There is nothing to shut off.”
    “Say everyone stopped using Bitcoin but I had Bitcoins and you had Bitcoins. We could be the only people using the software online and I could still send them to you.”
    - http://bit.ly/lCMCoj



Friday, May 27th, 2011

  • Article / Blog post:
    Bitcoin is Worse is Better by gwern on Bitcoin Weekly
    “Bitcoin is a perfect example of Worse is Better. It seems to work. Just like Unix. Unix spread, networked, survived - and the rest did not.”
    “Bitcoin tends to turn people into marketers because they feel they have something to gain.  Bitcoin’s greatest virtue is not its deflation, nor its microtransactions, but its viral distributed nature.”
    - http://bitcoinweekly.com/articles/bitcoin-is-worse-is-better
  • Article / Blog post:
    eG8 and Internet Control Points by Simon Phipps on ComputerWorldUK
    “[The Dot-BIT/Namecoin project], based on the distributed online currency system Bitcoin, aims to implement a secure DNS that has no points of control. We need this sort of distributed infrastructure so that the control points simply aren’t there to be abused.”
    - http://blogs.computerworlduk.com/simon-says/2011/05/decentralising-the-web/index.htm
    - http://dot-bit.org
  • Article / Blog post:
    Cincinnati’s Hive13 Hackerspace adds Bitcoin Local Exchange on Bitcoin Money
    “During the Tuesday meetings attendees can trade cash for bitcoins.”
    “There are hundreds of hackerspaces globally.  Hopefully more will follow Hive13’s lead.”
    - http://www.bitcoinmoney.com/post/5894406565



Thursday, May 26th, 2011

  • Article / Blog post:
    This Non-Fiat Currency Is Up Over 1,000% by Jeff Berwick on Resource Investor
    ”Gresham’s law is driving me and I assume many of the others”.
    - http://bit.ly/ioN9QO
  • Markets - Unusual trading activity for BTC/SLL on VirWoX
    Bitcoins were being bought using Lindens, the currency in the virtual world Second Life at an abnormally high price at a very rapid pace for several hours on Thursday.  The activity appears to have been responsible for the USD/SLL being taken down nearly 10% for at least some period of time as well.
    - http://www.virwox.com
    - http://bit.ly/m2mxSa
  • Mining: New software
    gpu-watch: dynamic GPU temperature monitoring and fan control
    A script that will monitor all GPUs in a machine and control fan speed accordingly.
    - http://forum.bitcoin.org/index.php?topic=10062.0
  • Newest version of Bitcoin client nearing completion, v0.3.22
    The upcoming release is currently in final testing (release candidate 5 is out)
    Features include:
    - Remove ‘generate coins’ option from GUI and remove 4-way miner.
    - Add -port option for P2P port.
    - minimum TX fee reduced to 0.0005 BTC (Fee in GUI remains at 0.01 BTC until next release though)
    - Bug fixes, source tree reorg and more.
    - http://forum.bitcoin.org/index.php?topic=8894.0
  • Article / Blog post:
    The relationship between bitcoin price and difficulty by nanotube on Virtually Shocking
    “The primary effect, however, is the high price drawing new miners in, rather than new mining capacity drawing the buyers in”.
    - http://bit.ly/in2jra
  • s3052’s Bitcoin Market Technical Analysis:
    “The BTC/USD market shows a beautiful technical strength, far stronger than any other financial market over the past years”.
    “As long as the $7.80 - $8.20 range holds, [the $10] level is in the cards”.
    - http://bit.ly/leg3LL
  • Article / Blog post:
    Should OpenSim Use Bitcoin As Its Virtual Currency? on New World Notes
    “OpenSimulator is an open source, peer-to-peer virtual world technology with a huge hurdle of its own: There’s no universal currency with which to buy virtual content”.
    - http://nwn.blogs.com/nwn/2011/05/should-opensim-use-bitcoin-as-its-virtual-currency.html
  • Article / Blog post:
    Difficulty adjusts to 434,877, a 78% increase on Bitcoin Miner
    “Another wildcard is the introduction of browser-based webCL miners”.
    “The rising exchange rate enables miners to continue investing in additional capacity and still stay one step ahead the difficulty avalanche.”
    - http://www.bitcoinminer.com/post/5872990977
  • Press:
    Fox’s Freedom Watch show finds Bitcoin as #1 requested topic suggestion for upcoming show
    This would be the first exposure for Bitcoin on any major television media.
    - http://freedomwatch.uservoice.com/forums/16625-freedom-watch-show-ideas
  • Podcast:
    Girls Out Loud Episode 34 by Maya Grinberg and Cristina Cordova on GirlsOutLoud.com
    “When I go to Vegas, I do not like to gamble. When something like this comes up? I’m totally down. I don’t feel like the house has an edge on me, because there is no house.” Starts at 31:45.
    - http://bit.ly/lmCN30
    - http://girlsoutloudshow.com/wp-content/podcasts/gols_034.mp3
  • Article / Blog post:
    Panic (buying) at BitDisco on Bitcoin Money
    “There are a few characteristics that make bitcoin trading unique. […] When these situations combine and occur together the end result is likely a frustrated buyer.  The result is a buying frenzy”.
    - http://www.bitcoinmoney.com/post/5865616397
  • Article / Blog post:
    Bitcoin Exchange Announces Plans To Offer Margin Trading on Bitcoin Money
    ”Margin trading may bring risks to the exchange […]”.
    “The exchange’s operator has stated that testing [of the trading system and its risk management algorithms] involves simulations to ensure that the customer’s funds are 100% safe.”
    - http://www.bitcoinmoney.com/post/5856849119


Wednesday, May 25th, 2011

  • Bitcoin exchange rate: Intraday spike to $9.33, record high
    Record volume on bitcoin’s leading exchange, Mt. Gox, in dollar terms with over $0.5M USD traded in a 24 hour period.
    - http://bit.ly/ixYf86
  • Bitcoin History: Anniversary of Laszlo’s 10,000 BTC Pizza - March 22, 2010
    Earlier this week was the one-year anniversary of one of the first real-world transactions involving bitcoins.  You’ve come a long way, Bitcoin!
    - http://en.bitcoin.it/wiki/History
    - http://www.bitcoinmoney.com/post/3109720916
  • Infographic:
    What is Bitcoin? [Infographic] by Sean McColgan on Money Saving Blog
    Asks “Can Bitcoin change finance the way the web changed publishing?”
    - http://www.promotionalcodes.org.uk/26970/what-is-bitcoin
  • Bitcoin Wiki Trade page (merchant directory) gets censored further
    ”Then they came for the gambling, and I didn’t speak out because I don’t place wagers.”
    Following the April censorship moves which removed references to The Silk Road Anonymous Marketplace, this latest purging targeted links to online gambling websites.
    Even with the removal of gambling sites the page has become unwieldy — as wiki pages were not designed for this purpose.
    - http://en.bitcoin.it/wiki/Trade
    - http://forum.bitcoin.org/index.php?topic=9770.0



Tuesday, May 24th, 2011

  • Article / Blog post:
    No One Sends Bitcoins on Ironwolf blog
    “The idea that Bitcoins are ‘sent’ from one person to another like conventional money [is wrong]”.
    “It looks like something has been “sent,” but this is just a useful fiction”.
    - http://ironwolf.dangerousgames.com/blog/archives/1105
  • Article / Blog post:
    What Bitcoin Is, and Why It Matters by Tom Simonite in MIT’s Technology Review
    “Even limited success could allow Bitcoin to change the fate of more established currencies. ‘Competition is good, even between currencies—perhaps the example of Bitcoin could influence the behavior of the Federal Reserve’”.
    - http://www.technologyreview.com/computing/37619
  • Business:
    Bitcoin exchange Mt. Gox adds Australian AUD bank direct deposit (BPay) funding method.
    Fee is AU$2 per-deposit. Funds are converted to USD at the current rate. Transfers take one business day.
    - http://mtgox.com/users/addFunds
  • Press:
    What are Bitcoins? on NPR’s All Things Considered radio program
    Slates’s economic and business reporter Annie Lowrey explains the basics of Bitcoin.
    - http://www.npr.org/2011/05/24/136620231/what-are-bitcoins
  • Update on @TheRealPlato’s #BitcoinRoadTrip: (Denver, CO)
    Travel in some less populated regions meant that Plato has needed to use his Shell prepaid gas card which was purchased with bitcoins (incidentally, obtained from the operator or BitcoinExchange.cc).
    - http://twitter.com/therealplato
    - http://www.youtipit.org/t/J2937 (Plato's tipit. Donate a little for the cause.)
  • New website:
    BitcoinExchange.cc is now online.
    The Bitcoin forum member “BitcoinExchange” launched the site to improve the cashout service that has doing business since April.  Previously most transactions for the service occurred online through the forum, by e-mail, by IM or by on Skype.
    The service serves those wishing to redeem bitcoins or a variety of other digital currencies for payment through PayPal, ACH (direct deposit) or other online currencies or to receive e-gift cards, phone cards and other mediums of exchange.
    - http://www.bitcoinexchange.cc
    - http://en.bitcoin.it/wiki/BitcoinExchange_Services
  • Bitcoin Economy Snapshot:
    1 BTC = $7.07 USD, Size: 6.32M BTC, Last 24h: 0.34M BTC in 5.7K trx, Difficulty: 244K, Forum posts/day: 2,055 Nodes: 1.8K
    - http://twitter.com/bitcoineconomy
  • Article / Blog post:
    Opportunity: Thy Name is Bitcoin by Brian Cunningham of YouTipIt
    “Any conventional method solely based on Dollars/Euros would be prohibitively expensive, with numerous legal pitfalls.”
    “We jumped at the opportunity to base our application on a currency as innovative and flexible as Bitcoin.”
    - http://enabledidler.blogspot.com/2011/05/in-mat-cropps-excellent-article-for.html
  • Business: Bitcoin Solutions, LLC acquires BitcoinCashout.com
    Just weeks after launch, Bitcoin Cashout, a fixed-rate exchange where bitcoins can be traded for prepaid gift cards, has been aquired.
    Bitcoin Cashout offers Visa, Mastercard and American Express virtual prepaid cards.
    Following PayPal’s actions, prepaid card and gift card cashout services are likely seeing brisk business.
    - http://www.bitcoincashout.com
    - http://en.bitcoin.it/wiki/Bitcoin_Cashout


Monday, May 23rd, 2011

  • Article / Blog post:
    Bitcoin miners busted? by Darlene Storm in ComputerWorld blog
    “DEA Agent: We thought it was a major grow operation … but this guy had some kind of business involving computers”.
    - http://bit.ly/l8hhRP
  • New site: TheBitcoin.US
    Provides a general overview of Bitcoin with links to the more popular components in several categories.
    - http://thebitcoin.us
    - http://en.bitcoin.it/wiki/TheBitcoin.us
  • Video:
    Twenty four rigs, 130 amps, custom exhaust hood - represents about 1% of the entire total of all mining occuring today.
    - http://www.youtube.com/watch?v=G5f_e4P6gMA
  • Article / Blog post:
    Report: Police Confuse Bitcoin Miner’s Power Use for Growing Weed by Jerry Brito (@JerryBrito) in TIME TechLand blog
    “Ubiquitous prosumer computing could well lead to false positives, not just for Bitcoin miners, but for hardcore gamers, [and others]”.
    - http://ti.me/iD8oIQ
  • Article / Blog post:
    Bit Players in The Daily online e-paper
    “It’s going to be somewhat difficult to convince people to leave ‘the dollar ecosystem’”.
    - http://www.thedaily.com/page/2011/05/23/052311-apps-technews-bitcoins-1-2/
  • New site and service: BTCRate.com
    Provides currency conversion between Bitcoin and other world currencies.
    - http://www.btcrate.com
    - http://en.bitcoin.it/wiki/BTCRate.com
  • Article / Blog post:
    Upcoming Changes For Mt. Gox in Bitcoin Money
    “Development and testing effort has been underway at Mt. Gox. An update is targeted for being rolled out at the beginning of June”.
    What’s coming: New currencies EUR, JPY. Iceberg orders. Full decimal trading. & More.
    - http://www.bitcoinmoney.com/post/5765886176
  • New feature: YouTipIt
    YouTipIt escrow tipits to any Facebook User.
    - http://www.youtipit.org
    - http://en.bitcoin.it/wiki/YouTipIt#Escrow_Tipit
  • New website: Bitcoin Prices
    Provides exchange rates for bitcoins versus multiple foreign currencies.
    Choose from any of several exchange markets.
    - http://bitcoinprices.com
    - http://en.bitcoin.it/wiki/Bitcoin_Prices
  • Magazine: The Bitcoin Sun (2nd edition)
    ‘Specupreneurs’ and the Bitcoin Economy by Matt Crop
    “We [Bitcoin business entrepreneurs] double as speculators, since we willingly expose ourselves to the risk of the erosion of those profits by a decline in the value of Bitcoin in exchange for the opportunity to realize large gains should the currency appreciate.”
    The Bitcoin Island by Ploum
    The forum is full of people asking why they do not get any bitcoins. Sadly, most of the answers they receive explained them how to build mining rigs with expensive hardware, how to join pools”.
    Bitcoin, The Darknet Economy, And the Low Over-Head Revolution by Kevin Carson
    ”Despite my reservations, I consider Bit-coin to be grounds for enormous excitement”.
    Rain Droplet Interview by Matt Cropp
    “Our biggest accounts and most involved participants are Bitcoin users, and much of our feedback and new traffic come from the Bitcoin community”.
    - http://www.bitcoinservice.co.uk/files/877 (click reload page after visiting to get download)
  • Article / Blog Post
    Will Mining Bring The Police? in Bitcoin Miner
    “Looking only at the electric usage for the residence the consumption will look not much unlike the usage for a marijuana grow-op”.
    “[A Mission, BC bylaw allows police to] search people’s homes for grow ops if they are using more than 93 kWh of electricity per day”.
    -  http://www.bitcoinminer.com/post/5762837023



Have a news tip, suggestion or comment?
  http://www.bitcoinnews.com/submit

Current week (updated throughout each day):
  http://www.bitcoinnews.com   (RSS) (mobile) (email)

Previous summaries:
  http://www.bitcoinnews.com/archive  Follow on Twitter: @BitcoinNews

Each day I will post a reply with the previous day's summary, and will update this specific post to include each daily summary as well.
Bitcoin Forum>Bitcoin>Bitcoin Discussion
Jump to: