By Rawiya Kameir, complex.com
A Native American nation is turning to cryptocurrency as a means through which to assert its sovereignty and encourage its members to keep their money circulating within the community, the Verge reports. Modelled after Bitcoin, Mazacoin will be the official currency of the Lakota nation’s seven bands, explained coder and activist Payu Harris during an appearance at the Bitcoin Center.
But it won’t be easy and government pushback is expected, Chase Iron Eyes, who is the Lakota’s legal counsel in South Dakota, told the Verge.
“There hasn’t been a tribal nation that has declared its own currency and has mandated that that currency is used within its borders,” Iron Eyes said. “But it’s because of this pervasive, ever-present asserted dominion of the United States. They’ll try to shut us down, try to cite us with law violations.”
By Bitcoin PR Buzz Feed, bitcoinprbuzz.com
Tradcom South America’s Butter-Bot Bitcoin trading robot which launched in early 2013 is now adding Litecoin support, and the company is currently developing a hosted version and alternative strategy modules. Subscribers can now apply automated bot trading to the Litecoin market. Butter-Bot currently supports Bitcoin trading on BitStamp and BTC-e using the proven EMA based trading algorithm. The trading bot is backed by a professional company, experienced developers and a reliable support team, and makes automated trading accessible to newcomers and professionals alike.
Butter-Bot is already known for being user friendly. Installation is an easy one click process supporting Windows, Linux and Mac operating systems. The hosted version which is currently under development will eliminate the installation step altogether. Users then set their API credentials and Butter-Bot goes to work trading automatically.
By Caleb Chen, cryptocoinsnews.com
What Is Huntercoin?
Huntercoin is a new altcoin that released at the beginning of February to little fanfare. Huntercoin is based off of Namecoin and utilized a dual proof-of-work algorithm to process Huntercoin transactions with both SHA and Scrypt devices. Huntercoin is meant to be merged mined with other altcoins and should be immune to fluctuations in hardware efficiency.
That isn’t even the most interesting part about Huntercoin mining. Huntercoin blocks are 1 minute long, and every block releases 10 Huntercoins. 1 HUC goes to the miners each block, and 8.75 is distributed on the Huntercoin map. The remaining 0.25 HUC goes to whichever Hunter has the crown. The traditional mining scheme has been turned on its head by Huntercoin. For the first time since the earliest days of Bitcoin, any individual can mine meaningful amounts of crypto without dedicated hardware.
Furthermore, Huntercoin is the world’s first MMO game that is decentralized and cannot be taken down, or censored, by any government or rating agency.
By Lily Hay Newman, slate.com
Future Tense covers a lot of cryptocurrency news because the topics are interesting but also complicated. It’s hard to know exactly what the implications of cryptocurrency are and who should be using it, if anyone. But keep in mind that the code that underlies bitcoin, the world’s biggest and oldest cryptocurrency, is open source. That means that “altcoins” can use the bitcoin code as a jumping-off point to develop their own currencies. To figure out what it takes to start a cryptocurrency, the staff of the tech blog Ars Technica started arscoin.
Business editor Cyrus Farivar led the initiative. He writes, “As the new year began, I found myself writing about several new (and often ridiculous) altcoins … It got me thinking: if anyone can just up and create a new altcoin, how hard can it be?” Because it’s for education, the arscoin system is locked down so people can’t exchange arscoins for goods outside Ars Technica channels. But they can use them to buy things like colorful usernames on the Ars site or digital username hats. You also pay to change or remove your username color or hat.
By Jerry Thomas, prweb.com
The premise behind 42 Coin is its rarity with only 42 coins to ever be created, anyone with a computer can easily join the network to start mining, accepting and sending 42 coin payments for personal or business reasons.
42 Coin is similar to Bitcoin with its financial system and user friendly features that allows users to send and receive coins with anyone in the world using digital addresses created by the Network. In fact, anyone with a computer can begin sending and receiving coins without using a financial institution, and without paying for transaction fees. In addition, this crypto currency is 12x faster than Bitcoin and other Alternative Currencies because it only takes 42 seconds to confirm any payments, this brings ease to both senders and receivers providing reassurance that transactions have been successful. Transaction time has been a known issue with Bitcoin, which could take 15 minutes or even hours before a transaction is complete; however, 42 coin has solved that exact problem by keeping a 42 second confirmation time.
By Jan Vermeulen, mybroadband.co.za
The Cypherfunks is a new digital currency and online music experiment that wants to find out what would happen if a loose online collective like Anonymous, a virtual band like Gorillaz, and a cryptographic currency like Bitcoin had a love child.
Founded by Simon de la Rouviere from Stellenbosch, South Africa, the Cypherfunks cryptocurrency is described as a “scrypt coin”, while the idea behind the musical arm is to create a music collective anyone can be part of.
De la Rouviere said that the idea for Cypherfunks originated 3 years ago from a skit performed by South Africans that imitated being local band “Fokofpolisiekar”.
“They actually claimed being the band, and not a cover band,” de la Rouviere said. “It was an interesting idea.”
By Serdar Yegulalp, infoworld.com
With bitcoin mining out of reach for all but a small, self-selecting crew of those willing to throw thousands of dollars at custom ASICs, crypto currency buffs are turning their attention toward other coinages that can be mined on desktop GPUs. But that rush of attention has created a problem for gamers and video card makers: a short-term graphics card shortage.
ExtremeTech has reported that miners of litecoin, an alternative to bitcoin with far less egregious computational demands needed to produce the coins, have just about cleaned the shelves of high-end AMD-powered video cards.
Why the rush for AMD cards? AMD’s Radeon GPU chip set is apparently better-suited for the number crunching used in coin mining than the GPUs of competitor Nvidia, which also work, though not as well. Since November, the litecoin hash rate — the amount of coin-mining activity taking place in the litecoin network — has more than doubled. (Crypto currencies, litecoin included, are generally designed to be more difficult to mine as time goes on.)
By Mike James, i-programmer.info
What a waste of effort bitcoin mining is -all that computer time just to validate transactions! Riecoin is a new crypto currency that uses a search for prime constellations as its proof of work.
Bitcoin, being open source is fairly easy to fork to create new crypto currencies. The big problem is not in the engineering, but in getting anyone to take them seriously enough for them to have a value.
Riecoin increases its chance of success by making the proof of work algorithm do something useful – well useful if you care about the Riemann hypothesis or the Hardy-Littlewood k-tuple conjectures.
By Andrew Cunningham, arstechnica.com
A few weeks ago, when our own “Arscoin” cryptocurrency was first minted, it looked like Senior Reviews Editor Lee Hutchinson would control the majority of the coins. He started mining early, and he has a crowd of Linux servers sitting in his closet that can outrun the all-in-one desktops and power-sipping Ultrabooks most of us have on hand.
When our little experiment began, I knew enough about Bitcoin and Litecoin mining to know that there are more efficient ways to rack up coins than using the default miner, but I had never actually mined either of those currencies myself. Coingen.io, which we used to produce the Arscoin code, provides no explicit documentation and little post-creation support for newly minted cryptocurrencies, so it was up to me to feel my way forward. I couldn’t out-muscle Lee’s closet full of computers, but I’ve worked with him for long enough to know that I could outsmart him. (See me after class, Mr. Cunningham. -Ed.)
By Alex Hern, theguardian.com
A student at London’s Imperial College has been using his university’s computers to mine Dogecoin, the meme-based cryptocurrency.
According to the bitcoin news site Coindesk, the anonymous student has been accessing Imperial’s computer lab every evening and setting the computers to work, using their processing power to run the algorithms that bring new Dogecoins into existence.
“I’ve not had a single issue yet,” he told Coindesk’s Kadhim Shubber, “so I’ve kept scaling up! It seems they don’t have anything set up to bring attention to the fact I’m maxing out the CPUs, which is nice.”
By Meghan Neal, motherboard.vice.com
One month ago, Icelandic programmer Baldur Friggjar Odinsson revealed his plan to give each one of Iceland’s 330,000 citizens a handful of Auroracoin—an altcoin he created in the hopes of establishing an alternate crypto-economy to break the shackles of the Icelandic government’s strict financial policies.
It’s a novel idea, the first of its kind, and one that apparently a lot of people believed could actually work: Over the last three weeks the currency starting gaining value at a rapid clip, and as of this morning had skyrocketed to a $1 billion market cap—making it the third-largest cryptocurrency on the market, far bigger than Litecoin, the “silver to Bitcoin’s gold.” (Bitcoin’s at $8.5 billion.)
By Chandra Steele, itproportal.com
The vaults of MtGox are empty and there is dissension among its coin holders. As the world’s biggest Bitcoin exchange files for bankruptcy in Japan, there are still those who believe in Bitcoin and other cryptocurrencies.
Part of their appeal lies in just what makes them risky. Cryptocurrencies are unregulated and instead of working for money, as is the case in a capitalist system, currency is generated and exchanged via cryptography. The currency is also untraceable, which made it great for illegal exchanges on the Silk Road, but also means that the $62 billion (£37 billion) that disappeared from MtGox might never be recovered.
MtGox is an object lesson in the fact that while it can take a long time to mine a unit of a cryptocurrency, it doesn’t take long at all for an entire exchange to disappear. If you had MMM Coin, you probably don’t have enough of them to rub together to get so much as a cup of coffee. Some cryptocurrencies seemed decidedly more recreational, like Beertokens and Weeds. And while the name MtGox instils a sense that physical Bitcoins just might be kept in some difficult-to-reach hollowed-out mountain vault, let’s remember that MtGox stands for Magic the Gathering Online Exchange – that’s right, it was a trading-card exchange.
By John Biggs, Techcrunch.com
Iceland has its own Satoshi. A programmer called Baldur Friggjar Odinsson has created an alternative to bitcoin that he is calling AuroraCoin and in twenty-three days he will “airdrop” 31.8 coins to every citizen of Iceland – all 330,000 of them.
It is, in short, a pretty ballsy move.
Aurouracoin (AUR) will work just like bitcoin and it’s already surprisingly popular. It’s worth $15 per coin and at launch 21 million AUR will be made available to all of Iceland’s citizens. They will use their private ID numbers to check in and receive their coins. Mining is performed through proof-of-work operations, just like bitcoin.
This Cryptocurrency review will have the excitement phrase for Dogecoin “to the moon” the cryptocurrency that’s hitting the headlines as of late..
I decided that I wanted to get into the cryptocurrency game asap however, it wasn’t going to be with the well-known Bitcoin. A whole lot of tens of millions of bucks are flowing into it. It’s surely the most desirable digital coin.
On a daily basis a brand new industry begins accepting this type of foreign money for payment. That’s nice because it legitimizes it…For me although, I’m on this exercise to become profitable and Bitcoin will not be the place I’m placing my efforts.
By Matthew Sparkes, telegraph.co.uk
A new crypto-currency in the style of bitcoin has been adopted as the official reserve currency of the Oglala Lakota Nation.
The Lakota people are indigenous to parts of North and South Dakota and are made up of a confederation of seven Sioux tribes, with notable members including Sitting Bull and Crazy Horse, who defeated Custer at the Battle of Little Bighorn.
They now live in a semi-autonomous “nation” within the United States. This frees them to diverge from US law to a certain extent – some tribes have legal gambling operations, for example – but they remain overseen by the US Congress.
Developer and Lakota member Payu Harris has now developed a new digital currency called MazaCoin, based on the existing ZetaCoin protocol, and convinced chiefs to adopt it as the official national currency.
By Ryan W. Neal, ibtimes.com
It seems like new cryptocurrencies are popping up every day. Sure, everyone knows Bitcoin, but there is also Litecoin, the joke Dogecoin and several others.
Well now the recording industry has its own cryptocurrency called Songcoin. Pimovi, a media and entertainment company, partnered with one of the architects of Namecoin and they plan to release Songcoin next week for use within the music business.
Pimovi’s chief technology officer, Kasian Franks, said in an interview with Evolver.fm (which was republished by Billboard) that Songcoin will be used to lower fees on transactions and international wires within the industry. To differentiate Songcoin from other cryptocurrencies, Pimovi said it will offer plenty of discounts that cater to musicians and fans. For example, Pimovi wants to work with ticket vendors to give fans that use Songcoin and cheaper rate.
GamersGoneTech Published on 16 December 2013
16 December 2013 | By Nermin Hajdarbegovic | Coindesk.com
Bitcoin mining on a standard GPU is a thing of the past. Put simply: it’s no longer economically viable, given the power consumption of discrete graphics cards and their relatively high price.
ASICs are a no-brainer when it comes to bitcoin, however litecoin is a different story.
Unlike its counterpart, litecoin can still be mined using off-the-shelf hardware, namely via AMD Radeon graphics cards. There aren’t that many alternatives, either. There are still no ASIC products for Scrypt, litecoin’s algorithm, and this will not change for the next few months at least.
16 December 2013 | By PJ Radcliffe | businessspectator.com.au
The cryptocurrency Bitcoin has been in the news lately with a sudden surge in value followed by a spectacular crash – not to mention the unfortunate tale of US$4 million in bitcoin on a hard drive that was accidentally dumped in a rubbish tip.
Bitcoin was the first widely used cryptocurrency, but few people know it is not the only one. So how do the top five cryptocurrencies by capitalisation compare?
16 December 2013 | By HackMiami Information Desk | prweb.com
BitcoinIntel analysts advise cryptocommodity investors to keep their eyes on Feathercoin (FTC) over the next month, as the altcoin has been quietly gaining traction and swelling in value on major exchanges such as BTC-E.com.
While the market rates of crypto-to-USD continue to fluctuate with extreme volatility and are subjected to the whims of global events, market fluctuations between crypto-to-crypto commodities are more predictable, less dramatic, and more profitable within shorter periods of time. Traders and automated arbitrage bots have been observed engaging in frequent trades between cryptocommodities, specifically BTC/LTC/FTC. The sole purpose of flipping crypto-to-crypto in this manner is to increase their physical holdings. Many of these investors see cryptocurrency as having significantly more value than USD, and as a result hedge in altcoins like FTC as opposed to USD.
GamersGoneTech Published on 16 December 2013
kiltedcoyote Published on 12 December 2013
kiltedcoyote Published on 12 December 2013
kiltedcoyote Published on 10 December 2013