19.11
Unknown
I don't normally like to make predictions, but... (click images to enlarge):
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Selasa, 29 Mei 2012
Minggu, 27 Mei 2012
Enter the Dragon: BTCChina's Volume and Exchange Rate Suddenly Explode Higher
The Bitcoin community has been abuzz over the last 48 hours as trading activity on the only Chinese Bitcoin exchange, BTCChina, has gone stratospheric, with volume 700% above the norm and prices skyrocketing more than 10% higher than the Mt.Gox exchange rate.
Traders on the Chinese exchange are showing no signs of relenting, with 7698 BTC traded yesterday and 8495 BTC already traded today. The last trade was for 35.8 RMB or $5.64 USD, significantly greater than the $5.12 rate on Mt.Gox. With this activity, BTCChina has, at least for the moment, thrust itself into position as the second largest Bitcoin exchange.
Possibly related, earlier this month, Roger Ver (memorydealers.com) and Yifu Guo (BitSyncom) organized a Bitcoin meeting in China. With only 24 hours notice, over 30 people showed up to learn about and discuss applications for Bitcoin, including opening an exchange in Macau to facilitate the movement of currency to and from "China's Las Vegas."
Also coming out of Roger and Yifu's visit to China was a contract with a tablet manufacturer to produce a sub-$100 tablet running two Mali-400 processors and sporting a 1200x600 IPS screen. Taking a step toward realizing BitSyncom's Meshnet project, each tablet will run Bitcoin relay node and wallet software. The manufacturer, hearing about Bitcoin for the first time, considered loading all of his tablets with Bitcoin software (over two million per year), which could spawn others to do the same. Expect to see BitSyncom's tablet on the market by the end of the calendar year.
Is the activity on BTC China related to the development of these projects? Hard to say, but hopefully we'll find some answers in the coming days.
Traders on the Chinese exchange are showing no signs of relenting, with 7698 BTC traded yesterday and 8495 BTC already traded today. The last trade was for 35.8 RMB or $5.64 USD, significantly greater than the $5.12 rate on Mt.Gox. With this activity, BTCChina has, at least for the moment, thrust itself into position as the second largest Bitcoin exchange.
Possibly related, earlier this month, Roger Ver (memorydealers.com) and Yifu Guo (BitSyncom) organized a Bitcoin meeting in China. With only 24 hours notice, over 30 people showed up to learn about and discuss applications for Bitcoin, including opening an exchange in Macau to facilitate the movement of currency to and from "China's Las Vegas."
Also coming out of Roger and Yifu's visit to China was a contract with a tablet manufacturer to produce a sub-$100 tablet running two Mali-400 processors and sporting a 1200x600 IPS screen. Taking a step toward realizing BitSyncom's Meshnet project, each tablet will run Bitcoin relay node and wallet software. The manufacturer, hearing about Bitcoin for the first time, considered loading all of his tablets with Bitcoin software (over two million per year), which could spawn others to do the same. Expect to see BitSyncom's tablet on the market by the end of the calendar year.
Is the activity on BTC China related to the development of these projects? Hard to say, but hopefully we'll find some answers in the coming days.
Sabtu, 26 Mei 2012
Bitcoin's Liquidity: A Third Look
Back in November 2011, I wrote about Bitcoin's liquidity, and how it had improved from six weeks prior. Let's take a look at how we're doing, six months since:
On October 16th, a $50,000 purchase would have moved the price from $3.40 to $3.92, a 15.3% increase. A sale of $50,000 worth of Bitcoins would have taken the price down to $3.03, or a 10.9% drop.
On November 27th, a $50,000 purchase of Bitcoins on Mt.Gox would have moved the price from $2.46 to $2.60, a 5.7% increase. A sale of $50,000 worth of Bitcoins would have taken the price down to $2.30, or a 6.5% drop.
So, how is it looking now?
The market is looking considerably more stable. Today, a $50,000 purchase would only move the price from $5.11 to $5.16, a 1% increase, and a sale of $50,000 would drop the price to $5.06, also a 1% move.
In the last seven months, the Bitcoin market has clearly matured significantly, making it increasingly stable and usable as a currency; something many merchants have been waiting for before deciding to accept Bitcoin. Hopefully this will translate into wider acceptance and growth of the economy.
On October 16th, a $50,000 purchase would have moved the price from $3.40 to $3.92, a 15.3% increase. A sale of $50,000 worth of Bitcoins would have taken the price down to $3.03, or a 10.9% drop.
On November 27th, a $50,000 purchase of Bitcoins on Mt.Gox would have moved the price from $2.46 to $2.60, a 5.7% increase. A sale of $50,000 worth of Bitcoins would have taken the price down to $2.30, or a 6.5% drop.
So, how is it looking now?
The market is looking considerably more stable. Today, a $50,000 purchase would only move the price from $5.11 to $5.16, a 1% increase, and a sale of $50,000 would drop the price to $5.06, also a 1% move.
In the last seven months, the Bitcoin market has clearly matured significantly, making it increasingly stable and usable as a currency; something many merchants have been waiting for before deciding to accept Bitcoin. Hopefully this will translate into wider acceptance and growth of the economy.
Jumat, 18 Mei 2012
Bitcoin's Hogwarts: San Francisco Tech Space "20Mission" to Open in August
Jered Kenna, formerly of TradeHill, and Jonathan Ryan Owens of RingCoin have teamed up to launch 20Mission, a huge 41-room tech space project in the heart of San Francisco.
The goal is to open 20Mission to tenants on the 1st of August. Finding tenants will apparently not be a problem, as the reservation list has grown quite long, with prospective tenants even stopping Jared on the street to get in on the action.
Kenna and Owens are hoping the space will produce a wide array of successful projects, most of which will be focused on Bitcoin-related businesses, though the space isn't being advertised as "Bitcoin-only." No doubt, having this much talent concentrated and living in a small space will streamline the development process and encourage the type of brain-storming that could produce exceptional ideas.
In this three-minute video, Jered Kenna takes us for a tour and explains the idea behind 20Mission, including who the building is geared toward, what the spaces will look like, and his crazy plans for the roof:
The goal is to open 20Mission to tenants on the 1st of August. Finding tenants will apparently not be a problem, as the reservation list has grown quite long, with prospective tenants even stopping Jared on the street to get in on the action.
Kenna and Owens are hoping the space will produce a wide array of successful projects, most of which will be focused on Bitcoin-related businesses, though the space isn't being advertised as "Bitcoin-only." No doubt, having this much talent concentrated and living in a small space will streamline the development process and encourage the type of brain-storming that could produce exceptional ideas.
In this three-minute video, Jered Kenna takes us for a tour and explains the idea behind 20Mission, including who the building is geared toward, what the spaces will look like, and his crazy plans for the roof:
Minggu, 13 Mei 2012
GLBSE Valuations, 13 May 2012
This is a snapshot of the valuation of each security on GLBSE with at least 1000 BTC in total volume traded (excluding Pirate bonds, as they are temporary), as of 0700 PDT (UTC-7), May 13th 2012:
| Asset | 24hr Avg | Issued | Private | Valuation (BTC) | Valuation (USD) |
| ZIP.A | 0.784 | 10000 | 40000 | 39200 | $195,020 |
| GIGAMINING | 1.499 | 20000 | 0 | 29980 | $149,151 |
| BITBOND | 0.648 | 41000 | 0 | 26568 | $132,176 |
| TYGRR-BOT | 1.05 | 10000 | 0 | 10500 | $52,238 |
| MU | 0.8 | 10000 | 0 | 8000 | $39,800 |
| TYGRR-BANK | 0.113 | 50000 | 0 | 5650 | $28,109 |
| PUREMINING | 0.453 | 10000 | 0 | 4530 | $22,537 |
| COGNITIVE | 0.529 | 5000 | 0 | 2645 | $13,159 |
| TEEK.B | 1.04 | 2000 | 0 | 2080 | $10,348 |
| YABMC | 0.304 | 5000 | 0 | 1520 | $7,562 |
Bitcoinica's Founder to Cease All Involvement with Bitcoin
Hot on the heels of a major hack at Bitcoinica, Zhou Tong, the founder of Bitcoin's most successful Bitcoin project to date, has just announced that he will no longer involve himself in any Bitcoin-related projects:
In his announcement, he also revealed that Bitcoinica was actually sold in November of 2011, with the official handover happening in January of this year.
Not surprisingly, he will be moving on to pursue other projects:
Zhou Tong, a 17 year-old developer from Singapore, took the Bitcoin community by storm by creating the first advanced trading platform for Bitcoin. Several security incidents eventually pushed the site to the brink, the most recent being a $90,000 USD theft on May 11th. The site currently remains offline.
"I, Zhou Tong... will discontinue all involvement in Bitcoin-related projects after the Bitcoinica incident has been fully resolved until further notice. I failed at one thing... that is generating value for the society. Bitcoinica did create a place for people to trade more efficiently and provide liquidity to the market. However, speculation is a zero-sum game (or negative-sum, strictly saying). I know there can be many justifications for Bitcoinica's value, but all of them are against my intuition and values."
In his announcement, he also revealed that Bitcoinica was actually sold in November of 2011, with the official handover happening in January of this year.
Not surprisingly, he will be moving on to pursue other projects:
"I have started working on another project (not Bitcoin-related) that is going to make a little difference on the Internet. So far I have achieved great progress and I'm pretty confident about this new venture."
Zhou Tong, a 17 year-old developer from Singapore, took the Bitcoin community by storm by creating the first advanced trading platform for Bitcoin. Several security incidents eventually pushed the site to the brink, the most recent being a $90,000 USD theft on May 11th. The site currently remains offline.
Sabtu, 12 Mei 2012
Upcoming GLBSE IPOs - A Review
ZETA-MINING 2012-05-13 @ 18:00:00 (GMT-4)
Yet another mining operation. You will likely receive predictable but small dividends if you invest in Zeta Mining (1 MH/share).
REBATE 2012-05-14 @ 23:18:35
This is definitely the most interesting of the upcoming offerings. Bitcoin Rebate is described as "a blend of penny auctions and arbitrage. Users bid on blocks of Bitcoin (powered by ZipConf) arbitrage opportunities against other players."
The concept of buying more Bitcoins for less Bitcoins might seem like a strange one, but it works if you understand the arbitrage going on behind the scenes. I suspect this will be a very popular and profitable site, at least until the arbitrage space gets a little more crowded and margins fall.
Half of the business is up for grabs (25,000 shares with each earning 1/50,000 of the fees collected by the service). Priced at 0.2 BTC each, this gives Bitcoin Rebate an initial valuation of $50,000 USD).
GOLD 2012-06-05 @ 18:00:00
This "gold bond" (not the stuff you put on your nuts) gives you the privilege of lending your BTC to the owner of the gold so that he can invest the money is his personal business. The gold is essentially acting as collateral, and bond holders will be paid a dividend of 0.73% of their investment on a weekly basis. Definitely an interesting way to secure a Bitcoin loan and a new way of using GLBSE.
SILVER 2012-06-05 @ 18:00:00
Same as the gold bond, but silver.
BITCOIN 2012-05-22 @ 22:00:00
PROPERTY 2012-06-08 @ 08:00:00
CASINO 2012-06-08 @ 18:18:00
INSURANCE 2012-06-18 @ 18:00:00
PENSION 2012-06-22 @ 18:00:00
These five are nothing more than someone reserving ticker names in the hopes that they can be sold off in the future.
Happy investing!
Yet another mining operation. You will likely receive predictable but small dividends if you invest in Zeta Mining (1 MH/share).
REBATE 2012-05-14 @ 23:18:35
This is definitely the most interesting of the upcoming offerings. Bitcoin Rebate is described as "a blend of penny auctions and arbitrage. Users bid on blocks of Bitcoin (powered by ZipConf) arbitrage opportunities against other players."
The concept of buying more Bitcoins for less Bitcoins might seem like a strange one, but it works if you understand the arbitrage going on behind the scenes. I suspect this will be a very popular and profitable site, at least until the arbitrage space gets a little more crowded and margins fall.
Half of the business is up for grabs (25,000 shares with each earning 1/50,000 of the fees collected by the service). Priced at 0.2 BTC each, this gives Bitcoin Rebate an initial valuation of $50,000 USD).
GOLD 2012-06-05 @ 18:00:00
This "gold bond" (not the stuff you put on your nuts) gives you the privilege of lending your BTC to the owner of the gold so that he can invest the money is his personal business. The gold is essentially acting as collateral, and bond holders will be paid a dividend of 0.73% of their investment on a weekly basis. Definitely an interesting way to secure a Bitcoin loan and a new way of using GLBSE.
SILVER 2012-06-05 @ 18:00:00
Same as the gold bond, but silver.
BITCOIN 2012-05-22 @ 22:00:00
PROPERTY 2012-06-08 @ 08:00:00
CASINO 2012-06-08 @ 18:18:00
INSURANCE 2012-06-18 @ 18:00:00
PENSION 2012-06-22 @ 18:00:00
These five are nothing more than someone reserving ticker names in the hopes that they can be sold off in the future.
Happy investing!
