Steam rolls out a big overhaul that leaves us quite impressed, the FTC goes after Butterfly Labs for scamming their customers, and Chris shares his personal story.

Plus the bugs biting iOS 8 users, 4k TV gets cheaper & much more!

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Show Notes:

Steam Is Getting A Massive Overhaul

The revision—which Valve is calling the Steam Discovery Update and which goes live today—will implement a number of big changes including a revamped recommendations system, a queue in which you can swipe through new games based on what you’ve played and liked before, and a new program called Steam Curators that will allow anyone to take the role of tastemaker, recommending games to the public and accumulating followers based on their tastes.

We have made great efforts to increase the number of titles we can publish on Steam, which means more choices for customers,” Valve UI designer Alden Kroll said in a press release. “This update introduces multiple features and functionality to help customers explore Steam’s growing catalog and find the games they are most interested in playing.”

iOS 8 Users Report Slow Wi-Fi, Battery Drains | News & Opinion

“Wi-Fi problems on iPad Air, iPad mini with Retina display and iPhone 5S after upgrading to iOS 8,” an Apple user wrote in a Saturday post on the Apple forums. “I am thinking about going back to my iPad 2 with iOS 7.1.2 that is working perfectly until the Wi-Fi issues are resolved.”

Wi-Fi woes were not the only thing plaguing iOS 8 users. Others reported battery-drain issues. “My battery drains very fast (100 percent to zero in about 4 hours with minimal usage), started happening right after I upgraded to iOS 8. Issue started happening both on my iPhone 5S and on my iPad Air after iOS 8 upgrade,” one user wrote.

Feds say Bitcoin miner maker Butterfly Labs ran “systematic deception” | Ars Technica

The Federal Trade Commission has filed a civil lawsuit against Butterfly Labs (BFL), an embattled Kansas-based Bitcoin miner manufacturer. The FTC alleges that the company engaged in fraudulent and deceptive practices.

Federal authorities believe that the three named members of the company’s board of directors—Jody Drake (aka Darla Drake), Nasser Ghoseiri, and Sonny Vleisides—spent millions of corporate revenue on all kinds of things, including saunas and guns, while ignoring many customer orders that went unfulfilled or were significantly delayed.

“The FTC alleges that one corporate defendants and three individual defendants have taken in over $50 million by operating a scheme that required consumers to pre-pay for machines that would allow consumers to ‘mine’ for Bitcoins, a new virtual currency,” the complaint states. “Defendants either never delivered these machines or delivered them so late that they became obsolete.”

Vizio takes 4K mainstream with launch of $999.99 P-Series TV | The Verge

Vizio has just announced that the P-Series 4K LED HDTV line we first saw way back at CES is now available. And it starts at only $999.99 for the 50-inch model,

4K content is getting easier to come by, too; Netflix is still your primary source, but its catalog is growing (albeit slowly) and Amazon plans to offer 4K video later this year. Both of those apps can be streamed on the P-Series. The main takeaway is this: 4K TVs aren’t new, but Vizio is here now. And when a $999 4K TV has floor space at Walmart, that’s (hopefully) going to push companies to move even faster in getting 4K movies and TV shows out there.

The post Bitcoin Trolls | Tech Talk Today 63 first appeared on Jupiter Broadcasting.

An organized effort is underway at multiple levels of the US government to investigate, understand, regulate and potentially domesticate Bitcoin. We dig through the details and ponder the future.

Plus the ASIC challenge, the Electrum server outage, and a PSA for Android users.

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• A look inside KnCMiner, bitcoin mining\’s dark horse

• ORSoC and KNCminer are partnering up to develop Bitcoin mining products. » ORSoC –

In our partnership ORSoC will be responsible for product development, including design, production and testing.

Lets Play w/Coins! Send in your favorite online gaming sites that take Crypto currency.

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Every Important Person In Bitcoin Just Got Subpoenaed By New York\’s Financial Regulator

• New York State to investigate \’Wild West\’ Bitcoin industry • The Register

An official told the Associated Press that 22 subpoenas have been issued in all, seeking information on such topics as what measures Bitcoin companies may have taken to prevent money laundering, and what kind of consumer protections might be available for Bitcoin investors.

\”If virtual currencies remain a virtual Wild West for narcotraffickers and other criminals, that would not only threaten our country\’s national security, but also the very existence of the virtual currency industry as a legitimate business enterprise,\” Benjamin Lawsky, who heads the New York Department of Financial Services, said in a memo accompanying the subpoenas on Monday.

• Every Important Person In Bitcoin Just Got Subpoenaed By New York\’s Financial Regulator – Forbes

The New York State Department of Financial Services is stepping into the sheriff\’s boots.

\”We believe that — for a number of reasons — putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry,\” said NYSDFS superintendent Benjamin Lawsky in a statement.

List of companies subpoenaed by the New York State Department of Financial Services

• BitInstant
• BitPay
• Coinabul
• Coinbase Inc.
• CoinLab
• Coinsetter
• Dwolla
• eCoin Cashier
• Payward, Inc.
• TrustCash Holdings Inc.
• ZipZap
• Butterfly Labs
• Andreesen Horowitz
• Bitcoin Opportunity Fund
• Boost VC Bitcoin Fund
• Founders Fund
• Google Ventures
• Lightspeed Venture Partners
• Tribeca Venture Partners
• Tropos Funds
• Union Square Ventures
• Winklevoss Capital Management

Congress appropriations bill directs FBI to launch a federal investigation of Bitcoin as potential means for criminal, terrorist or other illegal activities

• Congress starts looking into Bitcoin

A Senate committee is pressing federal regulators and law enforcement officials to explain how they plan to oversee Bitcoin and other virtual currencies as the issue gains increasing attention from government officials concerned about the role these new markets will play in the future.

The Senate Homeland Security and Government Affairs Committee on Monday sent letters to several agencies requesting that they disclose their virtual currency policies, how they developed them, how agencies are coordinating and finally what they plan to do going forward.

• From the bill (page 45):

Money laundering.–The Committee understands that Bitcoins and other forms of peer-to-peer digital currency are a potential means for criminal, terrorist or other illegal organizations and individuals to illegally launder and transfer money. News reports indicate that Bitcoins may have been used to help finance the flight and activity of fugitives. The Committee directs the FBI, in consultation with the Department and other Federal partners, to provide a briefing no later 120 days after the enactment of this Act on the nature and scale of the risk posed by such ersatz currency, both in financing illegal enterprises and in undermining financial institutions. The briefing should describe the FBI efforts in the context of a coordinated Federal response to this challenge, and identify staffing and other resources devoted to this effort.

• CRPT-113hrpt171.pdf

• Crypto-currency for NSA leaker: Snowden fund accepts Bitcoin — RT News

The Journalistic Source Protection Defence Fund (JSPD) was set up on August 9 with the goal to provide legal as well as campaign aid to journalistic sources. Snowden, who is behind the biggest intelligence leak in the history of the US National Security Agency (NSA), has been selected the first such source.

Android Security Flaw Puts Bitcoin Wallets at Risk

• 55 BTC Stolen Through Security Vulnerability in Android Bitcoin Wallets

SecureRandom is a Java class that generates cryptographically strong random numbers. In order to remain secure the random numbers used to generate private keys must be nondeterministic, meaning that the output of the generator cannot be predicted. Mike Hearn stated in an email to bitcoin developers regarding the Secure Random class on android, \”Android phones/tablets are weak and some signatures have been observed to have colliding R values, allowing the private key to be solved and money to be stolen.\” Bitcoin uses a random number in transaction signatures and if the same random number is reused the private key of the wallet can be determined.

Before the announcement was made, users on the bitcointalk.org forums had noticed over 55 BTC were stolen a few hours after the client improperly signed a transaction using the compromised random number generator. Users observed SecureRandom re-using the same random numbers for multiple transactions, thus compromising the private keys.

• 55 BTC Stolen Through Security Vulnerability in Android Bitcoin Wallets

There are two types of mobile wallets, those where the private keys are generated locally on the phone, and those where private keys are held by a private company. Android wallet apps where keys are generated on the device include: Bitcoin Wallet, BitcoinSpinner, Mycellium Wallet, and Blockchain.info. Blockchain.info has already repaired the vulnerability, Bitcoin Wallet has an update in beta testing, and fixes for BitcoinSpinner and Mycellium are currently in development.

• 55 BTC Stolen Through Security Vulnerability in Android Bitcoin Wallets – The Genesis Block

The announcement on bitcoin.org identified a three step process to secure existing addresses on all other apps:

1. Generate a new address on a secure random number generator.
2. Transfer all existing bitcoins to the new address. Do not send any bitcoins from this address using an Android device until the updates are implemented
3. Notify any users of your old address of the change, so that the compromised address does not receive any more bitcoins.

• Electrum Server Issues

Bitcoin Pick

• Just got 10 Block Erupters and ROI doesn\’t look good

• Mining Dashboard – The Genesis Block

• Bitcoin Difficulty.COM
• Bitcoin Difficulty Profitability Decline Calculator

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The post US vs Bitcoin Revolution | Plan B 19 first appeared on Jupiter Broadcasting.

A series of events kick off this week that lay the foundation for a very productive Bitcoin summer, plus a popular Bitcoin gambling site sells for a record breaking amount, a Bitcoin Ponzi scheme is busted, your emails of the week, and a few surprises!

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• Bitcoin Credit Score

• Bitcoin’s Deflation

• Voicemail

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• Raspberry Pi: USB Block Erupter Mining

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Stossel discusses the gold standard and bitcoin

• Bring Back a Gold Standard? | Fox Business Video

Economist Ben Powell and Laissez Faire Books executive editor Jeff Tucker on investing in gold and the bitcoin

SatoshiDice sells for 126,315 BTC

• Bitcoin company acquisitions begin: SatoshiDice sells for $11.5m

Blockchain-based betting game SatoshiDice has been sold for 126,315 BTC, which at the time of writing was worth around $11.47 million.

SEC Charges Texas Man in Bitcoin Ponzi Scheme

• SEC Charges Operator of Bitcoin Savings and Trust with Fraud

The SEC charged Shavers with violating the Securities Act of 1933 for unlawfully selling unregistered securities, as well as intentionally misleading and defrauding investors. Their alert provides an overview of Ponzi schemes — a fund that pays earlier investors with new investors\’ money, often promising returns far exceeding alternative opportunities. The SEC document also explains that virtual currencies may be seen as especially attractive to those looking to conduct fraud as a result of the perceived ability to remain anonymous. Importantly, the filing also notes, \”Any investment in securities in the United states remains subject to the jurisdiction of the seC regardless of whether the investment is made in U.S. dollars or a virtual currency.\”

• SEC.gov | SEC Charges Texas Man With Running Bitcoin-Denominated Ponzi Scheme

The Securities and Exchange Commission today charged a Texas man and his company with defrauding investors in a Ponzi scheme involving Bitcoin, a virtual currency traded on online exchanges for conventional currencies like the U.S. dollar or used to purchase goods or services online.

The SEC alleges that Shavers promised investors up to 7 percent weekly interest based on BTCST’s Bitcoin market arbitrage activity, which supposedly included selling to individuals who wished to buy Bitcoin “off the radar” in quick fashion or large quantities. In reality, BTCST was a sham and a Ponzi scheme in which Shavers used Bitcoin from new investors to make purported interest payments and cover investor withdrawals on outstanding BTCST investments.

Shavers also diverted investors’ Bitcoin for day trading in his account on a Bitcoin currency exchange, and exchanged investors’ Bitcoin for U.S. dollars to pay his personal expenses.

The SEC issued an investor alert today warning investors about the dangers of potential investment scams involving virtual currencies promoted through the Internet.

“Fraudsters are not beyond the reach of the SEC just because they use Bitcoin or another virtual currency to mislead investors and violate the federal securities laws,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office.

• SEC investor alert PDF… Ponzi Schemes using Virtual Currencies

The Movie by Project Bitcoin

• Bitcoin: The Movie by Project Bitcoin — Kickstarter

A documentary about the socioeconomic impact that Bitcoin is making around the world. Comprised of interviews from global Bitcoin users

Bitcoin Pick

• LocalBitcoins.com: Fastest and easiest way to buy and sell bitcoins
• Satoshi Square

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The post Summer of Bitcoin | Plan B 16 first appeared on Jupiter Broadcasting.

Regulation and compliance, just the very words make many wince in pain. But the bitcoin elite agree, from the core developers to the Bitcoin entrepreneurs, the only way forward is through regulation. We’ll tackle this topic, and discuss the long-term goals.

Plus Drew reviews his USB ASIC Block Erupters, malware on ListenToBitcoin.com, your emails, and more!

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• Convincing Someone to Invest

• Theorizing on the Gov’t & Bitcoin

• Economic Fate and Bitcoin

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• Mining Bitcoins on 3x USB ASIC Block Erupters

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Listen to Bitcoin Sold, Site now has Malware

• Listen to Bitcoin contains malware!

The Compliance Stage

• For Bitcoin VCs, There’s No Sexier Word Than “Compliance” – Jason Del Rey – Commerce – AllThingsD

\”There are few things scarier than the threat of the government turning off your [portfolio] business and that possibility 100 percent exists with bitcoin,\” said Matthew Witheiler, principal at Flybridge Capital Partners, and one of the four investor panelists at the pitch event. \”The bitcoin companies that win will be the ones that play by the rules.\”

• Bitcoin London 2013: Panel session – The rising stars of the Bitcoin start-up ecosystem – YouTube

A lively discussion involving some of the hottest entrepreneurs from the Bitcoin start-up scene. Panelists include Erik Vorhees, Coinapult, Nejc Kodric, Bitstamp, Jeremias Kangas, Localbitcoins.com, Jered Kenna, Tradehill, Pelle Braendgaard, Co-founder, Kipochi. The panel is moderated by Isaac Kato, Co-founder, Verne Global

• Bitcoin developer Jeff Garzik on altcoins, ASICs and bitcoin usability

\”It\’s a fantastically good thing,\” he says. \”Experimentation is wonderful. It\’s been disappointing that the overwhelming majority of altcoins have been pump and dumps or premine-type schemes.\” he calls that the first generation of coins, but thinks that the landscape for altcoins is maturing.

Coinbase Launches Instant Bitcoin Purchase

• Coinbase Makes Instant Bitcoin Purchases Possible With Connected Bank Accounts – The Genesis Block

Coinbase is a San Francisco, USA based company that provides bitcoin wallet and merchant services. They currently support 180,000 customers and have raised over $6M in funding from large name investors including Y Combinator, SV Angel, Start Fund, Union Square Ventures, and Ribbit Capital, among several others. Today Coinbase announced the ability to instantly purchase bitcoins from connected bank account for a 1% fee.

• Coinbase offers new ID checks for heavy, impatient Bitcoin users — but why?

Coinbase co-founder Fred Ehrsam confirmed that this was an anti-money-laundering move, and explained that the extra ID information level 2 users would need to submit include date of birth, address and last four digits of social security number. They also need to answer questions based on information in the public record, such as the color of their last car. This is the same kind of verification procedure attached to opening a new brokerage account or lifting the limits on a PayPal account, he noted.

Bitcoin Pick

• Coined Up – The FREE Crypto-Only Currency Exchange

CoinedUp.com is a FREE crypto-only currency exchange.

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The post Bitcoin Must Comply | Plan B 15 first appeared on Jupiter Broadcasting.

The guys discuss what the heck is going on with the price of Bitcoin, and what you can expect. The cost of running the bitcoin network is coming up against the price of the coin, we’ll discuss how these two elements are coming to a head.

Plus: The big theme from the Bitcoin London conference, the ridiculous anti-Crypto currency rhetoric from the G8 summit, your questions, and more!

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• Difficulty, Altcoins, Mining, etc

• Bitcoin in Germany

• BFL Selling ASIC chips in bulk

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• Bitcoin at the G8 Summit (pg 60)

Written by “John Lyons, chief executive, International Cyber Security Protection Alliance”

As world leaders gather at the G8 summit in Northern Ireland this year, they will be considering and debating some of the most pressing global issues of our time. Those that specialise in the cyberspace arena hope that they will also have time to address the deeply worrying trends that threaten the economic and social benefits that the internet can deliver to humankind.

As highlighted by the latest initiative of the United States to arrest some of the suspects that were involved in Liberty Reserve (a group indicted for money laundering that ran a $6 billion worldwide operation out of Costa Rica), alternative payment mechanisms, such as Bitcoin and a host of others, can enable criminal and terrorist groups to launder money and fund their operations.
Governments around the world could take two measures that would have a significant
and long-lasting effect on the ability of online criminals to secure their ill-gotten gains: 1. Outlaw alternative payment mechanisms for trading currencies online; and 2. Introduce legislation to confiscate the proceeds of online crime.

If treasuries and financial institutions around the world were to block those transactions and permit only legitimate currencies to be used on the internet through regulated payment service providers and cards (such as Visa, MasterCard and American Express), then the flow of many billions of dollars to criminal groups would be stemmed. Furthermore, if those same countries introduced, if necessary, additional legislation to confiscate the proceeds of such online crime, these funds could be either returned to those who had been defrauded or used to fund international projects that could bring about a more safe and secure internet environment for all citizens.

If the leaders of the European Union and United States could be convinced to take a lead on these initiatives, that would be a huge contribution to making the internet a safe place for financial transactions. At the same time, it would also strike a blow against those who would try to destroy the fabric of our the world’s well-being.

• We\’re FUNDED on Kickstarter! Here are the Stretch Goals

It\’s hard to believe, but in less than two weeks, our Kickstarter campaign was funded. We planned this out so we can do a quality documentary, but an increased production budget means a much better film. With our stretch goals, we can span the country and even the globe to talk with the world\’s experts on bitcoin, crypto currency, and currency in general.

Bitcoin London Happening Now:

• Twitter / btclondon: @vessenes 1200 attendees @ …

@vessenes 1200 attendees @ San Jose, 60% members of @BTCFoundation outside US. #metrics for #Bitcoin #btclondon

• Regulation Means The Bitcoin Gold Rush Will Not Happen In The US, Say Experts | TechCrunch

Europe is better positioned as a better place to create Bitcoin-based startups than the US. That was the message coming out of Bitcoin London today, the first major conference in London to cover startups, investors and business models. Covering the broad sweep of businesses, technologists and institutions involved in the Bitcoin space, the conference heard that the US may have made a fatal strategic mistake in classifying Bitcoin as if it were money so early on in its development.

What has emerged is that Bitcoin is being treated in many different ways: as money, as an asset class, as the first highly secure P2P global information exchange, as a technology platform and even as a if it were a startup entity in its own right

• Winklevoss twins work to make Bitcoin more legit with SEC filing | Internet & Media – CNET News

The \”Winklevoss Bitcoin Trust\” aims to give commodity buyers more exposure to Bitcoins. According to Business Insider, the trust will apparently operate like an exchange-traded fund, which is an investment fund that can be traded like a stock.

\”The investment objective of the Trust is for the Shares to reflect the performance of the Blended Bitcoin Price of Bitcoins, less the expenses of the Trust\’s operations,\” the filing reads. \”The Shares are designed for investors seeking a cost-effective and convenient means to gain exposure to Bitcoins with minimal credit risk.\”

• BBC News – Winklevoss twins plan $20m Bitcoin trust fund

The Winklevoss Bitcoin Trust will initially sell $20m (£13m) worth of shares to investors, according to a filing with the US regulators.

• Winklevoss Twins Make Best Case Against Bitcoin Fund – Bloomberg

Their company, Math-Based Asset Services LLC, filed forms with the U.S. Securities and Exchange Commission yesterday.

OMG THE PRICE!!one!!

• Bitcoin Hash Rate
• Bitcoin Mining Operating Margin

• BTC Guild Selling Block Erupter USBs

Litecoin Update:

• Trading in BTC for LTC?

• Receive a notification when Litecoin starts trading on Mt. Gox

Forget about constantly checking news about Litecoin and Mt. Gox. Instead, register your Email and receive a notification when Litecoin starts being traded in Mt. Gox.

• WikiLeaks now has a Litecoin specific section on their donation page

Bitcoin Pick

• Bitcoinium

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The post Blame it on Mt. Gox | Plan B 13 first appeared on Jupiter Broadcasting.

We chat with Jesse Heaslip one of the team members from Bex.io, they aim to provide a end-to-end solution to setup your own Bitcoin exchange. Is the solution to the Gox problem hundreds, or even thousands of small Bitcoin exchanges?

Plus Avalon customers suspect the company of pre-mining with their hardware for weeks, a new and stronger theory on Satoshi Nakamoto’s true identity, the good news for Litecoin, and more!

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If you enjoyed this episode, found value or information from it, please consider contributing using Bitcoin. Each episode gets its own unique Bitcoin address so by tipping you\’re not only making our continued efforts possible but telling us what you liked. Our episode specific address is listed at the bottom of the show notes.

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• ASICs and a 51% attack?

• USB ASICs

• Coinstar Kiosks and Bitcoin

• Namcoin – Building on Bitcoin

• What are Namecoins and .bit domains?

It is based on exactly the same code as Bitcoin. In fact, the two currencies are almost identical. However, in the same way that Bitcoin is a decentralised currency that cannot be shut down; Namecoin is the basis for a decentralised domain name system (DNS), i.e. web URLs, which could put a stop to Internet censorship.

• What have we done with our LTC?

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• Bex.io || Own your own Bitcoin Exchange

We do the tech. You do the rest. Bex removes all the technical complexity of running a Bitcoin Exchange.

• Erik Voorhees – The Role of Bitcoin as Money – Bitcoin 2013 Conference

Erik is a well-known member of the Bitcoin community forum (screen name- evoorhees), and is CEO of Coinapult, based in Panama City. Furthermore, Erik is also a partner in a couple top-secret super-subversive Bitcoin-based projects and coordinates the Free State Bitcoin Consortium group among liberty activists in New Hampshire.

• Erik Voorhees (ErikVoorhees) on Twitter

• Kenya Primed For Wide-Scale Bitcoin Adoption – Thx to Todd for Sending.

One locale stands out as particularly primed for widespread adoption: Kenya. Africa today has one of the fastest growing mobile phone markets in the world with 20% annual growth and 93% of Kenyan households owning mobile phones. What makes Kenya a particularly unique case for bitcoin is that it is also a world leader in mobile payment usage.

• NSA paper, 1996: \”How To Make A Mint: The Cryptography of Anonymous Electronic Cash\”. One referenced crypto expert is named Tatsuaki Okamoto. : Bitcoin

• Comment Thread Has Indications It Could be Satoshi .

Okamoto worked with Adi Shamir (co-creator of RSA) and is proficient in C++.

• Running on Karma–P2P Reputation and Currency Systems – Committee Chair: Tatsuaki Okamoto

• Avalon is officially mining with customers\’ ASICS before delivering them.

• Is Avalon mining with customer hardware? Answer is here.

Today I finally received my units from Feb. 2 order. One unit was almost clean, while other one is moderate dusty. After checking all connections and desoldering F1 fuse, I started to configure units. First unit has been tuned to ozco.in and that is not surprise, cos same config was on my unit from batch one. Second unit has more interesting config:
https://puu.sh/3hrak.png
As you can see, first pool is eligius.st and most important is address: https://blockchain.info/address/1AYdAw8CcrQ2wx55LTbFHRn5bxgNZhaRLW?offset=0&filter=0
716.40851602 BTC was mined from April 22 by various units. And only gods know, how much was mined on ozco.in.
So, regardles what said Yifu, the answer is: YES, Team Avalon is mining with customer units.

Litecoin Update:

• Litecoin Core Development Fundraising Meets Goal

A big sponsor who wishes to be anonymous is willing to support the Litecoin Development Team. They are offering a challenge grant where if we receive an additional 5,000 LTC in community donations by June 18th noon GMT, the anonymous sponsor will match with an additional 5,000 LTC. These combined funds will go a long way toward enabling long-term development of the Litecoin software and related vendor integration tools.

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The post Be Your Own Bitcoin Exchange | Plan B 11 first appeared on Jupiter Broadcasting.

We answer your Mining questions, and face reality: difficulty is up, ASICs are hitting the market, and it’s getting hot outside. Should you still mine bitcoin?

Plus the surge in alternative crypto-currencies, ESEA League\’s DRM slips in a bitcoin miner, new regulators looking at bitcoin, and a Bitcoin health check.

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• Canada Coins & a New South Africa Exchange

• listentobitcoin.com

• New Project Coingig.com

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— Discussion —

• E-Sports League Mined Bitcoins with Subscribers\’ Computers [UPDATE]

ESEA League, one of the largest PC gaming leagues, has admitted to putting code into the league\’s client software to \”mine\” bitcoins

• U.S. Regulators Eyes To Take Control Of Bitcoin | BTCPedia

The U.S. CFTC (Commodity Futures Trading Commission) considering whether the digital currency falls under their supervision. The alternative currency is \”certainly something we need to investigate,\” said CFTC Commissioner Bart Chilton to the Financial Times.

• Futures contract

Regulate Bitcoin? https://i.imgur.com/g3CiTx3.png

• Massive Bitcoin Business Partnership Devolves Into $75 Million Lawsuit

Gawker has learned that a much-hailed partnership between two of the most prominent players in Bitcoin, Mt. Gox and CoinLab, has devolved into a nasty $75 million lawsuit, which appears to be by far the biggest Bitcoin-related lawsuit ever.

• IAAL: Why the CoinLab v. Mt. Gox lawsuit is ho-hum

First, it\’s just a lawsuit. Thousands are filed every day. Breathe. From the complaint, it looks like CoinLab had an agreement with Mt. Gox. CoinLab probably paid a pretty penny (er, satoshi) for that agreement. CoinLab is now alleging that Mt. Gox is not holding up its end of the bargain. What would you do in this situation?

Health Check

• $1 billion in bitcoin was traded in April—16 times the previous record

In April, $1 billion worth of bitcoins was traded across all exchanges, according to an aside in the complaint bitcoin startup Coinlab just filed against the world\’s largest bitcoin exchange, Mt.Gox. Just a month prior, only $60 million in bitcoin was traded, estimates Jeremy Liew, a managing director at Lightspeed Venture Partners.

• Coinbase Now Processing $15M Per Month In Bitcoin Buys and Sells

Back in February we announced that over $1M USD worth of bitcoin was being bought and sold each month on Coinbase.

Here we are a little less than 3 months later and we\’re now doing $15M USD per month of bitcoin buys and sells.

• Bitcoin Client Downloads in China surge: Download Statistic

• Kashmir Hill – Lives on Bitcoin for a Week

Mine or Not to Mine?

• Hardware Picks Chris’ Uses:
  [asa]B007L5M63G[/asa]
  [asa]B000RGF29Q[/asa]

• Digital Drills: The Monster Machines that Mine Bitcoin

What started as a pastime any computer could dabble in has spurred the evolution of truly ridiculous powerhouse Bitcoin mining rigs. Meet the monster machines more powerful than everything you\’ve ever owned, combined. By a factor of thousands.

• My Mining MANshop! in the attic.

• Darrall Proves Where there is a Will There is a Miner

Good Resources

• Mining hardware comparison · litecoin

• Bitcoin Mining Calculator

• Bitcoin mining profitability calculator | Bitcoinx

• Comparison of mining pools – Bitcoin

• 50miner – Bitcoin Miner

• P3 International P4460 Kill A Watt EZ Electricity Usage Monitor

• Electrum Bitcoin Client

• burnside\’s Litecoin Mining Pool (LTC) – LTC Mining Calculator

• Future:

• [Announcement] Block Erupter USB

• Bitcoin Mining Hardware | Bitcoinx

• How to Buy ASICMiner Shares

• Litecoin Mining Pool Comparison

— Watch Live —

Tuesday 2pm PDT / 5pm EDT / 9pm GMT

• JbLive.tv

— Plan B Subreddit —

• Plan B Show

— Contact us —

• Chris on G+
• Drew on G+

— Music —

• Thanks to Ronald Jenkees and his fantastic track 7 Times

— Support the Show —

• Donate to the network with your worthless fiat or your fancy bitcoins!

• Tip address:

  1HE36CMdeYCF9N7rmpfa5BwKMGb1PfkNyD

The post To Mine or Not to Mine? | Plan B 5 first appeared on Jupiter Broadcasting.

Butterfly Labs has shipped the first batch of their ASIC miners. David Perry joins us to chat about his 5GH/s Bitcoin miner, his experiences mining over the past week, and what he believes is Bitcoin’s image problem.

Plus: Have we reached a turning point for Bitcoin Mt Gox DDoSing? Bitcoin’s moment on the Colbert Report, the downside to Litecoin, your emails, and much more!

Direct Download:

MP3 Audio | OGG Audio | Video | Torrent | YouTube

RSS Feeds:

MP3 Feed | Video Feed | Torrent Feed | iTunes Audio | Ogg Feed

Show Notes:

— Feedback —

• 3D printing for Bitcoin and Litecoin

• Is there some way to transfer bitcoins without paying the 0.05 transfer fee?

• Can different clients have different transaction fees?

Help spread the word on iTunes with a Rating and Review:

• iTunes – Plan B by Jupiter Broadcasting

Call or txt the Show:

1 (352) 587-5262

(352) 58-PLANB

— Discussion —

• bitfloor

I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals as we have in the past. As such, I have made the decision to halt operations and return all funds.

• The Bitcoin Bubble Explained, Colbert-Style (Video)

Leave it to Stephen Colbert to cut through the chatter about bitcoins with his own brand of high-octane, self-interested analysis. In a segment about bitcoin trading that aired last week on The Colbert Report, Colbert posed: “If you don’t know what Bitcoin is — want to buy some bitcoins?”

• BitCoin, Or BetaCoin? What The Venture Capitalists Are Thinking

The next chapter of the story, he believes, will be the entry of a host of \”Smart money\” venture capitalists looking to build the currency\’s infrastructure.

• Have We Reached A Turning Point For Bitcoin Exchange DDoS?

Unlike past DDoS attacks, something very interesting happened yesterday: nothing. Trades trickled through and prices barely moved, remaining in a tight band for hours. The implications of that could be tremendously positive.

• Butterfly Labs ship Jalapeños ASIC Bitcoin miners to customers

The day has arrived, the Butterfly Labs forum Latest Update reads \”Jalapeños are making their way to their new homes. https://ow.ly/i/1WUo4″.

While there is no mention yet of numbers that have been shipped or when the other Butterfly Labs devices like the BitForce Single or Little Single will be shipping this will be welcome news to bitcoin miners everywhere.

• Shipping Update – Blogs – Bitcoin Mining Forum – Butterfly Labs

Monday 4/22 shipped 4 Jalapenos. 1 Customer and 3 developer units.

Tuesday 4/23 3 more to ship today to customers.

As we get ramped up here I won\’t be telling you how many we ship each day–just what day the orders were made that we are shipping. Right now I just want you to know the magnitude of the number of units so you can see we are not blowing these products out the door in great numbers. That will come later.

David Perry Gets a BFL Jalapeno, shares his Unboxing and Demo

• BFL Jalapeno Unboxing and Demo

BFL was kind enough to send me a pre-release demo unit so I could show everyone the awesomeness.

• Bitcoin\’s Image Problem

No matter what your personal politics say about Mr. Bernanke up there, you\’ve got to admit he looks pretty professional. Now what does the average mental image of a Bitcoiner look like?

• Coding In My Sleep – Dave’s Site

— Litecoin —

• Who is working on the JB Litecoin Pool?

• Real-time BTC-e LTC/USD chart

• Litecoin As a Means of Transactions (pros/cons list)

• Enjoying LTC, but some questions

— Grab Bag —

• bitcoinstatus.org

• Blockchain infographic)

— Watch Live —

Tuesday 2pm PDT / 5pm EDT / 9pm GMT

• JbLive.tv

— Plan B Subreddit —

• Plan B Show

— Contact us —

• Chris on G+
• Drew on G+

— Music —

• Thanks to Ronald Jenkees and his fantastic track 7 Times

— Support the Show —

• Donate to the network with your worthless fiat or your fancy bitcoins!

• Tip address:

  1HE36CMdeYCF9N7rmpfa5BwKMGb1PfkNyD

The post Flight of the Butterfly | Plan B 3 first appeared on Jupiter Broadcasting.

From the trenches of discount Wednesday, we launch the beta of our new show: Plan B. We look at the media’s slowly improving bitcoin coverage, discuss the major selloff today, and why people shouldn’t fixate on the price.

Plus: the Mt. Gox problem that faces the bitcoin community, and how it gets gamed.

Then a look at the self appointed “face of bitcoin” Max Keiser and the big money he’s trying to get involved in bitcoin speculation, and brief Litecoin chat…

And so much more!

Direct Download:

MP3 Audio | OGG Audio | Video | Torrent | YouTube

RSS Feeds:

MP3 Feed | Video Feed | Torrent Feed | iTunes Audio | iTunes Video

Show Notes:

— Getting Started —

Through the lens of the ever increasing media coverage of Bitcoin, we\’ll explain some of the reasons we find bitcoin fascinating. And the fundamentals we believe show bitcoin\’s about to see an availing of new uses and speculators.

Previous Jupiter Broadcasting Coverage of Bitcoin:

• Bitcoin Explained | TechSNAP 9 June 2011
• Perfect Passwords Tips | TechSNAP 11 We cover an early Mt Gox hack
• Amplifying the Hype | TechSNAP 104 We Bring back the Bitcoin Blaster segment

— Discussion —

• Bitcoin price fluctuates wildly after massive run-up, losing up to 50 percent of value

• Bitcoin Suffers A Correction Amid Apparent DDOS Attacks On Some Exchanges | TechCrunch

• Nick Colas | LinkedIn

• Bitcoin 2012 London: Max Keiser – YouTube

• Max Keiser | Financial War Reports

• Keiser Report — RT Shows

• Bitcointip Reddit Bot

• BitVegas | A new world of bitcoin gaming

— Litecoin —

• Litecoin

• Litecoin – Bitcoin

• WeMineLTC.com

• burnside\’s Litecoin Mining Pool (LTC) – My Stats

• EasyLTC–The Easiest Litecoin GUIMiner!

• ScryptMiner GUI – Simple GUI for Litecoin mining

— Watch Live —

Tuesday 2pm PDT / 5pm EDT / 9pm GMT

• JbLive.tv

— Plan B Subreddit —

• Plan B Show

— Contact us —

• Chris on G+
• Drew on G+

— Music —

• Thanks to Ronald Jenkees and his fantastic track 7 Times

— Support the Show —

• Donate to the network with your worthless fiat or your fancy bitcoins!

The post BETA | Plan B 1 first appeared on Jupiter Broadcasting.