Dogecoin Community Pushes the DOGE to Yahoo!

After the successful integration of Bitcoin price charts into Yahoo Finance and Google Finance, the ever supportive community of Dogecoinusers is knocking on the doors of Yahoo! to get their much-adored cryptocoin listed too, but is also generating more hype in the online gambling arena.

Initiated by a Yahoo reader under the username‘siaubas’, a plea requesting for the enlistment of DOGE/USD on Yahoo Finance is now enjoying a tremendous support from other Dogecoin enthusiasts, who have pushed the request to the top position, showing the immense backing of the community.

The request highlighted Dogecoin’s highly motivated community that loves using the financial portal provided by Yahoo. It also emphasized the altcoin’s large user base, which topples other cryptocoins and come second to that of Bitcoin, as well as the significant media attention Dogecoin has been receiving.

Although no resolution has been provided yet by Yahoo regarding the request, which shares similarities with the Litecoin community’s appeal to be also listed on Bloomberg, the active participation of Dogecoin users even in the financial sector is showing hints of what is more to come for the alternative cryptocurrency, specifically in online wagering.

Since the popularity of the ShibaInu-laden coin, there has been an increasing number of gambling sites that enable bettors to play using Dogecoin. 

Stand on Bitcoin Applications Now Clarified by Apple's Policy Revision

“Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions,” stated under Section 11.7 titled ‘Purchasing and Currencies’ of the updated guidelines.

Apple has unconstrained a policy update that overtly spells out the prospective of Bitcoin transactions to take place within the company’s network.

The App Store Review Guidelines highlighted Apple’s reception of Bitcoin apps to run on its stand so long as they are authorized to operate in all of the territories they provide services.

The calculation of this policy gives new optimism for developers because the Cupertino-based company has as a final point expressed its eagerness toward changing its restraining attitude against Bitcoin and alternative cryptocurrencies.

However, while this is encouraging news in total, some speculators believe Apple will not agree to Bitcoin applications that transport the currency in the App Store right away. They reckon Bitcoin is yet to be accepted as legal by any region, so it makes it tricky to state whether or not Bitcoin transactions will instantaneously find a position on this platform.

Nevertheless, Bitcoin apps that do not require currency transport should not have any trouble in agreement with the App Store guidelines.

The addition of this policy is considered as a step forward for Apple, especially after the series of adverse actions it has taken toward virtual currencies in the past few years.

It can be recalled that Apple removed wallet apps Blockchain and BitPak from the App Store in early 2012, with the Blockchain app reinstated after. However, the company pulled from its store major Bitcoin wallet apps Coinbase and Blockchain late last year, which later resulted in February video operation that featured Apple devices being destroyed in public.

The Apple policy update is analytical of what is to come in the futureand how this game changer will work to the benefit of the prosperous industries of the virtual currency such as Bitcoin trading.

Bitcoin in Quotes

People new to cryptocurrencies have find the very definition of Bitcoin not an easy concept to grasp, especially since typically, the capitalized word "Bitcoin" refers to the technology and network, whereas lowercase "bitcoin" refers to the currency itself. As we all know, Bitcoin is the most accepted and victorious online digital currency that was first introduced in 2008 by a mystifying pseudonymous developer, Satoshi Nakamoto.

It is also a decentralized peer-to-peer payment network. This network serves as the host to all transactions made and is easily accessible to any Bitcoin user around the world. In addition, the transmition of funds from one user to another in the network is swift and secure. It is user generated; thus, the behavior among users dictates how this virtual currency performs in the market. Although it has no central authority that controls it, it is used as an lternative to fiat currencies like the U.S. dollar, British pound, or Japanese yen.

The bitcoin network is controlled by all its users worldwide. Though the developers are improving its software, they have no power to force a change in the Bitcoin protocol. Hence, you can be assured that no one intervenes in your bitcoin transaction, not even a bank or any government. Given this, bitcoin is as well an independent currency since it is backed by no one therefore it is completely unregulated.

There is a lot of other ways to define this groundbreaking cryptocurrency, but for newbies on this matter, a site called igotbitcoin.com offers a random bitcoin quote generator than can educate people about BTC with a few words only.

Here are some of the examples:

1. One of the main reasons for the increasing reputation of Bitcoin among merchants and clients is that it shrinks transaction costs.
2. In the future, the struggle will be not be about getting IN to Bitcoin, but about getting OUT of your bank account.
3. Bitcoin will outlive the banking lawmakers and tyrannical groups. The converse however is improbable.
4. Bitcoin's blockchain is the most notable Computer Science invention of the century.
 
5. Give away a modest amount of bitcoin to new people and explain how it operates, then assist them get setup to handle it for themselves.
6. Bitcoin doesn't just disrupt money. It also disrupts the models of current corporations, macro-economics, nation-states and the Internet.
7. Bitcoin is a technology and an innovative form of money.
8. Bitcoin is a breakthrough that facilitates distributed consensus over a shared asset ledger without counter-party risk.
9. Bitcoin is a consensus network that enables an innovative payment system and a fully electronic money.
10. Bitcoin is a currency that is created digitally and traded between individuals without going through a financial intermediary.
11. The grand undertaking that is Bitcoin has fought many setbacks, all of which were conquered by the community.
12. Unless something fails in the Bitcoin software that cannot be mended the fundamentals are no different at $1000 than they were at $1.
13. Previously unsolved dilemma in computer science is to transfer info without making a copy. Bitcoin's answer enforces digital scarcity.
14. The experiment that is Bitcoin has battled many crises, all of which were resolved by the community.
15. Bitcoin is the world's first true approach to electronic cash, that allows peer-to-peer value exchange online.
16. The Internet of Money, Bitcoin, is liberating 50 yrs of pent up innovation in finance, because it offers innovation w/o permission.
17. Misplaced Bitcoins is not an issue. It multiplies the value of existing bitcoins.
18. Bitcoin is a set of rules, not just a form of money. Currency is only the first app.
19. The Internet of Money, Bitcoin, is liberating 50 yrs of contained innovation in finance, because it offers innovation w/o authorization.
20. Bitcoin is a new innovation that enables an original payment system and a completely digital cash.
21. Many thought leaders believed the Internet was rubbish when it was first introduced. Bitcoin could be just as groundbreaking.
22. Sooner or later, banks will adopt Bitcoin, just like telcos found a way to make a dime on the Internet.
23. In the future, the struggle will be not be about getting IN to Bitcoin, but about getting OUT of your bank account.
24. Consider Bitcoin as being a currency and a breakthrough in computer science.
25. At the start you're interested and envious of people having it, then you have it, and then you want more. Bitcoin is just like sex.

Should you desire to generate more, you may do so at igotbitcoin. 

Is Bitcoin Changing the World or Is It Not a Real Currency at All?

With the ban of the utilisation in Russia and all the BTC-e platforms being traded across the globe, is Bitcoin really affecting the world in a slightly more downbeat slope, or as many of us believe, is it the currency of the future. Those of us who believe in the Coin may have to weigh the facts more before procuring quality trades. This is, after all, a protocol when trading erratic currency used for years by stock traders alike.

Before the very unfortunate crash of Mt. Gox, one of the largest BTC digital-money (or virtual-currency) exchange, Japanese finance minister, Taro Aso, foresaw the unavoidable demise. “No one recognizes them as a real currency,” he informed reporters. “I expected such a thing to collapse.”

Other professionals, for instance, Larry Kudlow of National Review Online has expressed disbelief in the stability of the Coin as well citing, “I totally agree with Mr. Aso. For weeks and weeks I have been tweeting and broadcasting that bitcoin is not real money. It is not a reliable medium of exchange, nor is it a reliable store of value. It has no central-bank regulation, network operations, or even centralized issuance. And because of its wild price fluctuations, bitcoin can never be a reliable payment system.”

Project entrepreneur Ezra Galston states in the Wall Street Journal, “without a regulatory framework, credible payment processors — such as PayPal, Dwolla or Square — cannot service bitcoin exchanges. And because payment processors are vital for converting fiat currencies into virtual deposits, bitcoin operators will be forced to move downstream into the black market.” Mr. Galston closes by emphasizing that “the bitcoin community must embrace external regulation to ensure that credible vendors may participate in payment processing.”

However, Bitcoin has surely changed the world within a short time. As a universal currency, Bitcoin is in many ways the direct opposite of contemporary fiat currencies.

It has matured in an augmented fashion in utilisation last year, and all without being affirmed by any position or central bank as a legal tender. That simple fact renders many professionals in the cryptography community speechless, who could never have predicted a currency could impulsively shape and purely cultivate within the current free marketplace. It was something that was never even conversed of notionally, and is still taking time to sink in amidst the denials that the Coin is here to stay.

It is important to take note that there are some jurisdictions that strictly ban all foreign currency such as Argentina while there are also jurisdictions that may limit the licensing of certain institutions such as Bitcoin exchanges, an example of which is Thailand. Yet the Coin incidence is unexpectedly not wholly without preference. Bitcoin is not the only example of a homogenous “good” being adopted by a population of enthusiasts, professionals, traders, and miners as a currency, for nothing but its fundamental accepted value and widespread appeal. We have a much elder example of that: gold, more than 5,000 years ago. Bitcoin is following the same path as expensive metals in ancient civilization. Where gold was valued for its colour, easy pliability, cleanliness and its anti-corrosive properties, bitcoin is valued for its velocity, decentralization, secrecy , and specially low transaction costs.

Thus, Bitcoin has surely changed the world as we know it, and it may be soon before it dominates the financial trading industry and considered a real and recognised currency.

Satoshi Nakamoto – Identified or Still a Huge Hole in the Bitcoin World

Are people still desperately seeking Satoshi Nakamoto?

The answer is, of course, a big yes. Considering the recent events in which Satoshi Nakamoto has finally identified by Newsweek, on the front cover of its relaunched print publication, but after being chased through Los Angeles streets by reporters for an entire day, Nakamoto stated: “I got nothing to do with it”. Newsweek also cited (Dorian Prentice) Satoshi Nakamoto as saying: “I am no longer involved in that and I cannot discuss it. It’s been turned over to other people. They are in charge of it now. I no longer have any connection.”

As one of the greatest mysteries in the world of cryptography, Satoshi Nakamoto is an icon for virtual currency innovation and digital revolution in financial trading. It was allegedly not a pseudonym after all. According to McGrath Goodman, Doriran Nakamoto is 64-years-old, lives in a self-effacing home in Southern Calif drives a Toyota, has a model train for a  leisure pursuit, did guarded work for conglomerates and the U.S. military, and is merited an projected 400 million USD in BTC.

The Bitcoin community’s is obviously in revolt with the sudden change in the Bitcoin network spectrum. A rapidly mounting accord is that McGrath Goodman has desecrated the whole thing from universal decorousness to journalistic moral code by disseminating so much individual information regarding Nakamoto, who so to a great extent desired to stay behind out of the communal eye that he spoke with the police when he learned that McGrath Goodman was on her way to his abode to ask him about his association to Bitcoin.

Perceptibly, Bitcoin is a story with a load of community concentration attached to it. However, is the accurate character and bodily position of its suspected maker essentially a part of that? Reddit was showed aggression for using blundering techniques to attempt and establish the identity of somebody significant before, and for being tragically erroneous —how do we recognize that Newsweek’s ways were any better? 

The story makes orientation to trace searches and the employ of forensic investigators, but the immensity of the “substantiation” for his identity is still regarded exceedingly contingent. More than anything, stories like Newsweek‘s portion on Nakamoto strengthens just how indistinct the line is between illuminating information in the interest of the public concerning a person’s personal life, and compelling somebody to be converted into civic status in a manner they never predicted, and a method that could have valid ramifications for them. That’s a conversation that’s worth having despite the consequences of whether the individual doing the enlightening is a certified correspondent or not.

Mt. Gox – The Final Hours

As Mt. Gox hits an all time low with its backruptcy situation, Bitcoin users have defined the collapse as an urge to buy BTC as the crash will soon send traders afloat and with hopes of surplus in the Bitcoin value. It is even rumored that Blockchain may be buying off this unfortunate circumstance with the advent of their release of ZeroBlock – which is founded by acquiring RTBTC. However, more on that later, Mt. Gox has released statements on their site one of which is the Comprehensive Prohibition Order Judgment:

平成２６年３月４日

包括的禁止命令主文の通知

再生債務者株式会社ＭＴＧＯＸについて，平成２６年２月２８日，東京地方裁判所

から，包括的禁止命令が発せられましたので，同裁判所からの指示により，下記の通

り，同命令の主文を掲載いたします。

記

　本件再生手続き開始の申立てにつき決定があるまでの間，すべての再生債権者は，再生債務者の財産に対し，再生債権に基づく強制執行又は仮差押え若しくは仮処分の執行をしてはならない。

以上

[translation from the Japanese]

March 4, 2013

Comprehensive Prohibition Order Judgment Announcement

Rehabilitation debtor MtGox Co., Ltd. received on February 28, 2014 a comprehensive

prohibition order from the Tokyo District Court. Following the instructions of the Court, the text

of the judgment is hereby published:

No forced execution or preliminary attachment or disposition shall be made by a

rehabilitation creditor on the basis of a rehabilitation debt with regard to the properties

of the rehabilitation debtor during the period until a decision shall be made with regard

to the application for commencement of civil rehabilitation.

For people who have lost so much with Mt. Gox, it is necessary for them establish how much they've lost. The paramount way to do this would be with a topical download of their records from Mt. Gox. Though the website was still inaccesible, it is probable that some functionality may be brought back in the upcoming weeks for just this function. If this doesn’t happen and if there are no kept records separately of their Mt. Gox account, then they may be able to circuitously settle on how much they’ve lost using records from their bank or sum processor. An accountant should be able to assist them. A loss at Mt. Gox would most likely have to be averred for 2014, so they have copious time to go to compute their loss.

A statement from the Japanese government, mentioning 18 sections of 11 laws and regulations, states Bitcoin is not a legal tender or an advantage within the view of specialized trading or quality management, while trading the virtual coinage is not a banking or financial transaction. Nevertheless, the statement also says Bitcoin could be taxable if it meets specific conditions of revenue, business or expenditure tax laws. This leaves open the likelihood that Bitcoin could be regarded as goods like copper, although the statement does not spell this out.

And Bitcoin Recovers

From the recent crash of BTC since the advent of the Mt. Gox’s liquidation, Bitcoin now looks promising as it slowly rises from the unfortunate slope it went down on a few days ago. Ever since the rumours of insolvency emerged, BTC owners were quick, not to criticize Mt. Gox, but to question the stability of Bitcoin. However, it was clear that the problem was with Mt. Gox. And with their unfortunate admittance and filing of bankruptcy a few days ago, the Bitcoin community is slowly regaining its faith to the Coin. Around $63.6 million debt is claimed by the cryptocurrency trading giant.

However, the 850,000 BTC lost is somewhat higher to the 744,400 stated in the Crisis Strategy Draft released a few days ago by Ryan Galt – now known as The Two-Bit Idiot. The negative PR has made such strong waves that a decent amount of BTC owners have already considered exchanging their BTC to real world currencies before another crash.

Winklevoss Weighs In

In a blog post by Tyler Winklevoss, he stated:

It can’t be emphasized enough that Mt. Gox’s demise was not a Bitcoin problem; it was a Mt. Gox problem. Fiat withdrawals were being delayed, which was a pretty good indication to me that its assets and liabilities may not have been matching up. 

Mt. Gox’s closure marks the end of Bitcoin’s first wave of entrepreneurs and at the same time underscores just how far the Bitcoin ecosystem has come. Several other exchanges have stepped up and seamlessly shouldered the burden, and as a result, the price of bitcoin has shown remarkable resilience.

Bitcoin will get past Mt. Gox (it already has) and it will be stronger for it. And in case anyone is wondering, I haven’t sold any bitcoin.  In fact, I have taken this as an opportunity to buy more.  Nothing worthwhile is built overnight, and nothing worthwhile comes without a struggle.  My Bitcoin time horizon is in the years, there are some days I don’t even look at the price.

Investments do not bear fruit in a short amount of time; much like any other fruitful process, it is directly proportional to time, and the more time invested in Bitcoin, the more profits it will reward us.