Provably Fair Bitcoin Casino

If you are always losing on a Bitcoin casino game, chances are you will be thinking a lot of things and be wondering about if the house is already playing tricks on you. If this is the case, all you want to do is that you can verify if all your games are fair. We all know that in every Bitcoin casino all that you need to protect is your winnings and you would really love to know if your online Bitcoin casino is not playing tricks on you when you bet with Bitcoin! Online Bitcoin casinos now are starting to be more transparent in their games and in their players.  One reason is the players are now being smart about their bet and about their winnings we all know that you want to play because you want to win and you want to double or even triple what you have.

In short, you can trust that a game of Bitcoin that are provably fair are guaranteed to be random and reliable, the said provably fair just have and explained in a simple and basic logic it’s just like your pin code or password.

Bitcoin casino now are offering Provably Fair Gaming this is the trait that makes Bitcoin gambling distinct from the normal gaming experience offered in online casino. This provably fair gaming offers the players to have the power to keep a watchful eye on the game outcomes of your every bet, take note that every casino games now are offering a provably fair gaming like provably fair Bitcoin poker, Bitcoin dice, Bitcoin roulette, Bitcoin lottery, Bitcoin blackjack, Bitcoin slots, and a like.

If your Bitcoin casino or a online Bitcoin Gambling site utilizes this system, you can always expect that it uses the cryptographic hash functions to generate strings from normal data. Once the data is converted into strings, you will see a series of alphanumeric characters, which is actually called the hash.

In short this provably fair is just the reason why players are now aware that the Bitcoin casino where they play casino games is literally and technically legitimate. 

Ritz Grand Casino Offers

Ritz Grand Casino Offering Slot Play for Just One Cent Per Line

Ritz Grand Casino is announcing their special offer of allowing members to play their wide variety of slot machines for as low as one cent per line. After a long day at work, many individuals just want to sit back and put their legs up. When it comes to relaxation and entertainment at the same time, there are many advantages to trying one's luck at an exclusive internet casino that accepts Bitcoin payments. With the options available, those looking for a reliable platform will choose the one that offers the most bang for their buck.

This summer Ritz Grand Casino is announcing their special of allowing members to play their wide variety of slot machines for as low as one cent per line. There are three reel slots and five reel slots so players can choose their favorite games and start winning at the click of a button. Select from 777, Luxuriouslot, Golden Aztecs, Indian Charm, and more.

The Casino is a provable fair bitcoin casino, it was implemented together with quick payout platform. With an abundance of options, users can end up with huge winnings by playing the provably fair Bitcoin casino.

BetCoin Rises to the top

A Bitcoin Revolution!

Enter BetCoin, the Bitcoin-only gambling platform which has introduced the industry to the alluring combination of Bitcoin's complete user anonymity and provably fair, traceable gameplay. Bitcoin going mainstream may be the hot topic for the year, but the online gambling industry is on the way to achieving this already, unveiling a transformation Satoshi would be proud of.

"In contrast to many of its competitors, BetCoin designed and built their system from the ground up with cutting edge technologies to focus completely on crypto currency, rather than retrofitting old fiat casino systems." Said Wayne B

While the majority of online gamblers are still using fiat, this move has turned out to be a shrewd one, with BetCoin already outpacing its competitors, including bitcoin casino industry stalwart SatoshiDice.

Bet to the last Satoshi

BetCoin capitalizes on this and offers entertainment for players who would otherwise be unable to participate due to banking/monetary restrictions, "Users can place bets as low as 0.00000100BTC. The accessibility model does not belie a target market solely lower-end customers, however. "BetCoin's large venture-capital backing allows them to offer the highest maximum bets of any Bitcoin Casino, giving any person with internet access a chance to play and win big, regardless of financial status"

BetCoin capitalizes on this and offers entertainment for players who would otherwise be unable to participate due to banking/monetary restrictions.

Because of the investments, it has allowed BetCoin's developers to produce an impressive set of credentials. Games are provided using state-of-the-art security and HTML5, mobile-enabled graphics, while "provably fair gambling" technology is used to create the outcome of each game, which is done using SHA256 AND SHA512 encrypted hashes, in such a way that the outcomes cannot be tampered with, and are truly random."

Source: cointelegraph.com

BitCasino.io, the Internet's Best Choice for Bitcoin Online Casinos

With the internet's biggest powerhouses, Google and Yahoo, now adding Bitcoins to their financial outlets you can only imagine that the interest of this open source P2P virtual currency will continue to grow exponentially.

The popularity has already caught on within the online gambling industry as the first licensed Bitcoin online casino has launched. BitCasino is a licensed and accredited gambling operator currently available to Bitcoin players exclusively.

Playing at BitCasino

Players can register for an account, deposit, play, and withdraw money with Bitcoins as the only currency. This allows players to enjoy the freedom of gambling online anonymously and have access to some of the hottest online slot games from the industries biggest software developer.

BitCasino is powered by the award winning, innovator of 3D casino games, BetSoft Gaming! BetSoft Gaming offers casino operators some of the best cinematic 3D generated slots online with some personal favorites that include the newly released Gypsy Rose slot and our all time favorite, the off the wall sequel to Gold Diggin', More Gold Diggin'!

If you haven't experienced the vast collection of 3D slots from BetSoft Gaming don't hesitate to take on BitCasino generous welcome package giving new registrants a 100% up to 1BTC on your first deposit.

The look and feel of BitCasino will be just like playing at any other real money play online casino, with a transparency of intention to offer pure gambling entertainment. Simply register a username and password, deposit your Bitcoins to your BitCasino exclusive bitcoin address and within minutes your account will be funded and your on your way to some of the internet finest online gaming.

Source: casinoscamreport.net

SoKor Bitcoin Casino Seeks Asian Customers

The List Of Online Casinos Using Bitcoin Is Getting Longer and Longer!

With a large number of gamblers eager to spend their money playing casino games, the Asian market has a huge potential. The only trouble is online and mobile casinos are not only illegal, but also blocked in several Asian countries, where laws tend to be very restrictive and authorities impose harsh punishments on anyone who dares to break them.

Satoshinori, a company operating from South Korea, is hoping to draw a big chunk of those gambling-thirsty Asian customers. Virtual currency is often used to dodge anti-gambling laws by avoiding traditional payment processing and Satoshinori is the latest addition to the list of online casinos using bitcoins. The website is available in Korean, Japanese, Chinese, Vietnamese and English. 

For now, the website doesn't offer online blackjack, but it does have a variety of multi-players games, including Seven Card Poker, Texas Hold-em and Matgo. Some of these game can only be played at Windows Explorer.

Testing the market

The South Korean website went live in May and is currently in beta testing. Players are welcome to participate and communicate their observations to the casino staff, via email. The team did not set a date for the full launch yet. An announcement published on the site says: "We will officially open when we finish the beta service."

It is Legal

When it comes to gambling with virtual currency, the biggest concern is the legality of the whole thing. Several Asian states – such as China or most American states – forbid playing online casino games for money. But the trick is… bitcoin is not real money; it’s virtual currency. It’s a completely unregulated market, because most states don’t even recognize it as a currency.

Source: virtualmining.com

Blockchain Launches Bitcoin.com

Blockchain Launches Bitcoin.com Android App

Bitcoin Wallet and Block explorer provider Blockchain has officially launched its Bitcoin.com website today, giving visitors a learning portal to the basics of the digital currency. Previously, the site was used by fellow consumer wallet provider Coinbase as a customer onboarding tool. However, Blockchain announced its 5-year deal to manage the domain name earlier this year.

At the time, the company expressed its hope "to help drive consumer adoption and education" using the web portal, standing; "We are excited to create new learning experiences and introduce millions of new users to bitcoin as a result of this exclusive deal."

The site is available in at least 70 languages, including Czech, Persian and Zulu, among others.

Blockchain for Android

The announcement coincided with the news that Blockchain will launch a more consumer-friendly wallet app update on Android devices next month, as reported by Business Insider. Blockchain executives told the media outlet that the app will emphasize security as well, and provided screenshots highlighting the app's improved interface.

The company has also announced that it will further resubmit its app to the iOS store following Apple's most recent policy update, which may now allow for bitcoin apps with money transfer capabilities to be listed via the platform.

Site Overview

At Bitcoin.com, users are greeted by an introductory "What is bitcoin?" video, with the current bitcoin price displayed in the top corner. Just below, the site answers the question of how to use bitcoin, briefly explaining how bitcoin wallets work and directing users to Blockchain.info.

Bitcoin.com directs bitcoin beginners to the main players in the ecosystem-Coinbase, Bitpay, Overstock, among others - to answer other questions about how to become informed and involved with the digital currency.

Source: coindesk.com

Bitcoin Entrepreneur Settles SEC Charges Over Stock Sales

SEC Charges Over Stock Sales!

Erik Voorhees, 29, who published prospectuses and solicited investors through the Bitcoin Forum websites to buy shares in FeedZeBirds and the popular bitcoin casino SatoshiDICE, both of which he co-owned, without first registering the offerings as required under federal securities law, according to the SEC.

A well-known proponent of the electronic currency bitcoin agreed to pay nearly $51,000 to settle U.S. Securities and Exchange Commission civil charges that he publicly offered unregistered shares in two Internet ventures, the regulator said on Tuesday.

The settlement calls for Voorhees to give up $15,844 in profit and interest, and pay a $35,000 fine. He didn't even admit or deny any wrongdoings.

Erik Voorhees is also a founder of Coinapult, which lets users transfer bitcoin via email or messaging service. The virtual currency is transacted independent of central control, and it is not backed by any government or central bank.

"All issuers selling securities to the public must comply with the registration provisions of the securities laws, including issuers who seek to raise funds using bitcoin," said Andrew Ceresney, head of the SEC enforcement division.

Brian Klein, a lawyer for Voorhees, did not immediately respond to request for comment. Klein has also worked for the nonprofit Bitcoin Foundation, which advocates use of the currency. The SEC said Voorhees raise 2,600 bitcoins in May 2013 through the sale of 30,000 shares in FeedZeBirds, which promises to pay bitcoins to Twitter users who forward sponsored text messages.

It also accused Erik of helping raise 50,600 bitcoins from August 2012 to February 2013 through the sale of $13 million shares of SatoshiDICE, a bitcoin casino gaming website that pays out casino-like winnings in bitcoin, SatoshiDICE was sold last July for more than $11 million, Eirk Voorhess said at that time.

According to the SEC, the value of bitcoin has fluctuated since Voorhees' first unregistered offering from about $5 to $1,200 per bitcoin. 

The case is In re: Voorhees, SEC Administrative Proceeding No. 3-15902. The SEC's order finds that Voorhees violated SEctions 5(a) and 5(c) of the Securities Act of 1993.

In addition to the monetary sanctions, Voorhees agreed that he will not participate in any issuance of any security in an unregistered transaction in exchange for any virtual currency including bitcoin for a period of five years.

Source: reuters.com

The First In-Casino Bitcoin ATM

Las Vegas have the First In-Casino Bitcoin ATM

Tourists visiting the gambling and entertainment mecca of the US can now get their cryptocurrency at The D Las Vegas Casino Hotel. The D has partnered with Robocoin, a fellow Las Vegas-based company, to place a bitcoin ATM inside its casino.

The machine allows users to both buy and sell the currency. Derek Stevens, CEO of the D Las Vegas Casino Hotel, said in a statement:

"We're proud to be the first casino property to accept bitcoin and we're excited to offer our customers the convenience of a bitcoin ATM."

Vegas and Compliance

The D Casino Hotel is located downtown on Fremont Street, distanced from the main Las Vegas Strip. Stevens refers to this area of Las Vegas as a "growing high-tech hub". Earlier this year, the casino became the first to accept bitcoin for hotel stays, restaurants and gifts shop items. However, The D does not currently accept bitcoin for its gaming operations. The Nevada Gaming Control Board would have to approve [bitcoin for gambling], which seems unlikely for the foreseeable future," said Sam Glaser, Robocoin's CMO.

However, D Casino Hotel's Stevens previously told CoinDesk he thinks the Nevada Gaming Commission is closely looking is closely looking at bitcoin for future use. Jordan Kelly, CEO of Robocoin, says bringing a bitcoin ATM to the compliance heavy market of Las Vegas is a sign of progress:

"[We're launching] in the highly regulated state of Nevada. These are all signs of bitcoin maturity and institutional acceptance."

Source: coindesk.com

Starting CoinGG.com with a Bang!

This roulette betting site started making a buzz in the industry with a bang!

CoinGG.com debuts in the online gaming industry and in the community of bitcoin bettors with its introductory bitcoin giveaway, which is set to award the first 100 players who will post in its thread on bitcointalk.org with 0.5 mBTC each starting May 17.

The newcomer CoinGG boasts state-of-the-art technology in providing and maintaining a betting performance that is parallel to those of established Bitcoin casinos online, and therefore, it manages to offer premium roulette betting on the web, highlighting key features and services essential for a seamless betting experience.

The promotion proved to be success based on the response on the bitcoin forum, CoinGG is poised to attract players regardless because it has the makings of a prime-quality online bitcoin roulette game, which it describes as beautiful, clever, generous, swift, fair and secure.

But the best thing about this bitcoin casino and this is the lone feature that makes it stand out among the rest of the bitcoin casino games is the ability of players to invest in the platform and earn a share of the total house profits from every win and loss. It only means that the larger the investment is, the higher the profits will be; although the maximum profit a player can receive from a bet is limited to 2% of the house's bankroll.

Source: bestbitcoincasino.com

Casino M8TRIX License in Jeopardy

Casino M8TRIX License in Jeopardy after profit Skimming Accusations!

A california cardroom may find itself out of business if the state attorney general's office can prove Casino M8trix attempted to hide millions of dollars in profits. The state's Bureau of Gambling Control filed paperwork on May 2 accusing the San Jose cardroom of diverting significant income from its 49 poker tables to limited liability corporations (LLC) controlled by M8trix owners Eric Swallow and husband and wife team Peter and Jeanine Lunardi.

The payments to the LLCs were listed as expenses rather thatn distributions to owners, which reduced the amount of income M8trix reported to effectively zero in three of the four years between 2009 and 2012. This is not only reduced M8trix's tax bill but also its contributions toward city-run gambling addiction programs. The San Jose Mercury News reported that Swallow had admitted there were no invoices detailing the nature of the expenses for which the LLC's received "millions of dollars annually" from M8trix.

Bitcoin Investments are Stopping!

US Regulator Warns Against Investment in Bitcoin!

The SEC has urged investors to approach Bitcoin with caution due to its recent volatility. The US financial regulator Security and Exchange Commission issued a lengthy warning against investing in Bitcoin, straight that it lacks "credibility and trust." This comes a few month after the SEC announced that it would regulate the virtual currency as an asset instead of a currency, meaning that traders would have to pay the capital gains tax on transactions.

Bitcoin has come under fire due to exchange rate volatility and the bankruptcies of MtGox and Flexcoin. While it still has its supporters, iOS, Android and Windows mobile casino Vera&John recently announced that it would no longer accept deposits in the currency. In addition, American hedge fund mogul Warren Buffet has urged investors to approach Bitcoin with caution.

Governments seek to regulate Bitcoin

Late last year the People's Bank of China announced that it would not allow domestic companies to trade in Bitcoin, and now the SEC is looking to increase regulation on the currency. However, the fact that all transactions are virtual and bypass the use of banks makes it difficult to governments to monitor use the currency. It is accepted by numerous mobile casinos including Bet365 and Zynga.

Source: blackjackchamp.com

Bitcoin Economy is Controlled?

Is the Bitcoin Economy Controlled by Online Gambling?

More than half of all Bitcoin Transactions are from Gambling Sites. But is the Future of Bitcoin a Safe Bet? There are many parallels between the risk of betting on bitcoin as the currency of the future and the risk of placing a bet on the Yankees. For one bitcoin enthusiast those risks are one and the same.

Bitcoin advocate, entrepreneur and CEO of Bitcoin Sports Trade, Tyler Wilson discusses what bitcoin means to the world and how it is the innovation that inspired him to create BitcoinSportsTrade.com

Gambling on Freedom

Wilson shares his thoughts on the true power of Bitcoin. "Bitcoin means much more to the world thatn just a new form of money" he says. "Bitcoin at its core represents the decentralization of a corrupted banking system and the freedom of choice. Bitcoin literally has the potential to unify the world and give the powe back to the people", he explains.

Using bitcoin to facilitate a bitcoin sports betting site is fun and all but what bitcoin really represents has far greater significance to me. Bitcoin gives a voice to the people, so the more we use bitcoin collectively, the louder that voice becomes, according to Wilson. He also says that the more companies start to accpet bitcoin and the more bitcoin based businesses are started, the more we will be able to shift the imbalance of control in the world.

Bitcoin is no controlled by any single entity. Nobody's in control so no one can tell you what to do with your bitcoins and how to spend them. Isn't that true definition of democracy?

Source: coinreport.com

mBit Casino Live Dealers is on Fire!

mBit Casino Live Dealers Pose for Lingerie Shoot!

Over the past few months mBit Casino has grown into a successful bitcoin casino offering a variety of games. However, there is one aspect of the casino which is particularly successful at attracting players, live dealers. mBit Casino was the first bitcoin casino to offer a live dealer experience.

The dealers are based in a studio and broadcast games live to players across the world. The service is already extremely popular, but now in order to give it an extra boost the casino has featured their dealers in lingerie in a photo gallery on the site. The photo shoot has already led to an increased amount of new players and higher levels of customer retention.

Philip Aaker, the marketing manager at mBit Casino, said, "On top of being incredibly attractive, our live dealers are the best at what they do. It's time casino players familiarize themselves with the benefits of Bitcoin and there is no better way than to take your first steps in our live dealer section".

Furthermore, new players can receive a 25% deposit bonus of up to 1BTC when they sign up. The success of mBit Casino suggests a great future for bitcoin gaming and the bitcoin economy in general.

Blockchain Reaches Milestone

Milestone Passes 1.6 million User Mark!

The blockchain.info CEO Nicolas Cary, the most popular online bitcoin wallet website, shared his excitement in twitter that Blockchain had almost passed 1.6 million users. Since his posting, the blockchain website has reached and surpassed the 1.6 million mark and is continuing new records.

Blockchain Passes the 1.6 Million User Mark

The reason for blockchain's wide success stems from how the website is run and what it has to offer its users. Blockchain allows people to store Bitcoins in an online Bitcoin wallet known as a 'my wallet' which allows users to make transactions around the world for free. The key factor about Blockchain is that users are the ones who have the full authority of their bitcoins. What this means is that Blockchain is unable to see transactions, user balance, or make payments.

Blockchain also boasts of a secure standard AES encryption to protect users' wallets. The great thing about the encryption is that any communication between clients and Blockchain servers are encrypted. This signifies that Blockchain actually does not have access to users' accounts.

The online Bitcoin wallet website also offers a variety of features that may appeal to a wide audience: 

Free, No Fees
Two Factor Authentication
Secure Client Side Encryption
Live Updating Interface
Ability to make your own backups.
Import / Export Private keys.
SMS & Email Payment notifications

Bitcoin users flock to Blockchain because it is known as one of the most secure forms of online wallets. Therefore, it is understandable that the amount of users are only going to increase.

Source: coinreport.net

What is the State of Bitcoin Online Gambling?

John Stossel Discusses the State of Bitcoin Online Gambling

John Stossel of Foz News' The Stossel Show, recently had Naomi Brockwell, a Bitcoin Center NYC Policy Associate on his show. The two discussed the state of bitcoin in the online gambling circuit.

Bitcoin Online Gambling

The bitcoin has revolutionized the landscape of online betting, especially for those who didn't have access to it before. Majority of US states, online gambling is illegal, but with bitcoin, the identities are kept private and hidden from government eyes.

Today, online gambling has become easier for people to access than ever before according to Brockwell, She says: 

“The way that the ban on internet gaming is enforced is that the government actually targets the intermediary, the financial institutions, that process the payments to the online gaming sites. What’s amazing about bitcoin is it is a peer to peer currency so it doesn’t actually use any of these financial institutions therefore the bettor can communicate and make payments directly to the casino.”

She adds that 50-60% of all bitcoin transaction are made through the gaming market, and that the digital coin's technology is actually making it safer to bet online. According to her the state of bitcoin, that it eliminates the risk of charge-back fraud, as transactions are irreversible. In her view, bitcoin is a form of free-speech, where the government can't track what people spend their money on.

Betting sites and sports betting sites are adopting bitcoin on their operations to make gaming smooth. The CEO of BitcoinSportsTrade Tyler Wilson said: 

“The emergence of bitcoin has allowed us the opportunity to create an online sports-betting platform that makes it 100% more convenient for US sports bettors in variety of ways”

Wilson sees bitcoin for its offering of freedom of financial expression. He compares casino deposits and withdrawals paling in comparison to bitcoin's instantaneous structure.

Bitcoin Gambling Market

With bitcoin, online gaming sites or bitcoin casino sites become more easily accessible to Americans. They can place bets using private information online, on a website that is established across an ocean. Online sites allow users to bet on things like sports, politics, the Olympics and even the Oscars. Americans that deal in the bitcoin gambling have their funds transferred instantly. This allow them to avoid regulations which forbid such transferring activities back home. 

Whether or not one agress with Americans taking on bitcoin to gamble safely, it has to be recognized that bitcoin's impressive technology is the reason why something like this could even work.

Source: coinreport.net

Play Bitcoin games and earn some cryptos

Play and Win your Online Gold 'Bitcoins'

Bitcoin, the new face of currency, nearly worth an ounce of gold has become a craze worldwide. Many e-commerce websites are now dealing with this digital currency actively allowing you to purchase products online with Bitcoins and even play games.

Patrick Bryne the CEO and Chairman of Salt Lake's Overstock.com, one of the largest e-retailers in the world earning more than $1.3 billion a year in sales, also plans to convert millions of dollars into Bitcoins and become one of the first major online retailers to accept payment in Bitcoins.

To get your hands on the currency, you don't necessarily have to buy it every time from a marketplace; instead you can win them too! Wondering how? If you are a gamer and you love to spend hours playing online games, then try planning Bitcoin games. These games are probably the most easiest and enjoyable mediums to collect Bitcoins. A small bitcoin investment can help you earn big time.

There are numerous websites that offer gamers a wide range of exciting and super-fun bitcoin games to play and collect bitcoins. These websites have truly taken the gaming experience to a whole new level, where you not only immerse yourself in exciting and fun filled online games but also win Bitcoins. I'ts a win-win all the way!

Source: venturebeat.com 

Sorry We're Closed!

Bitcoin Sportsbook Coinbet is Now Closed, Poker Player Michael Katz Out $340K!

Over the Easter holiday weekend, visitors to the site were greeted with a notice indicating that the site was “now closed.” The notice instructed players with outstanding balances to contact an email address to resolve their situation. Bitcoin-only online sportsbook Coinbet.cc has closed its doors mere months after the site first launched.

All outstanding debts and accounts will be paid out in accordance with the arrangement made by Coinbet and the sale of all related assets. Despite these vague assurances, few Coinbet players appear convinced they’ll be made whole anytime soon. Estimates of the total sum owed to Coinbet players range as high as $5m. Players responding to the notice have been contracted by a "liquidation firm" claiming to have been retained by Coinbet "to ensure proper liquidation of all assets".

Michael Katz and the Bonus from Hell

One Coinbet player who likely won’t be getting satisfaction is poker player Michael Katz, who claims Coinbet stiffed him for $340k. Just one day before Coinbet’s site went dark, Katz started a lengthy and screenshot-heavy thread at Bitcointalk.org detailing his frustrations with attempting to withdraw funds from Coinbet.

In a nutshell, Coinbet claimed Katz had failed to meet his bonus rollover requirements and therefore wasn’t eligible to withdraw any funds. Katz was betting tens of thousands of dollars at a time, depositing 28 times and zeroing out his account on 25 occasions, yet his rollover requirement continued to grow, ultimately topping $2.2m.

Suspecting Coinbet was employing some kind of cumulative rollover requirements, Katz contacted Coinbet support, who initially told him he “would only need to clear your CURRENT bonus, to meet rollover requirements.” The support staff went on to say they’d “never heard of ‘cumulative bonuses,’ but it certainly doesn’t sound fair or reasonable.”

But a later email from Coinbet support told a different story, saying Katz had never zeroed out his account and therefore “you’ve always been betting on a portion of bonus funds.” Seems Coinbet’s software would only display player balances in terms of dollars on the home page, while showing the true balance – which displayed dollars AND cents – on a secondary display on the transactions page.

While Katz argued that the $0 balance displayed on the home page led him to believe his account had been emptied, Coinbet insisted that his account had never actually hit absolute zero, therefore his rollover requirements continued to climb. Katz eventually convinced Coinbet support to reduce his rollover requirement to $554k, only to have the company reverse its position after getting “a lot of pushback from management about this.”

The First Rule Of Coinbet Is...

When a frustrated Katz told support he was thinking of going public with his problems, he was told that doing so would result in the immediate closure of his account. Sure enough, Katz discovered this clause in Coinbet’s Terms & Conditions:

“By joining CoinBet.cc, you agree to keep all experience, winnings, losses, payouts, disputes, and gameplay confidential and are forbidden from releasing any information publicly, including but not limited to, message boards, news agencies, forums, blogs, or other websites, without the express written consent of CoinBet.cc. Any information publicized without the express written consent of CoinBet.cc will result in immediate termination of the account in question and forfeiture of any winnings or account balances.”

Source: calvinayre.com

Nakamoto Thanks Bitcoin Donors

Dorian Nakamoto Thanks Bitcoin Donors on Youtube!

Dorian Nakamoto, the California man who is Satoshi Nakamoto but not the one the media is looking for, has appeared in a YouTube video thanking the bitcoin community for its support.


Bitcoin identity Andreas Antonopoulos organized the fundraiser as partial compensation for Nakamoto’s recent troubles, after a Newsweek cover story ‘revealed’ him to be bitcoin’s mysterious originator. The appeal has raised over 47 BTC (roughly $23,000) and Nakamoto says he plans to keep his “bitcoin account” open and become a user.

In the three-minute video, Nakamoto appears alongside Antonopoulos and holds up a copy of Newsweek’s now-infamous “Bitcoin’s Face” edition, repeating his denial that he was involved with bitcoin or its creation in any way.

“I’m sure you guys will know that Satoshi Nakamoto is not me. But Leah (Goodman) thinks so, and Newsweek said so. But it’s not true,” he says.
“I’m very thankful for all these people in the US, Europe, Asia, in South America and Africa who supported me throughout. Thank you very much. I want to hug you, this 2000 of you who donated.”

He also mocks the notion that anyone wanting to anonymously unleash the world’s most disruptive cryptocurrency to date would use their real name in online communications.

Newsweek and Nakamoto

64 year-old Nakamoto, who has suffered both unemployment and health problems in recent years, was hounded by the media after Newsweek’s cover story appeared, causing him further hardship.

Today’s video is Nakamoto’s first public statement since he hired a lawyer and made an official denial of Newsweek’s claims in late March.

Newsweek and journalist Leah Goodman say they stand by those claims that Nakamoto created bitcoin, and the research behind them. The magazine used the story to re-launch its print edition after its acquisition by new owner IBT Media, but was accused by many in the bitcoin community of rushing to release the story based on flimsy circumstantial evidence.

Source: coindesk.com

Bitcoin Regulation Roundup

Legislation, Liquidation and Rumor Mill

Regulatory attitudes towards cryptocurrencies around the world are shifting. Hardly a day goes by without a central bank issuing a warning on the digital currency. However, it’s not all bad news – as some authorities are taking a much more positive approach. 

In CoinDesk’s regulation roundup, Certified Public Accountant and ACFE Certified Fraud Examiner Jason Tyra examines the most significant digital currency news from the world’s regulators and law courts over the past two weeks.

Chinese banks stop handling bitcoin related business

The rumors are true: bitcoin related businesses with Chinese deposit accounts reported receiving verbal notices from their banks last week that transfers to exchanges would no longer be honored, causing bitcoin prices on exchanges worldwide to plunge to their lowest levels in more than six months.  Though the move was obviously centrally directed, the People’s Bank of China has yet to make an official announcement, over a week later.

Curiously, the People’s Bank of China announced on 11th April that it would not seek a ban on bitcoin.

China’s government and central bank have been ambivalent about bitcoin from the beginning, resulting in periodic rumors of an impending ban.  The spread of crypto-currency among Chinese users has often been cited as the driving force behind bitcoin’s dramatic rise during the latter half of 2013.  The Chinese government, on the other hand, is believed to see bitcoin as a threat to capital controls, while claiming that restrictions are necessary to protect Chinese banks from the risk posed by bitcoin.

Bitcoin’s price rebounded above $500 in the week following announcement of the Chinese restrictions.  Nevertheless, at least two Chinese exchanges suggested that they might consider moving to other countries if regulatory action made their businesses unsustainable.

Source: coindesk.com

The Cryptocurrencies War!

In other words the war of cryptocurrency is as simple as what is the difference between an HD DVD and a Blu-ray Disc? In a nutshell, one is a lose and the other is a winner. In the late 2000s, the two battled it out on store shelves in what is known as a format war. Which won? Here's a hint: you won't be watching Gravity on HD DVD anytime soon!

The argument in favor of war is like this! If you were to view the cryptocurrenncy format from this perspective, bitcoin would be the clear front-runner. A few other coins- dogecoin, peercoin, and litecoin - would be trailing close behind. There might be other legitimate contenders in the near future.

The wide variety of coins may actually be hindering cryptocurrency rather than helping its cause. When HD DVD and Blu-ray were duking it out to be the industry standard, sales of both were ultimately hurt. Consumers were afraid to buy a player or discs of either one, wary they would commit to the format that eventually lost the fight.

The market for cryptocurrency involves everyone that uses money: it's everyone.

If this thinking holds true for cryptocurrencies, then the availability of so many coins may deter people (especially non-techies) from buying into any single coin. As a result, many will simply adopt a wait-and-see approach, especially as one cryptocurrency is bound to emerge on top.

Source: coindesk.com