With MtGox effectively dead, Bitcoin can now enter the third stage of evolution, explains BitGo CEO Will O'Brien in an extensive essay. More »

Erik Voorhees, a respected Bitcoin entrepreneur who created SatoshiDice and now runs Coinapult, shares his views about MtGox and the future of Bitcoin. More »

Hollywood could learn a lot from Silk Road 2 about heightening stakes and creating suspense in this epic whodunnit thriller where 4000 bitcoins were stolen! More »

In this extensive video, Bitcoin Leah interviews Brock Pierce, Alan Meckler, Sam Cole, and companies including BitGo, GoCoin, Lamassu and more. More »

 

The House Doesn’t Always Win in Bitcoin Gambling

Bitcoin Gambler Wins 7000 BTC in Rollercoaster Ride Online

Bitbetex Bitcoin Gambling

One Bitcoin gambler had a rollercoaster ride of a gambling session and ended up on top of the casino, as reported by news.com.au:

Just-Dice.com, a European-based cybercasino offering a set of dice games played for the highly valuable digital currency Bitcoin, has been on a roller coaster ride.

Nakowa’s gambling began badly. His weekend started on a losing streak that made Just-Dice richer than it had ever been, causing the site to hit its highest single profit point of all time (7,000 bitcoins or $862,400 on hand), according to multiple witnesses.

However, as Nakowa – who has been called “fearless” – continued playing, a big swing hit hard. By Monday morning, Just-Dice.com’s on hand profit had been erased completely. It currently sits about $264,200 (2,000 bitcoins) in the red and sinking fast, waiting to be replenished by the casino’s savings account worth about $5.6 million.

Black Arrow Offers Pre-Orders for New Bitcoin Mining Hardware

Black Arrow announces 28nm 64Ghash Bitcoin ASIC as low as $1.99/Ghash

Black Arrow Ltd, a software and hardware development company focused on high quality products, has launched and is taking pre-orders for its Prospero Bitcoin Mining Machines and its Bitcoin ASIC codenamed “the Minion”. The first orders are expected to be shipped at the end of February 2014.

Black Arrow calls itself an “ambitious, fast growing software and hardware engineering company focused on delivering high quality and reliable products,” and has sold Bitcoin mining hardware at competitive prices.

Black Arrow Bitcoin Mining Prospero X3

In a press release, the company stated that its expertise in software engineering, hardware design, manufacture and customer support lead to develop solutions and answers for the needs of their clients. These solutions combined with today’s most advanced lithography, warrants the customers to get highest and most reliable mining revenue, reduced operating costs and an overall higher customer satisfaction.

Black Arrow further promised to do its best to offer lower retail price than its competitors and guarantees that in the eventuality of a price decrease before shipment, all preorders will benefit of a proportional increase in hashing power. For this reason the customers who have been with us from the beginning will always receive the best deals.

The Prospero line includes two types of crypto currencies mining hardware products: one to be used at home and one built for datacenters.

Black Arrow Bitcoin Mining Prospero X1

Prospero for home (X-1) features a compact and stackable design, out of the box functionality, Ethernet connectivity and friendly UI. It will have a performance of 64 Ghash/second. This product sells has a list price of $319 but is on sale for 25% off.

Prospero for datacenter (X-3) is designed for high performance mining, will be fully rack-able, have out of the box functionality, Ethernet connectivity and friendly UI. It will have a performance of 1300 Ghash/second. This product has a list price of $5,299 and is also selling for a 25% discount.

Black Arrow will start shortly taking preorders and offers 25% discount on all pre-orders paid in September and October. Today, using the 25% discount, one can buy a Prospero X-1 for $239 and Prospero X-3 for $3,999.

At today’s Bitcoin price and network hashing rate, X-1 would return $682 in 15 days and X-3 would return $13,845 in 15 days, though the actual revenue could be lower than this by the time of shipment.

As Black Arrow promised to all the customers who trusted and worked with us from the beginning, everyone who has purchased Black Arrow’s Lancelot mining devices and wishes to exchange them against Black Arrow Prospero miners will receive $300 credit for each Lancelot exchanged.

Black Arrow Bitcoin Mining Minion ASIC

The Minion ASIC which is the heart of the Prospero mining machines and is based on the performance and features demanded by Bitcoin mining: highest efficiency and lowest cost. It is developed by Black Arrow and VeriSilicon, a leading Custom Silicon Solutions and Semiconductor IP provider. The Minion will be 1,500 times more efficient in Bitcoin Mining than today’s fastest video card and it will be capable of scanning 64Ghash every second (roughly equivalent is 416Gflops). This design has been chosen to offer highest reliability, lowest power consumption and cost. Black Arrow is not making the biggest chip in the industry but exactly this design ensures highest reliability in case of a Minion breakdown.

Learn more at Black Arrow.

Croatian-Based BitKonan Launches Bitcoin Trading Platform

New Croatian Bitcoin Trading Platform Enters the Market

The Bitcoin exchange and Bitcoin trading platform continues to grow. With incumbents like Mt.Gox, Tradehill, and TradeRush, is there room for another entrant? Croatian-based BitKonan thinks there is.

BitKonan is a new Bitcoin trading platform that allows speculators and Bitcoiners worldwide to trade Bitcoin for US dollars. CEO Sime Bakic encourages one and all, experienced and novice, to “Trade Bitcoins like a pro.”

Bakic entices traders with a low flat trading fee of just 0.29%. “Bitcoin speculation is going to be a very competitive industry and we are ready to compete,” said Bakic, from his headquarters in Split, Croatia.

BitKonan Bitcoin Trading Platform Croatia

Protecting Traders from Volatility

Bitcoin is a volatile currency. Traders at BitKonan can insulate themselves from declines in Bitcoin value with preset stop-loss orders. Traders can also preset stop limit orders to enter the market above or below the current market price in order to trade breakouts. Given the present reality of Bitcoin price movements, small or vast fortunes can be made or squandered in a Split second.

“Speculators need to be able to strike with the speed of a cobra on performance enhancing drugs” said the company. “BitKonan enables that with its lightning fast rapid order entry system.”

BitKonan is backed by the registered Croatian company RES REI J.D.O.O, Bakic has used venture capital to hire a team of programmers. These programmers have developed the trading platform in-house, including BitKonan’s API. Every aspect of BitKonan has been designed with the needs of day trader’s in mind; one of BitKonan’s co-owners has over a decade of experience trading on mainstream stock and commodity exchanges such as the CME. NYMEX and DAX. This experience has been turned to the task of delivering the best possible trading experience at BitKonan.

Details regarding BitKonan’s API can be found here. Answers to FAQs can be found here.

Bakic is very excited about the BitKonan Bitcoin trading platform and vows to “bring higher standards to Bitcoin trading.” As the Bitcoin boom continues unabated other trading platforms will certainly be established. But they will face stiff competition from the likes of Bakic; with BitKonan’s professionalism, security and ease of use setting it apart from the competition and making a real contribution to the liquidity of the global Bitcoin ecosystem.

To learn more about BitKonan, go to: http://BitKonan.com

CoinDesk Launches Bitcoin Price Index to Consolidate Exchange Spread

Bitcoin news source CoinDesk has launched a price index, intended to consolidate the prices Bitcoin is traded at across various exchanges.

CoinDesk

The CoinDesk index represents an average of leading global Bitcoin exchanges but the formula is flexible enough to maintain only those exchange rates that conform to certain minimum criteria for price discovery and validity. Initially, those specific criteria are defined as:

(a) exchange must serve an international customer base;

(b) minimum trade size must be less than 1,500 USD or equivalent;

(c) banking transfers in or out of the exchange must be completed within seven days without special fees.

CoinDesk wrote on the occasion, “Mr. Charles Dow and Mr. Edward Jones probably felt this way at the launch of their now-famous average,” humbly comparing their new Bitcoin index to the Dow Jones Industrial Average, a stock market index originally conceived in 1896.

Here is an example of the spread between different Bitcoin exchanges.

CoinDesk Index Launches

 

This index has the potential to provide a single price to investors tracking the alternative currency.

CoinDesk is a news site launched in May 2013.

 

Top Bitcoin News Last Week: Winklevoss, TC Disrupt, Canada ATMs, Art

Bitcoin News

A roundup of the top Bitcoin news from September 9 to September 15:

TechCrunch Disrupt Panel Winklevoss Naval Ravikant

Tuesday, September 10

Thursday, September 12

Saturday, September 14

Sunday, September 15