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Johnny Roquemore trades crypto-currencies. He’ll trade Bitcoin, NameCoin, and even Dogecoin. Anything that has volatility and is purely digital.

And now he’s playing with winnings, Roquemore explains in a video interview with our contributor Bitcoin Leah.

It’s not for the faint of heart, says Roquemore. He’s purchased Bitcoin at prices ranging from $400 to $950, and he’s traded alternative crypto currencies that have been targets of theft and scams.

But for Roquemore, whose primary occupation is in the adult entertainment industry, trading cryptocurrencies is addictive.

Watch the interview and if you like it, send Bitcoin Leah a tip at 3NM4DLjDQ7AnQaDVjua8crWJXgdqwPwaV8.

Also follow @BitcoinLeah on Twitter to keep up with her interviews!

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Sometimes videos are best way to learn about new things. We’ve selected two of the best introductory videos on Bitcoin and included them here.

First, here’s a fun video with a brief primer on Bitcoin, created by Funk-e in collaboration with Bitonic.

For a more advanced video overview, check out this excellent, detailed tutorial by Scott Driscoll who blogs at ImponderableThings.com

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Complete MasterCoin Specification Released

J.R. Willett, aka dacoinminster, is a Seattle-based software engineer and Bitcoin expert. Like many in the Bitcoin community, he sees a future where Bitcoin is adopted by the mainstream for a wide variety of purposes. To achieve that goal, Willett believes that there’s more work to be done around the Bitcoin protocol.

After 2 years of research and discovery, Willett has released a complete specification for building a protocol layer on top of Bitcoin, similar to how HTTP runs on top of TCP/IP. He calls the new protocol MasterCoin.

The coins of the new layer have
•   Additional security features to make your money much harder to steal
•   Built-in support for distributed betting (no need to trust a website to coordinate bets)
•   Capability to hold a stable user-defined value, such as an ounce of gold or U.S. Dollar, with no need to trust a person promising to back up that value

The name of the new protocol layer is “MasterCoin” and it is 100% message-based, meaning that it encodes all its protocol data as hidden messages in the block chain which have special meanings, such as placing a bet, or transferring MasterCoins to another address.

Once you own MasterCoins, you have the building blocks for creating GoldCoin, USDCoin, EuroCoin, and any other real-world asset. These child currencies will then be “meta stable” (holding their values as long as they remain sufficiently backed by MasterCoins held in escrow). Their target values are maintained by protocol actions which control the available supply.

Here is the complete MasterCoin specification.

Willett is inviting early adopters to purchase MasterCoins by sending Bitcoins to the Exodus Address: 1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P. These funds will be used for development of software implementing the MasterCoin protocol.

For more information, read or join the discussion at bitcointalk and Reddit.

Below is a video of J.R. Willett speaking on a Bitcoin expert panel in May 2013.

CC image by zcopley

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Lamassu Bitcoin ATM: Turn Cash into Bitcoins in Seconds

Bitcoin startup Lamassu Bitcoin Ventures has launched an ATM that turns cash into Bitcoin in under 15 seconds. In the video below, 3 simple steps are demonstrated:

1. Scan your Bitcoin QR code.
2. Insert cash.
3. Send Bitcoins.

The Lamassu Bitcoin machine was demonstrated at the BTC London conference as the first Bitcoin ATM ever outside the United States, reprogrammed of course to accept British sterling (GBP).

“The Bitcoin Machine was always meant as a global solution, and we’re thrilled to be able to demonstrate our machine in London, converting pounds sterling to Bitcoin,” said Lamassu co-founder Zach Harvey in a release on PR Web. “Talking about the economic and technological advantages of Bitcoin is a lot to wrap your head around, but experiencing the power of Bitcoin via our machine only takes six seconds. Even without prior knowledge of Bitcoin, it’s a wow factor.”

Here are the key features of the machine:

• Fiat to Bitcoin in fifteen seconds
• Accepts notes from over 200 countries
• Compatible with leading exchanges, such as Mt.Gox and Bitstamp
• Coded and audited by network security experts
• Intuitive and simple user interface
• Internal steel vault is securely bolted to wall, stand, or countertop
• Web-based back end
• Sub-second QR code scanning
• License-free
• Compact desktop size (13” W × 17” H × 10” D)

Lamassu has reportedly been contacted by more than 60 potential distributors in over 30 countries, including China, Canada, Libya, Cyprus, Kenya, Israel, the United Kingdom, Australia, Denmark and Switzerland, and expects production of the Bitcoin Machines to begin this fall.

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According to a Wall Street Journal report, state regulators have issued warnings to a handful of Bitcoin-related companies, alerting them that they may be running afoul of money-transmission laws.

As the video below explains, because you can be largely anonymous in these transactions, there is concern that virtual currency can be used for money laundering or other illegal activities.

One of the companies identified as having received a warning is BitInstant. We also reported last week that the State of California issued a cease and desist letter to the Bitcoin Foundation.

We’ll be following this story closely.

CC image by by zcopley

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