Month: November 2014

How to: Minimize Bitcoin Risk and Maximizing Security

Playing Smart: Minimize Bitcoin’s Risk As bitcoin increasingly gains mainstream attention, people have begun to feel more secure with bitcoin investments. Much of this increased security has come from high profile closures of fraudulent and illegal activity involving bitcoin; most famously the Silk Road seizure and Butterfly Labs. We believe these shutdowns to be positive, increasing government …

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Bitcoin Theft: The Issue Persists

Arm yourself with Knowledge and Further Safeguard your Bitcoins Bitcoin and cryptocurrencies at this point in time are not without their own sets of limitations and downsides. There have been numerous instances of individual wallets or entire exchanges being the victim of theft. Most large scale thefts occur at exchanges or online wallet services that …

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Industrial level Bitcoin Mining Accidents: Thailand

This is what a bitcoin mining accident looks like.  A bitcoin mining facility in Thailand has been destroyed in a massive fire this week and foul play has not been ruled out, according to a local source. The 5-megawatt farm was operated by mining cooperative Cowboyminers and primarily relied on Spondoolies-Tech and Innosilicon hardware, with some …

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SEC Verifies Bitcoin Savings and Trust a Ponzi Scheme

Bitcoin Savings & Trust; First bitcoin ponzi A few years back, a supposed Hedge Fund called the Bitcoin Savings & Trust (updated from its previous name “First Pirate Savings & Trust) was eventually met with its untimely demise and shut down. See how to identify a ponzi. A recent final judgment obtained by the U.S. Securities & Exchange Commission  against …

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Tim Draper Wins Seized Bitcoin Auction, Now What?

Tim Draper took home 30,000 bitcoin in a federally-sponsored auction of seized bitcoins this past summer. Draper a venture capitalist, bought a full lot of 29,656 bitcoins from the government a few months back in an anonymous auction by the U.S. Marshall service. The auction received 63 offers from 45 registered bidders and the entire …

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CoinURL Review: Make Bitcoin for Ad Space

CoinURL Gives you Bitcoin to Share Shortened Links CoinURL is one of the oldest and most well-known advertising and URL shortening website. You may have seen shortened links using cur.lv and adf.ly on Twitter before, Adfly is another popular site with the same premise. People are paid satoshi everytime someone clicks those links, just for a …

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Where did the Silk Road Bitcoin go?

Where did the Silk Road seized bitcoin go? Who are among the largest holders of Bitcoins out there? Well to start the U.S. government about late last year came across a large amount. When the authorities closed down the Silk Road online marketplace for sale of black market goods and services it seized the bitcoins …

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CEX.IO Review: Hype or Revolution?

Cex.io Review: Is CEX.io Really a Revolutionary Exchange? Cryptocrooks is reviewing a variety of bitcoin/cryptocurrency exchanges. Is the cryptocurrency exchange CEX.IO. and affiliated company contract mining service GHash.IO worth using as a main exchange? CEX.IO is a cryptocurrency exchange allows you to trade between several alt coin pairings and global currency pairings. CEX.IO and GHash.IO …

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