Study: 45% of Bitcoin Exchanges Currently Failing

…and that probably doesn’t necessarily mean 55% are working correctly…Scary to think about…Thanks to The Gotham Blog for the post…

The Gotham Blog

Wired UK reports on an interesting study that shows 45% of Bitcoin exchanges (web-driven exchanges that offer a service of changing Bitcoins into other fiat currencies, or back again) have failed.

Granted, the sample size is relatively small, given the short time Bitcoin has been circulating, but digging deeper into the numbers is even more surprising. Of the 40 exchanges examined, 18 have gone out of business. Of those 18, 13 of them closed without warning, and the other five closed after suffering security breaches that forced them to close.

The most important point to make here is that of the 18 closures, only six have reimbursed their customers so far.

The four largest surviving exchanges are seeing a constant barrage of cyber-attacks. The study said: “Exchanges handling 275 Bitcoins’ worth of transactions each day have a 20 percent chance of being breached, compared to a 70 percent chance for…

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Jobs That Don’t Even Exist Yet

How do you prepare for an interview for a job that doesn’t even exist yet? Seem tough, but very true…Thanks to You Do What?! for the post…

You Do What?!

In today’s ever changing landscape there are certain jobs that have become obsolete as new technology has advanced. Well, the same thing applies for jobs that don’t even exist yet. So how does someone even study something that doesn’t exist? Well there is hope! A lot of what someone learns in college can be applied to other areas that will eventually be in hot demand.

Some jobs coming to the forefront are 3D printing engineers and alternative currency bankers, which a lot of people are saying will be very in demand by 2020. We are already seeing a lot of discussion about BitCoin, a type of digital currency, and how some retailers are adopting this form of currency alongside paper money. And according to Javelin Strategies, 20% of all online trades is done with alternative currency. And 3D printing is a hot topic right now since artists, architects and engineers are using…

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Free Bitcoins? Is it True? (Follow Up #2)

So far I am up to .0008424 BTC on my Free Bitcoin expedition. This seems to be legit so I would recommend it to anyone looking to ease (very slowly) into the Bitcoin world. http://www.bitvisitor.com is a site that offers free Bitcoins (uBTC) to those who follow the directions and basically just open a link and look around the site that opens for 5 minutes. After 5 minutes you can open a new one and collect more. There are only a certain amount of affers per day you can view so it will take a while to earn a relevant amount of Bitcoins.

The actual amount of Bitcoins earned is minor, uBTC, is a fraction of 1 whole bitcoin, but after a while it starts to add up. I am hoping to eventually earn 1 Bitcoin for free from this site and it seems so far that I am on pace by around the end of the year haha. Hey, it’s free so how can you beat it. I will keep you up to date with my progress.

From Bitcoin Miners To Bitcoin Millionaires

Mobile Marketing Insider

Behind every successful business lay the geniuses and the living legends who took the risk of inventing something pioneering.  In this case, the Bitcoin system is the pioneer in electronic currency.

When the Bitcoin system was first introduced four years ago, people did not believe it.  They did not believe in the staying power of this electronic money.  Now these early Bitcoin miners are not labeled crazy, they are labeled as “The Bitcoin Millionaires.”

Bitcoin Millionaires..

Jared Kenna was a former marine soldier before getting into the Bitcoin industry.  He is founder and CEO of Tradehill, the second largest exchange platform.  Jared is one of the first Bitcoin investors and once accidentally deleted 800 Bitcoins.

Charlie Shrem got his first 500 Bitcoins valued at $4 when he was a senior at Brooklyn College.  Now he is the CEO of a transfer service called Bitinstant.  

 

 

 

 

 

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Bitcoin is being used to buy food and drink

The value of money

The digital currency Bitcoin has increased dramatically in the last few weeks, Bitcoin-coinsdividing opinion. Some see it as a new world currency that will destroy the power of the big banks, while others see it as a dangerous bubble. The main problem with Bitcoin, up to now at least, is that it has had a virtual value – there were not many actual goods you could buy with it.

That seems to be changing. In the area of Kreuzberg in Berlin district of Kreuzberg, as this 7-minute film shows, Bitcoin is being traded as an alternative local currency and is used to buy ordinary tangible products: food, drink, vinyl records.

QR on phoneThe traders in this young, bohemian community use mobile phones and ipads with QR codes to trade their Bitcoins.

One platform used is EasyWallet.org.

Bitcoin is particularly popular with people from countries suffering badly in the recession – Spain…

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