Phoenix Technologies made an announcement on October 9th, 2013 stating that their schedule for manufacturing is earlier than expected.They have recently made an investment that will increase manufacturing of their 2nd generation ASIC Chips. The investment will also fund the cloud mining operation. The new improvements will be used to help with delivery time for bitcoin miners.
Bitcoins are illegal and that is why the FBI got involved. About 26,000 bit coins were seized from Silk Road account. The FBI plans to hold the crypted coins until the judicial process is over. Once the judicial process is over with regards to the millions of bit coins, most likely the coins will be liquidated. There are at least another $80 million of the encrypted coins in the Silk Road Account.
Since the FBI shut down Silk Road, they have seized millions in bitcoins, and online currency. However, they are having a very difficult time deciding what to do with the bitcoins given that they only exist on the internet. With limited options, questions about whether bitcoins are real currency or not and whether bitcoins have a future are building.
Bloomberg Markets magazine get an exclusive interview with the Winklevoss twins as big time Bitcoin investors. David Azar offered the two a change to meet with him regarding their excitement over the digital currency. Interest groups from all over the world are considering bitcoin as a way to transfer funds quickly. Companies like Twitter, Skype and Tumblr Inc. have also made investments in bitcoin.
There was a recent craze about the new online currency Bitcoin, but many people were afraid to use it, simply because they didn’t know what it was. Here are answers to the most common questions. One example the author mentioned is not to invest in Bitcoin just yet, but it could be a great way to safely store online purchases, such as those in games. It should be noted that this currency is just getting started, and the future is unpredictable.
The Bitcoin is growing in strength, and just recently it has seen a new wave of investors. Even though the stock tanked recently, many believe it is the next big thing, with hundreds of companies starting to use the online currency. However, since the currency is not backed by a government of bank, it has seen it’s stock drop and rally very dramatically, as people think of whether this idea really could work.
Politicians rely on donations, cash and other means of money, when they get ready to run for office, bitcoin donations are may be a thing of the past. FEC is considering changing bitcoin from a legal form of campaigning to no more. Bitcoin is virtual money making it hard to control real donations or contributions.
Silk Road a black market website devoted to buying illegal drugs was shut down by the FBI. Approximately 26,000 Bitcoins were taken, each worth $123 dollars before the seizure. After the website was shutdown, Bitcoins value dropped to around $100 a coin. In total, $3.2 million dollars worth of Bitcoins were taken from Silk road during the bust.
China is gradually showing interest in bitcoin payments as a virtual way to accept cash contributions. The process is slow and not everyone accepts bitcoin, however in some areas the method is starting to catch on. Some of these companies offer cheaper products or services. Yesbtc is an escrow company who is using bitcoin as a faster way to access funds for both buyers and sellers.
Two very infuential figures in the Bitcoin world said that eventually, Bitcoin could become a nation’s official currency. Bitcoin is a currency that is strictly online, and is used mostly in computer games now. The market value shifts greatly, but if it becomes stable, these brothers believe it could be the next big thing, and match up to other currency.