Saint Louis Bitcoin Atm Locations. 24 Hour Locations ...

List of Physical Stores where you can Buy or Sell bitcoin

There are a number of foreign currency exchanges and other places where there's a "storefront"/branch and an actual teller or other staff where you can just walk up and do a bitcoin buy and/or sell. But I don't think there's ever been a list of them compiled. Lots of location discoveries get shared on social media, like this one, bu there is just no comprehensive list anywhere. So that's what I'ld like to do here. If you know of a location please comment with the name or some details.
Physical stores and Trading Spaces
Europe, Middle East, and Africa:
North America:
Asia-Pacific:
Vouchers (retail)
Gift Cards
Vending
Hardware wallet sales locations (Note: It's always more secure to buy direct from the manufacturer)
There are also over-the counter (OTC) traders, who may or may not have a fixed location, but are not considered to be "physical stores":
Please share your additions, corrections, or comments.
submitted by cointastical to Bitcoin [link] [comments]

Bitcoin Mining & The Beauty Of Capitalism

Authored by Valentin Schmid via The Epoch Times,
While the price of bitcoin drops, miners get more creative... and some flourish.
The bitcoin price is crashing; naysayers and doomsayers are having a field day. The demise of the dominant cryptocurrency is finally happening — or is it?
Bitcoin has been buried hundreds of times, most notably during the brutal 90 percent decline from 2013 to 2015. And yet it has always made a comeback.
Where the skeptics are correct: The second bitcoin bubble burst in December of last year and the price is down roughly 80 percent from its high of $20,000. Nobody knows whether and when it will see these lofty heights again.
As a result, millions of speculators have been burned, and big institutions haven’t showed up to bridge the gap.
This also happened on a smaller scale in 2013 after a similar 100x run-up, and it was necessary.

Time to Catch Up

What most speculators and even some serious proponents of the independent and decentralized monetary system don’t understand: Bitcoin needs these pauses to make improvements in its infrastructure.
Exchanges, which could not handle the trading volumes at the height of the frenzy and did not return customer service inquiries, can take a breather and upgrade their systems and hire capable people.
The technology itself needs to make progress and this needs time. Projects like the lightning network, a system which delivers instant bitcoin payments at very little cost and at virtually unlimited scale is now only available to expert programmers.
A higher valuation is only justified if these improvements reach the mass market.
And since we live in a world where everything financial is tightly regulated, for better or worse, this area also needs to catch up, since regulators are chronically behind the curve of technological progress.
And of course, there is bitcoin mining. The vital infrastructure behind securing the bitcoin network and processing its transactions has been concentrated in too few hands and in too few places, most notably China, which still hosts about 70 percent of the mining capacity.

The Case For Mining

Critics have always complained that bitcoin mining consumes “too much” electricity, right now about as much as the Czech Republic. In energy terms this is around 65 terawatt hours or 230,000,000 gigajoules, costing $3.3 billion dollars according to estimates by Digiconomist.
For the non-physicists among us, this is around as much as consumed by six million energy-guzzling U.S. households per year.
All those estimates are imprecise because the aggregate cannot know how much energy each of the different bitcoin miners consumes and how much that electricity costs. But they are a reasonable rough estimate.
So it’s worth exploring why mining is necessary to begin with and whether the electricity consumption is justified.
Anything and everything humans do consumes resources. The question then is always: Is it worth it? And: Who decides?
This question then leads to the next question: Is it worth having and using money? Most people would argue yes, because using money instead of barter in fact makes economic transactions faster and cheaper and thus saves resources, natural and human.

_Merchants exchange goods with the inhabitants of Tidore, Indonesia, circa 1550. Barter was supplanted by using money because it is more efficient. (Archive/Getty Images)_If we are generously inclined, we will grant bitcoin the status of a type of money or at least currency as it meets the general requirements of being recognizable, divisible, portable, durable, is accepted in exchange for other goods and services, and in this case it is even limited in supply.
So having any type of money has a price, whether it’s gold, dollar bills, or numbers on the screen of your online banking system. In the case of bitcoin, it’s the electricity and the capital for the computing equipment, as well as the human resources to run these operations.
If we think having money in general is a good idea and some people value the decentralized and independent nature of bitcoin then it would be worth paying for verifying transactions on the bitcoin network as well as keeping the network secure and sound: Up until the point where the resources consumed would outweigh the efficiency benefits. Just like most people don’t think it’s a bad idea to use credit cards and banks, which consume electricity too.
However, bitcoin is a newcomer and this is why it’s being scrutinized even more so than the old established players.

Different Money, Different Costs

How many people know how much electricity, human lives, and other resources gold mining consumes or has consumed in the course of history? What about the banking system? Branches, servers, air-conditioning, staff? What about printing dollar notes and driving them around in armored trucks?
What about the social effects of monetary mismanagement of bank and government money like inflation as well as credit deflations? Gold gets a pass here.
Most people haven’t asked that question, which is why it’s worth pointing out the only comprehensive study done on the topic in 2014. In “An Order of Magnitude” the engineer Hass McCook analyzes the different money systems and reaches mind-boggling conclusions.
The study is a bit dated and of course the aggregations are also very rough estimates, but the ball park numbers are reasonable and the methodology sound.
In fact, according to the study, bitcoin is the most economic of all the different forms of money.
Gold mining in 2014 used 475 million GJ, compared to bitcoin’s 230 million in 2018. The banking system in 2014 used 2.3 billion gigajoules.
Over 100 people per year die trying to mine gold. But mining costs more than electricity. It consumes around 300,000 liters of water per kilogram of gold mined as well as 150 kilogram (330 pounds) of cyanide and 1500 tons of waste and rubble.
The international banking system has been used in all kinds of fraudulent activity throughout history: terrorist financing, money laundering, and every other criminal activity under the sun at a cost of trillions of dollars and at an order of magnitude higher than the same transactions done with cryptocurrency and bitcoin.
And of course, while gold has a relatively stable value over time, our bank and government issued money lost about 90 percent of its purchasing power over the last century, because it can be created out of thin air. This leads to inflation and a waste of physical and human resources because it distorts the process of capital allocation.

_The dollar has lost more than 90 percent of its value since the creation of the Federal Reserve in 1913. (Source: St. Louis Fed)_This is on top of the hundreds of thousands of bank branches, millions of ATMs and employees which all consume electricity and other resources, 10 times as much electricity alone as the bitcoin network.
According to monetary philosopher Saifedean Ammous, author of “The Bitcoin Standard,” the social benefit of hard money, i.e. money that can’t be printed by government decree, cannot even be fathomed; conversely, the true costs of easy money—created by government fiat and bank credit—are difficult to calculate.
According to Ammous, bitcoin is the hardest money around, even harder than gold because its total supply is capped, whereas the gold supply keeps increasing at about 1-2 percent every year.
“Look at the era of the classical gold standard, from 1871, the end of the Franco–Prussian War, until the beginning of World War I. There’s a reason why this is known as the Golden Era, the Gilded Age, and La Belle Epoque. It was a time of unrivaled human flourishing all over the world. Economic growth was everywhere. Technology was being spread all over the world. Peace and prosperity were increasing everywhere around the world. Technological innovations were advancing.
“I think this is no coincidence. What the gold standard allowed people to do is to have a store of value that would maintain its value in the future. And that gave people a low time preference, that gave people the incentive to think of the long term, and that made people want to invest in things that would pay off over the long term … bitcoin is far closer to gold. It is a digital equivalent of gold,” he said in an interview with The Epoch Times.
Of course, contrary to the gold standard that Ammous talks about, bitcoin doesn’t have a track record of being sound money in practice. In theory it meets all the criteria, but in the real world it hasn’t been adopted widely and has been so volatile as to be unusable as a reliable store of value or as the underlying currency of a productive lending market.
The proponents argue that over time, these problems will be solved the same way gold spread itself throughout the monetary sphere replacing copper and seashells, but even Ammous concedes the process may take decades and the outcome is far from certain. Gold is the safe bet for sound money, bitcoin has potential.
There is another measure where bitcoin loses out, according to a recent study by researchers from the Oak Ridge Institute in Cincinnati, Ohio.
It is the amount of energy expended per dollar for different monetary instruments. One dollar worth of bitcoin costs 17 megajoules to mine versus five for gold and seven for platinum. But the study omits the use of cyanide, water, and other physical resources in mining physical metals.
In general, the comparisons in dollar terms go against bitcoin because it is worth relatively less, only $73 billion in total at the time of writing. An issue that could be easily fixed at a higher price, but a higher price is only justified if the infrastructure improves, adoption increases, volatility declines, and the network proves its resilience to attacks over time.
In the meantime, market participants still value the fact they can own a currency independent of the government, completely digital, easily fungible, and limited in supply, and relatively decentralized. And the market as a whole is willing to pay a premium for these factors reflected in the higher per dollar prices for mining bitcoin.

The Creativity of Bitcoin Mining

But where bitcoin mining lacks in scale, it makes up for it in creativity.
In theory—and in practice—bitcoin mining can be done anywhere where there is cheap electricity. So bitcoin mining operations can be conducted not where people are (banking) or where government is (fiat cash) or where gold is (gold mining)—it can be done everywhere where there is cheap electricity
Some miners are flocking to the heat of the Texan desert where gas is virtually available for free, thanks to another oil revolution.
Other miners go to places where there is cheap wind, water, or other renewable energy.
This is because they don’t have to build bank branches, printing presses, and government buildings, or need to put up excavators and conveyor belts to dig gold out of the ground.
All they need is internet access and a home for the computers that look like a shipping container, each one of which has around 200 specialized bitcoin mining computers in them.
“The good thing about bitcoin mining is that it doesn’t matter where on earth a transaction happens, we can verify it in our data center here. The miners are part of the decentralized philosophy of bitcoin, it’s completely independent of your location as well,” said Moritz Jäger, chief technology officer at bitcoin Mining company Northern Bitcoin AG.

Centralized Mining

But so far, this decentralization hasn’t worked out as well as it sounds in theory.
Because Chinese local governments had access to subsidized electricity, it was profitable for officials to cut deals with bitcoin mining companies and supply them with cheap electricity in exchange for jobs and cutbacks. Sometimes the prices were as low as 2 dollar cents to 4 dollar cents per kilowatt hour.
This is why the majority of bitcoin mining is still concentrated in China (around 70 percent) where it was the most profitable, but only because the Chinese central planners subsidized the price of electricity.
This set up led to the by and large unwanted result that the biggest miner of bitcoin, a company called Bitmain, is also the biggest manufacturer of specialized computing equipment for bitcoin mining. The company reported revenues of $2.8 billion for the first half of 2018.

Tourists walk on the dunes near a power plant in Xiangshawan Desert in Ordos of Inner Mongolia, in this file photo. bitcoin miners have enjoyed favorable electricity rates in places like Ordos for a long time. (Feng Li/Getty Images)Centralized mining is a problem because whenever there is one player or a conglomerate of players who control more than 50 percent of the network computing power, they could theoretically crash the network by spending the same bitcoin twice, the so called “double spending problem.“
They don’t have an incentive to do so because it would probably ruin the bitcoin price and their business, but it’s better not to have to rely on one group of people controlling an entire money system. After all, we have that exact same system with central banking and bitcoin was set up as a decentralized alternative.
So far, no player or conglomerate ever reached that 51 percent threshold, at least not since bitcoin’s very early days, but many market participants always thought Bitmain’s corner of the market is a bit too close for comfort.
This favorable environment for Chinese bitcoin mining has been changing with a crack down on local government electricity largess as well as a crackdown on cryptocurrency.
Bitcoin itself and mining bitcoin remain legal in China but cryptocurrency exchanges have been banned since late 2017.
But more needs to be done for bitcoin to become independent of the caprice of a centralized oppressive regime and local government bureaucrats.

Northern Bitcoin Case Study

Enter Northern Bitcoin AG. The company isn’t the only one which is exploring mining opportunities with renewable energies in locations other than China.
But it is special because of the extraordinary set up it has for its operations, the fact that it is listed on the stock exchange in Germany, and the opportunities for scaling it discovered.
The operations of Northern Bitcoin combine the beauties of bitcoin and capitalism in one.
Like Texas has a lot of oil and free gas and it makes sense to use the gas rather than burn it, Norway has a lot of water, especially water moving down the mountains due to rainfall and melting snow.
And it makes sense to use the power of the movement of the water, channel it through pipes into generators to create very cheap and almost unlimited electricity. Norway generates north of 95 percent of its total electricity from hydropower.

A waterfall next to a hydropowerplant near Sandane, Norway, Oct. 25, 2018. (Valentin Schmid/The Epoch Times)Capitalism does not distinguish between renewable and fossil. It uses what is the most expedient. In this case, it is clearly water in Norway, and gas in Texas.
As a side note on the beauties of real capital and the fact that capital and the environment need not be enemies, the water in one of the hydropowerplants close to the Northern Bitcoin facility is piped through a generator made in 1920 by J.M. Voith AG, a company from Heidenheim Germany.
The company was established in 1867 and is still around today. The generator was produced in 1920 and is still producing electricity today.

Excess Power

In the remote regions of Northern Norway, there aren’t that many people or industry who would use the electricity. And rather than transport it over hundreds of miles to the industrial centers of Europe, the industries of the future are moving to Norway to the source of the cheap electricity.
Of course, it is not just bitcoin mining, but other data and computing heavy operations like server farms for cloud computing that can be neatly packaged into one of those containers and shipped up north.
“The containers are beautiful. They are produced in the middle of Germany where the hardware is enabled and tested. Then we put it on a truck and send it up here. When the truck arrives on the outside we lift it on the container vehicle. Two hours after the container arrives, it’s in the container rack. And 40 hours later we enable the cooling, network, power, other systems, and it’s online,” said Mats Andersson, a spokesman for the Lefdal Mine data center in Måløy, Norway, where Northern Bitcoin has its operations. Plug and play.

A Northern Bitcoin data container inside the Lefdal Mine data center, in Måløy, Norway. (Northern Bitcoin)If the cheap electricity wasn’t enough—around 5 cents per kilowatt hour compared to 17 cents in Germany—Norway also provides the perfect storage for these data containers, which are normally racked up in open air parks above the ground.
Also here, the resource allocation is beautiful. Instead of occupying otherwise useful and beautiful parcels of land and nature, the Northern Bitcoin containers and others are stored in the old Lefdal olivine mine.
Olivine is a mineral used for steel production and looks green. Very fitting. Hence also the name of the data center: Lefdal Mine.
“We take the green mineral out and we take the green IT in,” said Andersson.

Efficiency, Efficiency

Using the old mine as storage for the data center makes the whole process even more resource efficient.
Why? So far, we’ve only been talking about bitcoin mining using a lot of energy. But what for? Before you have actually seen the process in action—and it is similar for other computing operations—you cannot imagine how bizarre it is.
Most of the electricity is used to prevent the computers from overheating. So it’s not even the processors themselves; it’s the fans which cool the computer that use the most juice.
This is where the mine helps, because it’s rather cool 160 meters (525 feet) below sea level; certainly cooler than in the Texas desert.
But it gets even better. On top of the air blow-cooling the computer, the Lefdal data center uses a fresh water system to pump through the containers in pipes.
The fans can then circulate air over the cool pipes which transfer the heat to the water. One can feel the difference when touching the different pipes.
The fresh water closed circle loop then completes the “green” or resource efficiency cycle by transferring its heat to ice cold water from the nearby Fjord.
The water is sucked in through a pipe from the Fjord, the heat gets transferred without the water being mixed, and the water flows back to the Fjord, without any impact on the environment.
To top it all off, the mine has natural physical security far better than open air data centers and is even protected from an electromagnetic pulse blast because it’s underground.

_The Nordfjord near Måløy, Norway. The Lefdal data center takes the cold water from the fjord and uses it to cool the computer inside the mine. (Valentin Schmid/The Epoch Times)_Company Dynamics

Given this superlative set up, Northern Bitcoin wants to ramp up production as fast as possible at the Lefdal mine and other similar places in Norway, which have more mountains where data centers can be housed.
At the moment, Northern Bitcoin has 15 containers with 210 mining machines each. The 15 containers produce around 5 bitcoin per day at a total cost of around $2,500 dollars at the end of November 2018 and after the difficulty of solving the math problems went down by ~17 percent.
Most of it is for electricity; the rest is for leasing the containers, renting the mine space, buying and writing off the mining computers, personnel, overhead, etc.
Even at the current relatively depressed prices of around $4000, that’s a profit of $1500 per bitcoin or $7,500 per day.
But the goal is to ramp it up to 280 containers until 2019, producing 100 bitcoin per day. Again, the company is in the sweet spot to do this.
As opposed to the beginning of the year when one could not procure a mining computer from Bitmain even if one’s life depended on it, the current bear market has made them cheap and relatively available both new and second had from miners who had to cease operations because they can’t produce at low bitcoin prices.

Northern Bitcoin containers inside the Lefdal Mine data center in Måløy, Norway. (Northern Bitcoin)What about the data shipping containers? They are manufactured by a company called Rittal who is the world market leader. So it helps that the owner of Rittal also owns 30 percent of the Lefdal mine, providing preferential access to the containers.
Northern Bitcoin said it has enough capital available for the intermediate goal of ramping up to 50 containers until the end of year but may tap the capital markets again for the next step.
The company can also take advantage of the lower German corporate tax rate because revenue is only recorded when the bitcoin are sold in Germany, not when they are mined in Norway.
Of course, every small-cap stock—especially bitcoin companies—have their peculiarities and very high risks. As an example, Northern Bitcoin’s financial statements, although public, aren’t audited.
The equipment in the Lefdal mine in Norway is real and the operations are controlled by the Lefdal personnel, but one has to rely on exclusive information from the company for financials and cost figures, so buyer beware.

Norway Powerhouse?

Northern Bitcoin wants to have 280 containers, representing around 5 percent of the network’s computing power.
But the Lefdal mine alone has a capacity to power and cool 1,500 containers in a 200 megawatt facility, once it is fully built out.
“Here you have all the space, power, and cooling that you need. … Here you can grow,” said Lefdal’s Andersson.

A mine shaft in the Lefdal Mine data center in Måløy, Norway. The whole mine will have a capacity for 1500 containers once fully built out. (Valentin Schmid/The Epoch Times)The Norwegian government was behind an initiative to bring computing power to Norway and make it one of the prime destinations for data centers at the beginning of this decade.
To that effect, the local governments own part of the utility companies which operate the power plants and own part of the Lefdal Mine and other locations. But even without notable subsidies (i.e. cash payments to companies), market players were able to figure it out, for everybody’s benefit.
The utilities win because they can sell their cheap electricity close to home. The computing companies like IBM and Northern Bitcoin win because they can get cheap electricity, storage, and security. Data center operators like Lefdal win because they can charge rent for otherwise unused and unneeded space.
However, in a recent about face, the central government in Oslo has decided to remove cryptocurrency miners from the list of companies which pay a preferential tax rate on electricity consumption.
Normally, energy intensive companies, including data centers, pay a preferential tax on electricity consumed of 0.48 øre ($0.00056 ). According to a report by Norwegian media Aftenposten, this tax will rise to 16.58 øre ($0.019) in 2019 for cryptocurrency miners exclusively.
The argument by left wing politician Lars Haltbrekken who sponsored the initiative: “Norway cannot continue to provide huge tax incentives for the most dirty form of cryptocurrency output […] [bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally.”
Since Norway generates its electricity using hydro, precisely the opposite is true: No greenhouse gas emissions, or any emissions for that matter would be produced, if all cryptomining was done in Norway. As opposed to China, where mining is done with coal and with emissions.
But not only in Norway is the share of renewable and emission free energy high. According to research by Coinshares, Bitcoin’s consumes about 77.6 percent of its energy in the form of renewables globally.
However self-defeating the arguments against bitcoin mining in Norway, the political initiative is moving forward. What it means for Northern Bitcoin is not clear, as they house their containers in Lefdal’s mixed data center, which also has other clients, like IBM.
“It’s not really decided yet; there are still big efforts from IT sectors and parties who are trying to change it. If the decision is taken it might apply for pure crypto sites rather than mixed data centers, like ours,” said Lefdal’s Andersson.
Even in the worst-case scenario, it would mean an increase from ~5 cents to ~6.9 cents per kilowatt hour, or 30 percent more paid on the electricity by Northern Bitcoin, which at ~$3250 would still rank it among the most competitive producers in the world.
Coinshares estimates the average production price at $6,800 per Bitcoin at $0,05 per kilowatt hour of electricity and an 18-months depreciation schedule, but concedes that a profitable miner could “[depreciate] mining gear over 24-30 months, or [pay] less for mining gear than our estimates.”
Jäger says Northern Bitcoin depreciates the equipment over three years and has obtained very favorable prices from Bitmain, making its production much more competitive than the average despite the same cost of electricity. In addition, the natural cooling in the mine also reduces electricity costs overall.

Cheap Producer Advantage

At the moment, however, the tax could be the least of any miners worry, as the bitcoin price is in free-fall.
But what happens when the price crashes further? Suffice it to say that there was bitcoin mining when the dollar price was less than 1 cent and there will be bitcoin mining at lower prices thanks to the design of the network.
Mao Shixing, the founder of mining pool F2pool estimated 600,000 miners have shut down since the November crash in price, according to a report by Coindesk.
As it should be in a competitive system, the most energy intensive and obsolete machines are shut down first.
As with every other commodity, when the price drops, some miners will leave the market, leaving space for cheaper competitors to capture a bigger share. But with bitcoin this is a bit simpler than with copper or gold for example.
When a big copper player goes bankrupt, its competitors have to ramp up production and increase cost to increase their market share. With bitcoin, if 3,000 computers get taken off the total mining pool, they won’t be able to mine the approximately 5 bitcoin any longer.
However, because the difficulty of solving the computationally intensive cryptographic tasks of bitcoin decreases automatically when there are fewer computers engaged in the task, the other players just have to leave their machines running at the same rate for the same cost and they will split the 5 bitcoin among them.
“The moment the price goes down, our production price will go down as well,” said Jäger, a process that already happened from November to December when the difficulty decreased twice in November and the beginning of December.
This naturally favors players like Northern Bitcoin, which are producing at the lower end of the cost spectrum. They will be the ones who shut down last.
And this is a good thing. The more companies like Northern Bitcoin, and countries like Norway—even with the extra tax—the more decentralized the bitcoin system.
The more computers there are in different hands mining bitcoin, the more secure the system becomes, because it will be ever more difficult for one player to reach the 50 percent threshold to crash the system. It is this decentralized philosophy which has kept the bitcoin system running for 10 years. Whether at $1 or $20,000.
submitted by rotoreuters to zerohedge [link] [comments]

4/16/14 Video News - Nick Szabo as Satoshi, Mt. Gox liquidates, ATMs in Brazil & China

Video: http://www.moneyandtech.com/apr16-news-update/
Today's top news stories for you in Money & Tech:
The mysterious Satoshi Nakamoto has been found… again. A group of forensic linguistics experts at Aston University lead by Dr. Jack Grieve have analyzed the original Bitcoin whitepaper, comparing it to the writing of 11 individuals previously thought to be Satoshi Nakamoto. Their conclusion: former law professor Nick Szabo is the primary author of the whitepaper and therefore the probable creator, or one of the creators, of bitcoin. As Dr. Grieve put it, “The number of linguistic similarities between Szabo’s writing and the bitcoin whitepaper is uncanny... though we can’t rule out the possibility that others contributed.""
The Tokyo District Court today dismissed Mt. Gox's proposal for a civil rehabilitation proceeding, despite the recent offer from a group of industry investors to purchase and resurrect the company for the price of one Bitcoin. Instead today, Mt. Gox filed for liquidation in Tokyo court, which the exchange admitted “will create great inconvenience and concerns to our creditors for which we apologize.”
At the same time, Gox CEO Mark Karpeles has filed an emergency motion to push back his US court appearance until May 5th, which could threaten the continuation of Karpeles' US bankruptcy protections, and provide US class action lawsuit attorneys the time to do more research and build their case.
The President of the U.S. Federal Reserve Bank of Minneapolis expressed interest in digital currency at a town hall at North Dakota State University on Tuesday, saying its main interest lies in its ability for speedy payments between individuals, ”as opposed to a new currency that’s going to drive the U.S. dollar out of circulation.” This statement comes days after an economist at the Federal Reserve Bank of Chicago acknowledged that bitcoin is a “remarkable technical achievement”, and VP at the St. Louis Fed called bitcoin “a stroke of genius“.
Latin America's first bitcoin ATM landed in Brazil on Monday, at a Sao Paulo bar already accepting Bitcoin, and blocks away from international offices of Facebook, Google, J.P. Morgan and Goldman Sachs. The new Lamassu machine allows locals to convert their Brazilian Real into Bitcoin, and offers businesses like the Sao Paulo bar an option to operate without the high transactions fees typical of local banks.
In China, BTC China has installed the country's first bitcoin ATM machine as promised, located in a cafe at a mall in Shanghai, allowing people to physically change Chinese yuan into Bitcoin for the first time.
The Bitcoin Foundation and Blockchain.info have co-created the first annual Blockchain Awards to celebrate innovation and excellence in the Bitcoin community. The awards ceremony will be held in Amsterdam on May 16th at the Bitcoin 2014 conference. Nominations will be accepted today through May 6th for categories such as, Most Impactful Charity, Best ATM Design, and Bitcoin Champion.
Money & Tech’s Perianne Boring attended the recent Inside Bitcoins New York conference. We’ll be bringing you her interviews with notable industry figures this week, starting today with Blockchain.info CEO Nicholas Cary and Cryptsy CEO Paul Vernon, available here shortly.
submitted by moneyandtech to BitcoinMarkets [link] [comments]

Road to the Bitcoin Bowl

With 1900 miles and just over 24 hours travel time, the path to the Bitcoin Bowl is long but easily done. Over the next 4 days, two fearless members of the Denver Bitcoin Center are making the trip in a beat up truck, to make sure that Bitcoin users at the Bowl will have the opportunity to either buy or sell their bitcoins at a traditional style ATM. Along the way, they will be taking every chance they get to support and stop at some of the best known Bitcoin businesses to remind people that Bitcoin is here to stay.
If you don't already know, the Bitcoin Bowl in Saint Petersburg Florida is the first NCAA event were Bitcoin companies are the primary sponsors. This year we will see North Carolina State face off against University of Central Florida.
About the ATMs The two ATMs they are bringing are made by Bitaccess, a world leading Bitcoin ATM company. The ATMs allow you to purchase bitcoins by cash or a credit card. In addition, you can exchange your bitcoins for cash.
Below you can find just some of the great locations we plan too support.
Know of any excellent businesses that are on the way? Leave a comment and we would love to try to stop by.
Sister Cities Cajun and BBQ South Grand Boulelvard 4144 63118 St. Louis, MO
Flyte World Dining & Wine Division Street 718 TN 37203 Nashville website: http://www.flytenashville.com/ phone: +1 615 255 6200
Eagle's Restaurant * 16th Street North 2610 website: http://eaglesrestaurant.menufy.com/ phone: (205)320-0099
Greg's Hot Dogs * Birmingham, Alabama website: https://www.gregshotdogs.com phone: 1 (205) 492-9172
BitPay Headquarters * Piedmont Road Northeast 3432 30305 Atlanta website: https://BitPay.com phone: 1-855-4-BITPAY
Cornerstone Modern Pub House * Houston Lake Rd 1291 GA 31088 Warner Robins website: https://www.facebook.com/cornerstonemph phone: +1 478 988 0399
Stacey's Sweets * West Main Street 300 31632 Hahira website: http://sweetsbystacey.com/ phone: 229-375-9123
EDIT: Added the ability to use credit cards on the ATM, The teams who are playing in the bowl.
submitted by denverbitcoincenter to Bitcoin [link] [comments]

[Table] IAmA: Hi, I'm Kristen Christian & I started Bank Transfer Day. AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-07-26
Link to submission (Has self-text)
Questions Answers
What were some of the greatest challenges you faced when setting up Bank Transfer Day? Did any of the banks retaliate against you personally? The time commitment that was required that first month was a huge challenge. I ended up putting my life completely on hold to give the campaign the effort it deserved. There have been a handful of banking executives who have tried to discredit me, but they haven't gotten very far. There was one side effect I didn't expect— the FBI has apparently added my name to the Selectee List. I can still travel, but I'm scanned, patted, swabbed, searched & interrogated every time I fly.
That is sickening to hear. Meh. I try to keep a sense of humor about it. All you can do.
Well you annoyed the big players in the world, its a shame they have to use such tactics rather than making there companies better. Sadly, I think a sense of entitlement may be preventing these corporations from taking a hard look at how they could be more appealing to the average person.
Think of it as a pre-flight massage. Haha. Next time they pat me down I'm going to mention that I have a kink in my neck that I'd love for them to work on.
They are not entitled to anything, people can vote with their money! But you are right though. The sooner bankers realize that no one is entitled to anything he or she doesn't earn, the sooner they may be able to salvage their organizations' public image. Companies must be mindful of how their actions impact communities if they hope to receive patronage from this new civic-minded generation of consumers.
People are getting more savvy with there money. And people wont stand for any crap these days! I am from the UK and have just found one in my city that i am interested in. Thanks for doing this IAma! I didnt even knew they existed. Glad to hear from an international supporter! If you're in the UK, you may be interested in Cooperative Trust. I've been following their work since Bank Transfer Day, and it's really impressive! James Marshall, the leader of this fantastic group is based in London.
Thank you for answering this (again) I wanted it in the main Thread so everyone can see the answer. I am reviewing my options now. I am very excited to move to a Credit union and take my money away from these greedy banks. You're very welcome! Let me know if you need anything else.
Do you own or have the rights to "Bank Transfer Day?" Who owns or has rights to "Move Your Money?" CUNA owns "Everyday is Bank Transfer Day," but those other pieces? Relatedly, who maintains the Bank Transfer Day social media outlets (e.g. twitter, facebook)? Although I originated the name "Bank Transfer Day" and "Every day is Bank Transfer Day," a credit union league filed for copyright of the latter phrase without my knowledge or permission. I asked that it be turned over to CUNA so that it might be used for a national level campaign, but that never happened. I've never filed for copyright because I wanted this movement to belong to every person who supported it. Attorneys have advised that should anyone else attempt to copyright, there's adequate proof of origination. There are a couple of volunteers help curate content. They've asked to remain nameless due to the threats I've received for my involvement. I remain personally active in the social media channels as well.
Glad to hear your decision to not go the IP route. Do you have plans to formalize any sort of organizational structure? Not in the financial sector. I see access to data as a service Americans desperately need but co-operatives currently can't provide so I'm putting together a steering committee to start a national-level telecommunications co-operative. Anyone who's interested in joining the steering committee can send me a private message via Facebook.
I'm involved in an attempt to mutualize our fiber-based municipal telecom in my hometown. Are you talking about that sort of telecom, or is the aim more at the wireless market? Sort of similar. There are a handful of region-based telecommunications co-ops, but I'd like to see one on the national level to compete with the "big guys." I really like the Phone Co-op's model, and they've been kind enough to offer guidance.
What do you think about the Big Bank's lobbying Congress to remove the non-profit tax exemption from credit unions? If passed, this will crush the credit union's ability to compete against the banks. Check out Link to www.donttaxmycreditunion.org. I've been very supportive of the "#DontTaxMyCU" campaign. I think bankers must have a big brass pair to try for something like this. At the end of the day, our votes put candidates in office; no amount of campaign contributions can do that. They might have money, but 1/3 of all Americans are members of a co-operative... and that number's growing every single day.
What's it like having your first name and last name being remarkably similar? It's actually pretty awesome! People don't seem to easily forget it, telemarketers struggle to pronounce it, and people randomly sing Night Ranger at me.
Is that your married name? Or did your parents choose that combination for you? Please read back through the comments to any of the 100 times I answered this before. Thanks! :)
Why was this removed? has it been moved? I'm not sure why reddit has removed the text for other users. It's still viewable on my screen. Trying to contact moderators now.
Well when you get it figured out please let me know. Looks like they've sorted it. Phew!
Real quick, I currently have Chase, I hate them and get charged on an average of $40 in fees just to bank . How do I find a credit union to move my money to ? I am Queens , NYC I've found that the best resource for finding a credit union in America is A Smarter Choice. If you'd like, you can also comment on the Facebook wall & I'd be glad to ask for personal recommendations from other supporters.
You are super awesome , Thank you. I am looking into the A Smarter Choice now. if needed I have your Facebook added already and will post there (Facebook is how I found out about the AMA ) Glad to hear it! Please don't hesitate to ask if you need any help finding the perfect credit union for you.
Have a "big bank" contacted you and try to change your mind on your cause? I think most bankers were smart enough to know I wasn't going to change my mind or back down. The CEO of a "big bank" did call to apologize for the online behavior of one of his executives. This was after I'd emailed screenshots of the posts and proof of the person's employment to the CEO & members of major media.
Do you have a financial background? If you had a $100,000 in cash and your house was paid for, how would you invest that money? I don't have a background in finance. It seems to me that the three most important services for the next several decades will be food, finance & data access. We're blessed to have great credit unions & food co-operatives, but lack a national-level mobile phone co-operative. I would use the $100,000 to fund such an endeavor.
I don't think you have much of a concept of how little a dent 100k would make on a project like that... I don't think you realize how far I'm capable of stretching a dollar. The entire Bank Transfer Day campaign was run on $10. :)
YAY for credit unions! I used to be the marketing manager for a big single-seg credit union. Loved our members, and loved the credit union philosophy even more. Question for you... how do you feel about the idea that credit unions are starting to act more like 'banks' and the ABA's lobby to start taxing credit unions? In which ways do you feel credit unions are beginning to act more like banks? The efforts to eliminate the tax exemption status are ridiculous, at best. I see it as a last minute (and incredibly desperate) attempt to strong arm consumers into banking with them. If Senate allows this, there will be a lot of lawmakers out of work next election.
How did the experience of orchestrating BTD change you personally? I hardly recognize the person I was two years ago! I've found myself becoming more & more aware of how the simple choices I make can have a significant impact. Being in the public eye has made me appreciate every ounce of privacy I still have. Overall, I feel as if I've found my calling... to promote co-operation both as a business model & a way of life.
Hi Kristen. As you know my company did a lot of quantitative & qualitative research on the impact of Bank Transfer Day. One conclusion reached by both research methods was that many people (even the unhappier ones) ultimately stay with a large bank because the mobile or other technology is simply more advanced there. In your work with credit unions or community banks, what do you advise them about meeting the needs of people-and especially younger people-who want the convenience of advanced digital 'banking' methods? Technology is going to play a huge role in acquiring & keeping members. I recommend that credit unions take advantage of the services many of their great vendor companies offer to provide resources like shared branching, mobile banking, remote check deposit to members. With a completely branchless model, I think PSECU is a great example of the banking model of the future.
The lack of technology, remote deposit and poor shared branching (especially internationally) is what keeps me away from CUs. That's a common misconception. Many credit unions have embraced mobile banking & remote deposit as part of the frills offered. I travel internationally fairly frequently & have yet to have an issue anywhere I've gone.
It's not a "misconception", its my personal experience. Show me a CU that offers the equivalent to BofAs mobile banking app (check deposit, bill pay, xfers, etc) and doesn't require me to be a former military member or something. Off the top of my head, PSECU offers everything you mentioned.
Yep, PSECU does all of that as well as provides your credit score for free each month. Just when I think I can't love PSECU any more...
Which the average person isn't eligible for. I have no relations to higher Ed in PA. This is one of the problems of CUs in my opinion - the requirement to be part of some subset. Banking lobbyists have successfully prevented credit unions from offering small business loans or expanding membership fields beyond the last inclusion of the relative/live/work/worship clause.
Either way - regardless of how it happens. This is one of the reasons CUs don't work for many people. Instead of complaining about the symptom, why not help fix the problem?
Nothing is ever 100% positive. In your opinion, what advantages do the big banks have over the average CU? The only advantage banks seem to have currently is their ability to sway lawmakers through campaign contributions. As for my personal experiences— Banking with BofA was a nightmare, at best. It's been nothing but smooth sailing at my credit union. I have access to more conveniently located ATMs than I had with BofA, lower interest rates on my lines of credit and the profits from my banking business is used to invest in my community. All around win.
So CUs are always better for all people? Come on. I know you are an advocate, but even you can't be so naive as to think that. I believe nearly every American would benefit both for themselves & their communities by joining a credit union.
OK - nearly isn't every. What kind of American wouldn't? I've yet to come across an American who wouldn't benefit from co-operative membership, but if I do meet one I'll let you know.
What is this? A credit union for ants?... Hey, even insects deserve equal access to affordable financial services! Haha.
Do you think that the "Big" banks are starting to get the message, that the power lies with the people, or are they still on a path that is not good for most Americans long term? TRANSLATION: Do they really not give a crap about the average Joe and Jane 6-pack working hard for a living and still scraping by? Link to www.facebook.com. I think "big banks" have heard the message, but I don't think they're ready to admit that their business practices led to the largest consumer shift in American history. Instead of improving the business model, bankers are pressuring Senate to eliminate the tax exemption status of credit unions.
You are more powerful than sarah kerrigan? Quite possibly. If only there was a way to know for sure...
Funny you mention that, the CU's have been running a student loan consolidation through the cuGrad program. You know SoFi is Morgan Stanley right? I met Ian Brady from SoFi at the G8 Summit Innovation Conference. He assured me that the lending was coordinated through donations by alumni, but I will definitely dig further into this.
Very innovative group there, I will send you some info. Also, check your FB for some info I just sent on our Google Hangout series, very exciting interviews planned. Awesome! Will do.
Do I still celebrate Bank Transfer Day if I dont pay any fees to bank? What day is Bank Transfer Day anyway? It wasn't so much the fees themselves that set me into motion, but the principle behind them. To me, the policy was symptomatic of an overall problem within for-profit banking structures. Bank Transfer Day began as a Facebook event & quickly became the largest consumer migration in American history. You can learn more about it on Wikipedia or Facebook.
You don't honestly believe you've changed anything, right? I don't believe that I singlehandedly changed anything. I believe that working together millions of Americans changed a few things. First, their transfers allowed credit unions to continue offering responsible loans with low interest rates to small business owners. Second, these loans combined with how many employees were hired by credit unions, Americans saw the unemployment rate drop. Finally, we illustrated that if a girl with a laptop and $10 can reach millions of Americans then campaign funding is no longer as vital to a candidate as it might have been in previous elections.
I live in the Las Colinas neighborhood of Irving, TX near Dallas. Do you know of any credit unions in my area that would be the best to check out? I am middle class and will use direct deposit several times monthly. I do not own a home or any large assets and usually use online banking. I'm with Chase currently and want to get away from them. My credit is not the best either. I am not really sure where to start or where to find out which credit unions in my area are the best. Any suggestions? I found several credit unions near you on A Smarter Choice, but I'm not personally familiar with any of them. If you'd like, I'd be glad to ask Bank Transfer Day's supporters for a personal recommendation; they're great about that. Just send me a private message via Facebook.
When you first created the Facebook event, the location of the event was listed as "Occupy Wall Street." How important do you think the Occupy movement (which was peaking in OctobeNovember 2011) was to the success of Bank Transfer Day? It's a common misconception that the Facebook event page had listed the location as "Occupy Wall Street." The best answer I can think of is that there were several factions of OWS that created secondary event pages that people may have seen. While I appreciated the support that was received from various groups across the political spectrum, I wish that leaders of groups like OWS hadn't chosen to cause disruption & break laws in the name of Bank Transfer Day.
Now who will step up and create a bank or credit union that has LEED platinum buildings powered by renewable energy that also invests in renewable energy? There will be bike parking and the thermostat will be set to save power (my CU has it at a frigid 73 F and when I asked what they invest in they told me T bills.) ??? are you the one? Speak to your credit union about their energy usage. Start with the branch manager. If he/she doesn't listen, go up the chain of command until someone does. On the off chance no one listens, take it to the next board meeting. You're part owner of your credit union. Speak up.
How mad are you that you parents named you Kristen Christian? Not at all. Besides being memorable, it's a great way to screen telemarketers... they can never pronounce it.
Oh, and it's more than a little satisfying to overhear a FOX reporter practice your name over & over. MUAHAHAHAHA.
Haha, it is very unique! I like it :-) Me too. :)
I have a friend who is thinking about switching from a Credit Union over to Chase because "they're more convenient" with regard to locations and teller hours. What can I do to sway her back to responsible banking? It sounds to me like maybe she didn't choose a credit union that suits her needs. There's a credit union out there for every single person. I bet she'd be happy as a lark if she joins one with shared branching, online/mobile banking & remote check deposit. If she'd like help finding such a credit union, I'm always glad to point consumers in the right direction. Either of you is welcome to send me a private message on Facebook for personalized help.
How do you feel about regional banks -- specifically (if you know of it) Umpqua bank in the Pacific NW? While some smaller banks do invest in their communities in amazing ways, I'm still wary of for-profit banks for a couple of reasons. First, I want to have a say in how my financial institution is run. Unless I'm a shareholder at a bank, I have no say. Secondly, a corporate bank can buy out a community bank without customers even being informed. I believe wholeheartedly that co-operatives are the best option for consumers.
Why was the original bank transfer day on a saturday? November 5th 2011 was just a deadline goal. I chose the date as a goal because it was about a month away when I created the event & Eddie Colla had just sent his icon image of an American flag superimposed over a Guy Fawkes mask. The stars seemed to be aligning, so I went with it.
Some argue that there is no escaping shadow banking. How much impact does moving retail account money into credit unions make on the shadow banking industry? I can't give you a definitive answer, but I will say that I started the campaign with no expectations & a belief that every dollar can make a difference on the local level so I've already far surpassed my own desires for the results of BTD. Every little bit helps.
I used your organization in the advocacy section of my thesis, "Financial Speak: Unmasking the Criminal Discourse of Wall Street." Your work is a big part of the consciousness raising effort needed in finance. Thank you. That's really awesome! How was it received?
Will do. I'm looking forward to continuing our conversation. Same here!
Did you change your name for the publicity value, or are your parents totally unaware? If I was going to pick a "stage name," do you honestly think I'd choose this?
What are your thoughts on Public Banks? There is a few state level legislatures in my state that are keeping the idea a alive in the WA State congress. I think they sound great for state, county, and municipal banking needs. I think they could be of benefit to particular communities and definitely better than a "big bank," but I still believe wholeheartedly that co-operatives are the overall best option.
Did you marry into the name Christian, or did your parents not think through the mouthful that is 'Kristen Christian'? It's my given name. Funny thing is, I never realized how strange my name was until I moved to LA a few years ago & everyone asked if it was fake.
Why use a bank? They are all scum in the end. Use cash or bitcoin as much as possible. A credit union isn't a bank, but rather a not-for-profit member-owned financial co-operative... so each is only as "scummy" as its members.
They still have employees to pay, CEO's still take huge salaries. They are just slightly different than a normal bank. I'm confused. Are you advocating that people not be compensated for their time & labor? The difference between the salaries of CEOs at banks & credit unions is staggering! Check out this CUTimes article.
Wow. You sound like you are trying to do a commercial. That's a great idea! We should do a commercial to reach even more people.
Facepalm. At least you are positive. Have a good day. You too!
Do you have any examples you can point me toward? Off the top of my head, PSECU.
Why did your parents pick a first name so similar to your last? When I was adopted at a young age, my birth name had been "Cristin." My folks decided that the best option would be to change the spelling of my first name to minimize confusion & allow me to keep a part of where I'd come from. Nearly 30 years later, I think they made the right choice. I've come to really love my strange little name.
I am very pleased with your response as most people would ignore such a question but I don't know anything about banking and I was curious. Enjoy your weekend! If someone takes the time to ask a question, surely I can take time to respond. Have a great weekend too!
You are a wonderful person Kristen! When is the next bank transfer day? Thank you! I like to think that everyone is wonderful in their own way. I feel so very blessed to have this experience, but due to the violence perpetuated by groups that supported the first deadline goal, I won't be coordinating another event like the first Bank Transfer Day. I do plan to continue commemorating the original date both publicly & personally. Last year I spent November 5th speaking for Credit Union Legislative Action Committee before returning to the privacy of my hotel room to read letters & posts from supporters. It really is so touching how so many of you take the time to reach out & encourage me along the way. Something like this is too much for one person to take on alone. I really couldn't have done it without each & every single person who lent their time & talent.
I have huge commitments with a bank which include a mortgage for over a hundred thousand dollars. Can a credit union take on that kind of debt or is it just where you deposit money to get around banking service charges? Credit unions offer all of the same services that traditional banks offer. The main differences the average consumer would notice is reduced interest on loans, higher interest on checking/savings, profits from your banking business are put to work in your community and as a member-owner you have a vote in how the institution does business. On the back end that a consumer may not notice, CEOs are typically paid far less and front line staff are paid more than for-profit counterparts. If you have huge account balances or business loans, it could be tricky, but I can put you in touch with your state's league & ask them to help you find a credit union to suit your needs. Just let me know.
Just pick a credit union with branches all over the country. Both Veridian and Collins Community have branches all over Iowa, I assume they're nationwide as well. John Deere is pretty much only in Waterloo / Cedar Falls, I assume that's who you went with? My credit union has a limited number of branches. I like that their focus is specifically on the community that made me the woman I am today. Yet... I can bank anywhere in the country & even have no issues traveling outside of the US because my credit union participates in shared branching.
Cool story broah. Shared branching is pretty cool, huh?
Why do you have two first names? Why don't you?
I'm not special =[ Maybe you just haven't found that special place where your talents & passions meet. Don't stop looking!
[NEFCU 2.5% interest on checking account. ](Link to www.mynefcu.org Credit Unions are the best. They really, really are. How long have you been a member?
Switching to a local credit union is among one of the best decisions I've made in my adult life. I'm so glad to hear that! How has membership changed your life?
I don't believe they do. As a member-owner, you can ask them to! It's made banking so much easier for me.
"... people can vote with their money!" How dare you! You are now subscribed to lifelong mandatory TSA searches. In fairness, it was a bit more complex. The hacker group Anonymous claimed credit for Bank Transfer Day... effectively saying I was a member of Anonymous, which I'm not. I understood being initially investigated & even being put on the list. It bothers me that they haven't figured out yet that I'm not a risk.
Big bank employee checking in. Keep doing what you do. I really do work for the devil. Thanks for stopping by & having a sense of humor. If you ever feel like leaving the dark side... CU Insight posts about credit union jobs.
Just wanted to stop by and say hi Kristen. Bank Transfer Day is an awesome concept, There is something in it for all, regardless of political affiliation. And that the person behind it all, is one special human being who cares! Other than that.. you inspired me to join Reddit today! Hi! Thank you! You're too kind. I think a lot of people care, but just aren't sure what they can actually do to impact positive chance. I'm glad you joined reddit too! It's a great community full of thoughtful people sharing fantastic ideas.
I haven't banked with an evil big bank since I was in high school . . . and I'm not young anymore. ;-) That's great! Have any of your family or friends made the switch because of your recommendation?
No question here, just support and solidarity. I participated in the first Bank Transfer day as a part of my local Occupy encampment, and switching to a local credit union has been a decision I've only been happier for doing! Thank you for your organizing efforts! Thank you! It's been amazing to see how this simple & direct action was appreciated by so many people. There are a lot of things Americans disagree on, but I think the vast majority of us believe that our communities need & deserve our support.
I feel the same way. I feel like a total geek sometimes because if anyone ever asks anything about banks, I effuse wildly about my c.u.. That evangelism is so common amongst co-operative members, but relatively unheard of in any other sector! Kind of makes you feel all warm & fuzzy.
You do realize that the big banks are probably thrilled that they are losing a lot of accounts with small balances. If the "big banks" were thrilled, I doubt they wouldn't have rescinded the new policy two days before the original deadline goal, nor would they now be lashing out by pressuring lawmakers to eliminate the tax exemption stays of credit unions.
Is your middle name Cristian. No. No, it's not.
Quick! Say your name 5 times fast! Okay, but only if you join a credit union. Bribery.
I'm 21 and have no clue what a credit union is! =D. Check out this awesome video explaining the differences between banks & credit unions: CLICK HERE
So glad you could do this, Kristen. There's a lot of misinformation out there, but we're gaining ground! A big 'Thank You' from your friends at Alliance Credit Union in St. Louis... Thank you! I hope everyone at Alliance is having a fantastic day!
2 years ago I saw your Bank transfer day Facebook page and it encouraged me to abandon my crumby BofA account and join a credit union. Huge thanks! No, thank you! Without the support of so many folks, the Facebook event could never have turned into a full-blown movement. I'm so glad to hear you're still happy with your choice!
Last updated: 2013-07-30 14:10 UTC
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4/16/14 Video News - Nick Szabo as Satoshi, Mt. Gox liquidates, ATMs in Brazil & China

Video: http://www.moneyandtech.com/apr16-news-update/
Today's top news stories for you in Money & Tech:
The mysterious Satoshi Nakamoto has been found… again. A group of forensic linguistics experts at Aston University lead by Dr. Jack Grieve have analyzed the original Bitcoin whitepaper, comparing it to the writing of 11 individuals previously thought to be Satoshi Nakamoto. Their conclusion: former law professor Nick Szabo is the primary author of the whitepaper and therefore the probable creator, or one of the creators, of bitcoin. As Dr. Grieve put it, “The number of linguistic similarities between Szabo’s writing and the bitcoin whitepaper is uncanny... though we can’t rule out the possibility that others contributed.""
The Tokyo District Court today dismissed Mt. Gox's proposal for a civil rehabilitation proceeding, despite the recent offer from a group of industry investors to purchase and resurrect the company for the price of one Bitcoin. Instead today, Mt. Gox filed for liquidation in Tokyo court, which the exchange admitted “will create great inconvenience and concerns to our creditors for which we apologize.”
At the same time, Gox CEO Mark Karpeles has filed an emergency motion to push back his US court appearance until May 5th, which could threaten the continuation of Karpeles' US bankruptcy protections, and provide US class action lawsuit attorneys the time to do more research and build their case.
The President of the U.S. Federal Reserve Bank of Minneapolis expressed interest in digital currency at a town hall at North Dakota State University on Tuesday, saying its main interest lies in its ability for speedy payments between individuals, ”as opposed to a new currency that’s going to drive the U.S. dollar out of circulation.” This statement comes days after an economist at the Federal Reserve Bank of Chicago acknowledged that bitcoin is a “remarkable technical achievement”, and VP at the St. Louis Fed called bitcoin “a stroke of genius“.
Latin America's first bitcoin ATM landed in Brazil on Monday, at a Sao Paulo bar already accepting Bitcoin, and blocks away from international offices of Facebook, Google, J.P. Morgan and Goldman Sachs. The new Lamassu machine allows locals to convert their Brazilian Real into Bitcoin, and offers businesses like the Sao Paulo bar an option to operate without the high transactions fees typical of local banks.
In China, BTC China has installed the country's first bitcoin ATM machine as promised, located in a cafe at a mall in Shanghai, allowing people to physically change Chinese yuan into Bitcoin for the first time.
The Bitcoin Foundation and Blockchain.info have co-created the first annual Blockchain Awards to celebrate innovation and excellence in the Bitcoin community. The awards ceremony will be held in Amsterdam on May 16th at the Bitcoin 2014 conference. Nominations will be accepted today through May 6th for categories such as, Most Impactful Charity, Best ATM Design, and Bitcoin Champion.
Money & Tech’s Perianne Boring attended the recent Inside Bitcoins New York conference. We’ll be bringing you her interviews with notable industry figures this week, starting today with Blockchain.info CEO Nicholas Cary and Cryptsy CEO Paul Vernon, available here shortly.
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