Bitcoin Roundup March 24, 2016


A Closer Look at Reddit Vote Manipulation About Bitcoin | Bitcoin Magazine

The r/Bitcoin subreddit has increasingly become a major source of news and information for anyone interested in Bitcoin. Established in 2010 and counting more than 170,000 subscribed accounts today, it is the oldest and biggest Bitcoin-related page on Reddit, and perhaps even the most influential Bitcoin corner on the Internet.

But since last summer, r/Bitcoin has been under increased scrutiny. In a controversial move, the subreddit’s moderators banned the promotion of software clients programmed to break with consensus. While many considered this a form of censorship, the moderators maintain that promotion of these clients is a risk to Bitcoin as they could split the network, and therefore it doesn’t belong on the subreddit. 


PEY Offers Bitcoin Payroll to T3N Using Bitpay’s Solution – NEWSBTC

We can send funds across the world using bitcoin, we can also use it to pay for goods and services and we can also trade it against other currencies and commodities. When we can do all these things with bitcoin, why can’t we just get paid in the same digital form which we can spend comfortably?

Actually, we can. There are many such services that allow companies to pay their employees’ salaries in bitcoin. It is just a matter of adoption and not many companies have opted for it yet. But the scenario is slowly changing for good. PEY, a German bitcoin services company has announced that it will be launching its bitcoin payroll solution soon in the country and it will be used by one of the leading German tech publication named t3n


Russian Finance Ministry Is Looking to Officially Ban Bitcoin – CCN: Financial Bitcoin & Cryptocurrency News

The Finance Ministry in Russia, long known for taking an aggressive stance against Bitcoin is now developing a proposal to officially ban bitcoin in Russia. The proposal by the Finance Ministry cites the Russian Central Bank to be the sole issuing authority to create what it sees as the only valid currency in the country, the Russian ruble.

The Ministry of Finance in Russia is in the process of proposing new amendments to article 27 of the Russian Federation’s Federal Law on the Central Bank (Bank of Russia). 


First Global Credit Announces Bitcoin Trading Competition

The satisfactory outcome of their previous Bitcoin trading competition has prompted First Global Credit to introduce cash prize category to its latest trading competition.

The UK-based finance trading platform, which exclusively allows Bitcoin to be used as collateral margin to trade ETFs and stocks, today announced the launch of a new trading competition that will commence on April 4th. The Fantastic Four Trading, as the competition is titled, rewards the traders — that make the maximum profit in currency, stocks, and futures market within a given period — with attractive cash prizes. The competition also reserves one special status for the trader who makes the maximum profits in all the said categories. 


Wirex Enables Bitcoin Purchase via PayPal – CCN: Financial Bitcoin & Cryptocurrency News

Wirex Limited, the London, U.K. producer of the E-Coin bitcoin debit card, has made it possible for users to buy bitcoin using an E-Coin virtual Visa card and PayPal.

E-Coin users can buy bitcoin with PayPal from the following countries:

Bahamas, Bahrain, Botswana, Bulgaria, Chile, Croatia, Estonia, Georgia, Gibraltar, Honduras, Iceland, Indonesia, Israel, Italy, Jordan, Kazakhstan, Latvia, Lesotho, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Moldova, Morocco, Mozambique, Oman, Philippines, Romania, San Marino, Saudi Arabia, Senegal, Serbia, Slovakia, Slovenia, Turkey, United Arab Emirates and Uruguay.

Plastic E-Cards cannot be shipped to the following countries: Botswana, Honduras, Mozambique and Senegal. 


Russian Ministry of Finance Continues Bitcoin Witch Hunt

Although it is up to government officials of every individual country to deem Bitcoin legal or not, there are very few regions where digital currency is officially considered illegal. Russia will soon be added to the list, though, as the Ministry of Finance has proposed a new draft that will officially label Bitcoin as illegal.

But that is not all the Ministry plans to do, as the draft includes various proposals to impose new penalties on companies dealing with digital currency. A fine between three and five million Ruble will be imposed upon companies, although there is an alternative punishment in the form of a 90-day clause during which business operations are prohibited. 


Is Bitcoin Really Frictionless?   Liberty Street Economics

Bitcoin is the most popular virtual currency yet developed. Proponents assert that bitcoin can remove frictions involved in payment and settlement systems by eliminating the need for the financial intermediaries that exist in traditional currencies. In this blog post, we show that while bitcoin transfers themselves are relatively frictionless for the user, there are significant frictions when bitcoins trade in exchange markets resulting in meaningful and persistent price differences across bitcoin exchanges. These exchange-related frictions reduce the incentive of market participants to use bitcoin as a payments alternative.  


Coince, the first choice of Bitcoin investors

Large scale bitcoin mining has been a lucrative business since bitcoin became valuable. Bitcoin mining involves contributing large amounts of processing power to the bitcoin network to solve complex cryptographic algorithms. By successfully solving these cryptographic mathematical problems, miners will be able to discover new blocks. These new blocks are added to the existing blockchain and information related to transactions happening over the Bitcoin network is written on these blocks. The Bitcoin network offers rewards to those miners who discover fresh blocks. The rewards are in the form of fresh bitcoins. Bitcoin rewards are the driving force for miners to participate in bitcoin mining. The Bitcoin network offers rewards to those miners who discover fresh blocks.  


Sun Exchange Enables Bitcoin Investments in Solar Energy Projects

There is one striking similarity between climate change and Bitcoin. Both are considered unreal by a section of society. But for most of “concerned” us they both exist as an environmental threat and a financial disruption, respectively. The Sun Exchange meanwhile, is a startup that is working towards using one’s innovation to battle other’s intimidation.

One of the main concerns in today’s world is the depletion of fossil fuels and increasing emissions. The world powers are contemplating on ways to cut down their per capita emissions by increasing the adoption of renewable energy sources. Solar energy is one such renewable source that is available in plenty, especially in the tropical regions. The use of solar energy for power generation is not a new concept. There are multiple solar power generation facilities across the world that produces electricity using solar energy. This electricity is then supplied to the consumers through the electricity grid. 


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