Category Archives: Bitcoin

(Bloomberg) -- The bitcoin mining company Cointerra Inc. filed to liquidate its assets under Chapter 7 of the U.S. Bankruptcy Code, following the bitcoin exchange Mt. Gox in declaring insolvency as the virtual currency falls in value.

The company listed assets and debt of as much as $50 million each in a Chapter 7 filing Saturday in U.S. Bankruptcy Court in Austin, Texas. No reason was given for the filing.

The value of Bitcoin in dollars fell almost 70 percent last year and has continued to plunge in 2015.

Mining, a nod to the excavation of minerals and metal ore, is entirely digital. The mining process gets increasingly complicated as more bitcoins are created, driving demand for computing power.

Speculators called miners use computers to solve complex software problems and verify transactions to unlock new bitcoins.

C7 Data Centers Inc. sued Cointerra Jan. 12 alleging the bitcoin company owes it $1.4 million for services rendered under a master services agreement. Cointerras total payments under the agreement through the end of the contract would be about $5.4 million, according to papers filed in state court in Utah.

Mt. Gox, once the worlds biggest Bitcoin exchange, sought court protection in Japan in February 2014 after losing 850,000 bitcoins, then valued at about $473 million.

Customers lost about 750,000 and Mt. Gox lost about 100,000 of its own. The company later found 200,000 in an old-format digital wallet. The exchange sought U.S. protection March 9 under Chapter 15 of the bankruptcy code, which allows companies to seek protection from creditors in the U.S. while the primary case proceeds in another country.

Bitcoin was introduced in 2008 by one or more programmers under the name Satoshi Nakamoto and has since gained traction with merchants around the world. The virtual coin has no central issuing authority and uses a public ledger to verify transactions while preserving users anonymity.

The case is In re Cointerra Inc., 15-10109, U.S. Bankruptcy Court, Northern District of Texas (Austin). The C7 Data Centers suit is C7 Data Centers Inc. v. Cointerra Inc., 2:15-cv-00019, Third Judicial District Court, Salt Lake County, Utah.

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Cointerra, Bitcoin Company, Files to Liquidate in Bankruptcy

Why Bitcoin is one of the easiest markets to trade | Chris Dunn
How to catch the BIGGEST moves in Bitcoin for gains of 16%-32%. Why Bitcoin is FAR easier to trade than stocks, forex, options. My 3 ""underground secrets"" ...

By: Investor Inspiration

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Why Bitcoin is one of the easiest markets to trade | Chris Dunn - Video

What #39;s up with bitcoin and the euro
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What's up with bitcoin and the euro - Video

Bitcoin Prices Spike After News of First Regulated U.S. Bitcoin Exchange
Bitcoin may be getting a boost. Coinbase, a startup that develops a mobile wallet to buy and store the digital currency, announced Monday that it is launching the first licensed Bitcoin exchange...

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Bitcoin Prices Spike After News of First Regulated U.S. Bitcoin Exchange - Video

Transmission 23 - Bitcoin Mining, Cloud Mining w/ Knights of the Satoshi
Make sure to thumbs up and subscribe http://worldcryptonetwork.com http://knightsofthesatoshi.com http://libertehosting.com http://transmission.rocks http://soundwallet.net Twitter: https://twitte...

By: World Crypto Network

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Transmission 23 - Bitcoin Mining, Cloud Mining w/ Knights of the Satoshi - Video

U.S. Bitcoin Exchange Makes Debut
Bitcoin payments processor Coinbase on Monday opened a regulated exchange in the United States for trading the virtual currency. Launched just days after Coinbase raised $75 million from blue-chip ...

By: WochitBusiness

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U.S. Bitcoin Exchange Makes Debut - Video

Hollywood Beach, Florida (CNNMoney)

The brothers, known for their legal battle with Facebook (FB, Tech30) founder Mark Zuckerberg, believe the controversial cryptocurrency is the payments network of the future. That's despite Bitcoin's 60% plunge in 2014.

They predict Bitcoin's market capitalization could easily skyrocket to at least $400 billion, or roughly the combined size of modern day payments companies like American Express (AXP), Visa (V), MasterCard (MA) and Western Union (WU).

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it.

"If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

Related: Gold is sexy again as it jumps above $1,300

Reaching over $1 trillion in market cap is hard to fathom, especially because Bitcoin's current market cap is less than $4 billion.

Many skeptics remain convinced Bitcoin was a bubble that will soon die out. Jeffrey Gundlach, the new so-called "bond king," recently said Bitcoin is "on its way to being relegated to the ash heap of digital currencies."

Related: Will Bitcoin ever rebound?

Buying opportunity? Don't tell that to the Winklevii, as they are sometimes called. The twins are huge backers of Bitcoin and stand to profit handsomely if their vision comes true.

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Winklevoss twins: Bitcoin will explode beyond $1 trillion

Trading on Kraken Bitcoin Exchange with LUXSTACK
Link an exchange to LUXSTACK #39;s mobile app and trade in and out of bitcoin with ease, right from the palm of your hand.

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Trading on Kraken Bitcoin Exchange with LUXSTACK - Video

Hollywood Beach, Florida (CNNMoney)

The brothers, known for their legal battle with Facebook (FB, Tech30) founder Mark Zuckerberg, believe the controversial cryptocurrency is the payments network of the future. That's despite Bitcoin's 60% plunge in 2014.

They predict Bitcoin's market capitalization could easily skyrocket to at least $400 billion, or roughly the combined size of modern day payments companies like American Express (AXP), Visa (V), MasterCard (MA) and Western Union (WU).

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it.

"If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

Related: Gold is sexy again as it jumps above $1,300

Reaching over $1 trillion in market cap is hard to fathom, especially because Bitcoin's current market cap is less than $4 billion.

Many skeptics remain convinced Bitcoin was a bubble that will soon die out. Jeffrey Gundlach, the new so-called "bond king," recently said Bitcoin is "on its way to being relegated to the ash heap of digital currencies."

Related: Will Bitcoin ever rebound?

Buying opportunity? Don't tell that to the Winklevii, as they are sometimes called. The twins are huge backers of Bitcoin and stand to profit handsomely if their vision comes true.

Continued here:
Winklevoss twins: Bitcoin better than gold

SF Bitcoin Meetup @ Geekdom January 27, 2015 [Live]

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SF Bitcoin Meetup @ Geekdom January 27, 2015 [Live] - Video