MecklerMedia’s Inside Bitcoins Conference in Association with KINTEX Announces First Major Cryptocurrency Trade Show in South Korea, December 12-13

#AceFinanceNews – NEW YORK – October 16 – On Oct. 15, 2014 /PRNewswire/ — MecklerMedia (OTCQX: MECK) announced that the Inside Bitcoins Conference and Expo taking place in Seoul on December 12-13 will be South Korea’s first major cryptocurrency event.

Inside Bitcoins Seoul will be co-produced by MecklerMedia and the Korea International Exhibition Center (KINTEX).

The event will feature a lineup of both local and international experts, including Jacob Hansen, CEO & Co-Founder, CrowdCurity; Prof. Hoh Peter In, Ph.D. Professor, Department of Computer Science, College of Informatics, Korea University; Zennon Kapron, Managing Director, Kapronasia; Mr. Casey Ilsun Kim, CEO, InfraBasic and Adjunct Professor, Hanyang University Business School; Tony Lyu, CEO, Korbit; and more.

Early bird prices will expire on October 31, so attendees are encouraged to register before then for the best rate. For complete information on Inside Bitcoins Conference and Expo, visit insidebitcoins.com.

If your company is interested in sponsoring or exhibiting, contact us at eventsales@mecklermedia.com.

About MecklerMedia: 

MecklerMedia (OTCQX: MECK) is the producer of conferences including Inside 3D Printing, Inside Bitcoins, and AllFacebook Marketing Conference. MecklerMedia produces over 25 conferences annually. The MecklerMedia news sites and newsletters, including Inside Bitcoins News, 3D Printing Industry, and Allfacebook.de provide up-to-date coverage on emerging industries to help drive business forward.

SOURCE: Meckler Media

CONTACT: Press Inquiries: press@mecklermedia.com

Web Site: Meckler Media

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#afn2014, #bitcoin

` MIT Students to Receive $100 in Bitcoin After Wall Street Financier Donated $500,000 as a Study ‘

#AceFinanceNews – UNITED STATES – April 30 – Every student at a US university is to be given $100 (£59) in bitcoin after a Wall Street financier donated $500,000 (£297,000).

Students at Massachusetts Institute of Technology (MIT) will receive the virtual currency when they return to campus this autumn, as part of a study to see whether a small-scale bitcoin ecosystem can be created.

They will be free to spend their bitcoin in any way they please, but it is hoped they will use it to trade and barter with each other.

Given bitcoin’s soaring price, $100 will give each student just a fifth of a bitcoin at the current exchange rate.

Dan Elitzer, who founded the university’s bitcoin club, wrote on the website: “We want to issue a challenge to some of the brightest technical minds of a generation: ‘When you step onto campus this fall, all of your classmates are going to have access to bitcoin; what are YOU going to build to give them interesting ways to use it?'”

Bitcoin is a virtual currency – also known as a cryptocurrency – which was introduced five years ago.
It can be mined using advanced computer processors, and exchanged between people at often fluctuating rates.

It is still unclear whether it is a passing fad, or a currency of the future.

Ace Related News:
1. Sky News – April 30 – http://tinyurl.com/osvxwey

#AFN2014

#bitcoin, #united-states

` Tokyo Court Rules ` Mt Gox ‘ is Unable Repay their Creditors so an Administrator Should Sell all Assets ‘

#AceFinanceNews – TOKYO – April 16 – The Tokyo District Court decided Wednesday that Mt. Gox – the trading platform and storehouse for the bitcoin virtual currency – would not be able to resurrect itself under a business rehabilitation process submitted in February.

Many of its creditors are unlikely to get their money back and an administrator will try to sell the company’s assets.

The CEO of Mt. Gox, Mark Karpeles, said in February that 850,000 bitcoins, worth several million dollars, were unaccounted for and blamed a weakness in the exchange systems. Mt. Gox then found 200,000 bitcoins, stating that only 650,000 had been lost.

The exact amount that is still missing is under investigation, with Mt. Gox suggesting they may have been stolen.

#AFN2014

#bitcoin, #mt-gox, #tokyo

` ` US are considering `Extradition ' of `Silk Road ' moderator of website related to those wanting to buy illegal Goods '

#AceFinanceNews – Australia – March 22 – The authorities are considering extradition to the US of an alleged moderator of Silk Road, a website that used to connect those who wanted to buy illegal goods, such as drugs, and pay for them with digital currency, like Bitcoin.

Last December, three men involved with the Silk Road website were charged with conspiracy to engage in drug trafficking, hacking and money laundering.

Extradition of one of them, native Australian Peter Phillip Nash, 41, from Queensland state, has been demanded by the US.

#AFN2014

#ans2014, #australia, #australian, #bitcoin, #queensland, #silk-road, #us

` Bitcoins and Cyptocurrencies cannot be used in ` Russia ‘ as they carry the risk of Violating Citizen’s Rights ‘

#AceFinanceNews The use of Bitcoins and other Cryptocurrencies carries the risk of violating citizens’ property rights and cannot be used in Russia, the country’s Prosecutor General’s Office concluded after meeting with the Central Bank, FSB, and Interior Ministry.

“The monitoring of the use of virtual currencies shows an increasing interest in them, including for the purpose of money laundering, profit obtained through illegal means,” ITAR-TASS quoted the Prosecutor General’s Office as saying.

“Russia’s official currency is the Ruble. The introduction of other types of currencies and the issue of money surrogates are banned,” the statement says, meaning that Cryptocurrencies – the most popular of which is Bitcoin – cannot be used by Russian citizens or corporations.

Members of the meeting also outlined recommendations on how to prevent the use of virtual currencies.

Last month, Russia’s Central Bank (CBR) warned people against using virtual currencies, as they could be tied to gangs involved in money laundering and terrorist financing. CBR issued a statement stating that virtual currencies are illegal under Article 27 of the federal law ‘On the Central Bank of the Russian Federation.’

Bitcoin is an independent currency which is not regulated by a government and therefore “carries a high risk in devaluation.”

#AFN2014

#bitcoin, #cryptocurrencies, #fsb, #itar-tass, #ruble, #russia, #russias, #russias-central-bank-cbr, #russian

` Singapore intends to Regulate `Bitcoin Operators’ under `MAS’ requiring `Intermediaries to Check-Identity’ of Customers ‘

#AceFinanceNews Singapore intends to start regulating Bitcoin operations, as fears over its involvement into illegal operations and terrorist financing are growing.

The Monetary Authority of Singapore (MAS) will require Bitcoin intermediaries to check the identity of customers.

“Consumers and businesses should take note of the broader risks that dealing in virtual currencies entails and should exercise the necessary caution,” MAS Deputy Managing Director Ong Chong Tee said in a Thursday statement.

The regulatory rules in Singapore will be similar to those now applied in Hong-Kong, as MAS told Bloomberg.

The laws in Hong Kong cover fraud and money laundering that involve “virtual commodities.”

#AFN2014

#bitcoin, #bloomberg, #hong-kong, #monetary-authority-of-singapore-mas, #singapore

#AceFinanceNews – Just Wants to say `Thank You’ to all our `Readers’ of our News’

Just seems only a short while ago l started adding a new theme and new posts of interest in the finance market, and here we are at 500 posts and counting.

With out you my readers and friends l could not have achieved this many post.

Anyway thank you from a very humble editor, writer and friend and thanks for the 500! 🙂 WP Post Milestone of 500-2x

 

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#bitcoin, #constant-bitrate, #dolby-digital, #japan, #ministry-of-finance-russia, #sampling-rate, #tokyo, #united-states

` Mt Gox the largest ` Bitcoin Exchange ‘ files for ` Bankruptcy ‘ amid rumours of Hacking ‘

#AceFinanceNews says that `Tokyo‘s Mt Gox Bitcoin Exchange has filed for `Bankruptcy‘ amid missing currency‘.

Published time: March 02, 2014 11:54
 
Reuters/Jim Urquhart Reuters/Jim Urquhart
Mt Gox, once the world’s largest bitcoin exchange, filed for bankruptcy in a Tokyo district court on Friday, the company’s lawyer citing ‘outstanding debts of $63.2 million, after mysteriously going offline on Monday.

Investors may have lost all of their virtual coins, as the exchange’s computer system was exposed to fraudulent transactions and technical failures.

A leaked internal Mt Gox “crisis strategy” document suggesting that the exchange site had been hacked and hundreds of millions of dollars’ worth of the cryptocurrency stolen began to circulate online.

Technical glitches in February forced the trading platform to halt deposits, causing the already volatile crypto-currency to plunge 20 percent. On Friday it was listed at $565.07 on Winkdex, a New York-based bitcoin value index.

Mt Gox once claimed to host nearly 80 percent of all bitcoin transactions worldwide, and was the primary source cited for bitcoin prices.

Mark Karpeles (2nd L), chief executive of Mt. Gox, attends a news conference at the Tokyo District Court in Tokyo February 28, 2014. (Reuters/Yuya Shino)Mark Karpeles (2nd L), chief executive of Mt. Gox, attends a news conference at the Tokyo District Court in Tokyo February 28, 2014. (Reuters/Yuya Shino)

After it the site crashed on Monday, the value of bitcoin fell to $440, a 3-month low after the currency reached highs above $1000 at the end of November.

On Monday, Mark Karpeles, the chief executive of the now defunct exchange, resigned Mt Gox from the board of the Bitcoin Foundation ‘effective immediately’.

Karpeles remained mum after the site went offline, but on Friday told a press conference that Mt Gox wants to file a criminal probe into the hacking.

Screenshot from www.mtgox.com

Screenshot from www.mtgox.com

 Bit-coin, an alternative to traditional currencies, isn’t backed by any official government or central bank, which makes recovering losses difficult.

Central banks across the globe have begun to crackdown on the cryptocurrency, instructing financial institutions not to accept bit-coins because they have no legal status or monetary-backing, like state-backed currencies.

Courtesy of: RT   
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#acefinancenews, #ace-finance-news, #bankruptcy, #bitcoin, #electronic-money, #friday, #gox, #japan, #mark-karpeles, #mt-gox, #tokyo, #tokyo-district-court

” Bitcoin Cyrpto Currency has no real value in the `Financial Markets’ as it is not backed by Real Asset’s”

#AceFinanceNews says according to (RIA Novosti) – The Bitcoin cryptocurrency is not on par with other financial securities as it is not backed by real assets, an official at Russia’s central bank said Monday.

The bitcoin logo

The bitcoin logo (Photo credit: Wikipedia)

The Bitcoin system, governed by complex mathematical algorithms, has been at the centre of recent debate as financial leaders grapple with how to regulate so-called virtual currencies.

As the total number of Bitcoins approaches a hard mathematical limit of 21 million, the coins become more computationally intensive – and costly – to calculate, a process known as mining.

“In order to equate Bitcoins with securities, it is essential to first understand what value a financial instrument represents,” said Andrei Shamrayev, deputy director of the central bank’s national payment system.

“[A Bitcoin’s value] is only fixed by the amount of time spent on its ‘mining.’”

The bank said last month that Bitcoin users – who are often also issuers of the currency through mining – could face jail time under laws restricting anonymous financial transactions intended to combat money laundering and the funding of terrorism.

Timur Batyrev, director of the bank’s national payments system, likened the currency Monday to a pyramid scheme fueled by speculative transactions.

“There will be people who are prepared to influence the exchange rate of Bitcoins in order to maximize profits.

Chiefly these are people who own a lot of Bitcoins, but there will also be people who will pay for this profit,” Batyrev said.

Designed by an unidentified computer scientist operating on-line under a pseudonym, Bitcoins have exploded as a currency for illicit transactions and were the primary means of payment on the narcotics-focused Silk Road on-line marketplace raided by the FBI in October.

 

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#acefinancenews, #bitcoin, #bitinstant, #business, #currency, #electronic-money, #finance, #moscow, #ria-novosti, #russia, #silk-road