Bitcoin 31 May 2013

The current Bitcoin price is $127.70006 with an average of $129.35 for the last 24 hours.   A deviation of about $1 compared to yesterday.   Volume stands at 25 458.87.

Blocks    238787
Total BTC    11.220M
Difficulty    12153412
Estimated    13100943 in 1117 blks
Network total    117.480 Thash/s
Blocks/hour    8.10 / 444 s

Bitcoin 30 May 2013

The current Bitcoin price is $131.48 with an average of $130.29 for the last 24 hours.   The range is addition of $2 as compared to yesterday.   This is still quite stable.   Volume stands at 19 759.85 which is slightly less than yesterday's.

Blocks    238593
Total BTC    11.215M
Difficulty    12153412
Estimated    12771602 in 1311 blks
Network total    105.500 Thash/s
Blocks/hour    7.28 / 495 s

Bitcoin 29 May 2013

The current Bitcoin price is $129 with an average of $128.02 for the last 24 hours.   It is about less than a dollar difference comparing the 24 hour average which is getting good.   Observing the stability of the Bitcoin with great joy.   This means that it is getting better and better as a trading currency.   Volume stands at 23 552.05 which is less than half that of yesterday's.

Blocks    238431
Total BTC    11.211M
Difficulty    12153412
Estimated    12535053 in 1473 blks
Network total    101.521 Thash/s
Blocks/hour    7.00 / 514 s

Today's news headlines Bad News for Bitcoin?   I was expecting the worse.   But it turned out that the Fed had shut down Liberty Exchange for a alleged $6 billion money laundering.   I do not think it is fair to even equate Bitcoin with Liberty Exchange.   You can use the USD for money laundering too.  It is the purpose, not the currency at fault!  

Bitcoin 28 May 2013

The current Bitcoin price is $130.18 with an average of $129.48 for the last 24 hours.   The 24 hour trading is still extremely range bound at less than $3.   Volume stands at 48 081.18 which is double that of yesterday's.

Blocks    238270
Total BTC    11.207M
Difficulty    12153412
Estimated    12418267 in 1634 blks
Network total    99.979 Thash/s
Blocks/hour    6.90 / 522 s

Bitcoin 27 May 2013

The current Bitcoin price is $133.61001 with an average of $134.01 for the last 24 hours.   The 24 hour trading is still extremely range bound.   Volume stands at 23 665.87 which is double that of yesterday's.

Blocks    238099
Total BTC    11.203M
Difficulty    12153412
Estimated    12175031 in 1805 blks
Network total    98.658 Thash/s
Blocks/hour    6.80 / 529 s

Bitcoin 26 May 2013

The current Bitcoin price is $130.98 with an average of $130.90 for the last 24 hours.   It appreciates nearly $1 as compared to yesterday, a very narrow gap.   Volume stands at 17 294.81 which is 1/3 of yesterday's.

Blocks    237941
Total BTC    11.199M
Difficulty    12153412
Estimated    12154051 in 1963 blks
Network total    103.503 Thash/s
Blocks/hour    7.41 / 486 s

The Verge had an article on Why won't Bitcoin die.   As a Bitcoin supporter, I surely find this an extremely good article :)

Bitcoin 25 May 2013

The current Bitcoin price is $132.50 with an average of $129.93 for the last 24 hours.   It appreciates nearly $5 as compared to yesterday, quite a jump. Hopefully Bitcoin won't fluctuate too much, it will not be good for businesses trying to make use of it. .   Volume stands at 50 400 67 which is more than double that of yesterday's.

Blocks    237783
Total BTC    11.195M
Difficulty    11187257
Estimated    12073595 in 105 blks
Network total    92.605 Thash/s
Blocks/hour    6.94 / 519 s

Today's news is a Must Read from Forbes, it is giving Bitcoin Top 10 Sites.   But I certainly hope that more conventional merchant sites will be in Forbes Bitcoin Top 10 next year.   For instance those selling physical goods or house hold items.   Bitcoin really needs to breach those niches.

Bitcoin 24 May 2013

The current Bitcoin price is $126.67161 with an average of $125.36 for the last 24 hours.   It seems that the Bitcoin prices is slowly but surely edging upwards.  This is still a very stable price for Bitcoin.   Volume stands at 22 617.58.

Blocks    237608
Total BTC    11.190M
Difficulty    11187257
Estimated    12023831 in 280 blks
Network total    94.920 Thash/s
Blocks/hour    7.11 / 506 s

The super news for Bitcoin Miners!   An article carried by the famous Techcrunch about Cryonic Bitcoin FrostBit.   It is a PC cooled by liquid nitrogen and powered by ASICs!   These are awesome power hunger machine peaking at 2800W a day but able to perform 1000 Gigahashes a second.   If you take a look at the network total of 94.920 Thash/s, you will find that one machine itself can contribute more than 1% of the total hash power!   Of course these features filled and nitrogen cooled machine isn't on the cheap either, it costs US$15000!   It is expected to be delivered in Jul 2013 and can be preordered here.

Bitcoin 23 May 2013

The current Bitcoin price is $124.49999 with an average of $123.05 for the last 24 hours.   The trading is about a dollar more than yesterday's.  This is still a very stable price for Bitcoin.   Volume stands at 19 074.31.

Blocks    237430
Total BTC    11.186M
Difficulty    11187257
Estimated    11894025 in 458 blks
Network total    85.458 Thash/s
Blocks/hour    6.40 / 562 s

Wow!  Even IEEE Spectrum is writing an article on Bitcoin.   The essence that Internet Archive Federal Credit Union can help setup exchanges for Bitcoin which conform to regulatory requirements so as to bring Bitcoin into the mainstream.

Bitcoin 22 May 2013

The current Bitcoin price is $122.80 with an average of $122.29 for the last 24 hours.   The trading is range bounded within a very tight interval.  Volume stands at 13 398.84.

Blocks    237271
Total BTC    11.182M
Difficulty    11187257
Estimated    11817098 in 617 blks
Network total    87.540 Thash/s
Blocks/hour    6.56 / 549 s

Bitcoin 21 May 2013

The current Bitcoin price is $122.03002 with an average of $122.31 for the last 24 hours.   The trading range is tight indicating a stable price level.  Volume stands at 17 359.33.

Blocks    237120
Total BTC    11.178M
Difficulty    11187257
Estimated    11836231 in 768 blks
Network total    70.114 Thash/s
Blocks/hour    5.25 / 685 s

One of the Headline news in Yahoo Finance isn't very great.   After Government Raid, Jittery Future for Bitcoin.   It was saying that after the seizure of assets of Bitcoin largest exchange, we are getting nervous.  Are we?  I think most of us took it quite well as this is not the first time Bitcoin is subjected to such treatment.   The Bitcoin prices did not indicate any nervousness of the markets at all.   In fact, it has been extraordinary stable.   I think this is a good quote in the article ""It is a little bit of a hysterical reaction from the U.S. authorities," Jon Rushman, former managing director at BlackRock and a professor at the University of Warwick in the U.K. said in a statement".

Bitcoin 20 May 2013

The current Bitcoin price is $122.80 with an average of $121.87 for the last 24 hours.   Bitcoin has been staying in a very tight range recently which is good for its implementation.  Volume stands at 20 603.36.  

Blocks    236991
Total BTC    11.175M
Difficulty    11187257
Estimated    11973277 in 897 blks
Network total    82.285 Thash/s
Blocks/hour    6.17 / 584 s

Bitcoin in the news with an Interview in PC World with a Bitcoin Developer.   He talks about the various aspects of Bitcoin including the elusive founder Satoshi Nakamoto.   He concluded that to ease the worries for the governments, Bitcoin exchanges should be regulated.   Problem of regulating, I feel will destroy the anonymous nature of Bitcoin.   We next have news on the The Winklevoss Brothers going into Bitcoin in CNN Money.   Wow!  We really have all the major news sites talking about us finally.   There is also an interesting piece in Quartz guessing that Bitcoin's creator is Japanese mathematician Shinichi Mochizuki.   Frankly speaking I feel that the author is extremely far fetched in the guessing.   Everything seems to be a guess without a shred of real solid proof.   By his criteria, I think everyone can be a Satoshi Nakamoto.   Come on give us proof.   There is enough speculations already about the identity but we need real hard evidence.

Crackdown on Bitcoin

This is a new video uploaded to Youtube, talking about the crackdown on Bitcoin systems and suspected that this is due to the pressures from the banking industry.

Bitcoins 19 May 2013

The current Bitcoin price is $123.46841 with an average of $123.81 for the last 24 hours.   This is a narrow range I must say about a deviation of $2 which is stable and good.  Volume stands at 23 091.56. 

Blocks    236839
Total BTC    11.171M
Difficulty    11187257
Estimated    11950572 in 1049 blks
Network total    92.094 Thash/s
Blocks/hour    6.90 / 522 s

This is great exposure and great news from Aljazeera, one of the huge news network that had gain prominence in recent years.   It is saying that Bitcoins' supports promise that Bitcoins can be used in Smartphones and some workers can even be paid their wages through Bitcoins which will certainly revolutionized the banking industry.   You can see the video from Alijazeera here.

Living on Bitcoins for a Week

This is a very cool news article on living on Bitcoins for a Week.  Strongly recommended.  What's more it was carried by the Forbes!   Certainly an influential and fun article.  Enjoy your weekends, Fellow Bitcoiners!

Bitcoin News Video 18 May 2013

Bitcoin is getting so popular that basically we have the mainstream media stalking us online and now on Youtube, you can see a lot of news coming from respectable traditional news media.

From English News Today

From Fox News

We are really getting there.   Some Bitcoin inquiries will be all over the place and I guess we can finally use our Bitcoins at say MacDonalds or 7-11 or Subway?   I really hope such a day will come, not too long from now.

Seizure of a Bitcoin Exchange Account

This was the news I mentioned earlier about Mtgox account being seized.   Hope that they can solve it fast and good!  Mtgox is basically the bedrock of our Bitcoin exchange systems.

An update is here:

Bitcoin 18 May 2013

The current Bitcoin price is $123.50 with an average of $121.44 for the last 24 hours.   This is a narrow range I must say about a deviation of $2 which is stable and good.  Volume stands at 79 463.33.  

Blocks    236635
Total BTC    11.166M
Difficulty    11187257
Estimated    12018011 in 1253 blks
Network total    82.882 Thash/s
Blocks/hour    6.21 / 580 s

Bitcoin news coming from the Los Angeles Times!  Business Section about Bitcoin concept is gaining currency!    This is a great post alright!   It is telling us that Bitcoin came as a rebel but is gaining popularity with Silicon Valley with about 1000 representatives this weekend discussing about Bitcoins!   I love this quote "I think we're starting to see Bitcoin moving out of the shadows of the Internet into something that becomes more mainstream," said Jeremy Liew, a partner at Lightspeed Venture Partners. "We're starting to solve real problems for real people. And that's exciting."   We are getting there Brothers, we are going Main Stream!   Just look at the number of Venture Capitalists mentioned in this article.  It seems that they are all over us wanting to throw money at us to bring Bitcoins into mainstream!   My main worry is the last part which mentions about government intervention.   Hope they won't caused too much a problem for us by introducing some ridiculous laws.

Bitcoin 17 May 2013

The current Bitcoin price is $117.14999 with an average of $114.95 for the last 24 hours.   This is a good $4 more than 16 May 2013.  But is still a gradual move.  Volume is at 43 004.93.   

Blocks    236520
Total BTC    11.163M
Difficulty    11187257
Estimated    11836491 in 1368 blks
Network total    80.929 Thash/s
Blocks/hour    6.06 / 594 s

Not quite a good news today with US Officials Freezing an account related to a Bitcoin Exchange.   Well they are alleging that Mt Gox is conducting "unlicensed money service business".   The USA Treasury Department wants Bitcoin exchanges to be "subject to the same money-laundering rules as traditional providers".

Mt. Gox couldn't be reached for comment. A statement on its website said the company had "read on the Internet" about the warrant.

 Hope that Bitcoin providers especially such a major player the likes of Mt. Gox will be able to settle such issues and push forward to make Bitcoin a main Internet currency of the world.

Coingig.com CEO Comment

"Coingig is working 24/7 to bring the bitcoin world all the products they can buy with fiat available for bitcoin. We want to become the Amazon of Bitcoin!"

We certainly wish them the best and more.  Just to repeat, the url for Coingig - The Bitcoin Marketplace.   Do visit them as first choice if you need anything.  Support Bitcoin's usage!

Coingig.com - The Bitcoin Marketplace

Firstly we are not advertising for anyone for monetary gains.   But we are highlighting the brave new sites that build upon the foundations of Bitcoins.   Technically we have a great and stable wallet now.   There are also more and more transaction tools to help with the buying and selling using Bitcoins.   Our weakest links are to persuade enough merchants to adopt Bitcoins.   Coingig - The Bitcoin Marketplace is one of the early adopters.   Going through their web site, I am glad to see the ease of navigation and payment.   352 products at the last visit.   Certainly hope that they will grow fast and expand with more and more products allowing us to use our Bitcoins easily.

Come on, Bitcoin comrades, give our support to those stores who accept Bitcoins and give them first priority!

Bitcoin 16 May 2013

The current Bitcoin price is $114 with an average of $110.89 for the last 24 hours.   This is a good narrow range which really says something about the stability of our Bitcoins.  

Blocks    236353
Total BTC    11.159M
Difficulty    11187257
Estimated    11721521 in 1535 blks
Network total    77.658 Thash/s
Blocks/hour    5.82 / 619 s

Bitcoin News - The coming political battle over Bitcoin which is quite heartening as it claims that Bitcoin had the attention of the mainstream media.   However further reading is disappointing, as it talked about Bitcoin being misused by criminal elements, as if the USD or any other currency hasn't.  Next on CNN Money, "I would be very surprised if Bitcoin is still around in 10 years," said Bremmer, the founder and CEO of Eurasia Group, the world's largest risk consulting firm.  A doomsday prediction for Bitcoin.   Definitely hope that he is wrong and absolutely wrong.

Bitcoin Gets Venture Funding

Silicon Valley-based accelerator Boost VC is investing up to $350 000 on Bitcoin startups.   This is certainly great news for us Bitcoin promoters.   “We are especially interested in startups that make it easier to actually spend Bitcoin currency,” Boost VC Founder Alan Draper says.   This will be exactly what Bitcoin needs!  More consumers to adopt Bitcoins rather than we Geeks mining and playing around with it as a virtual currency.   Now a respectable VC is putting in real money into our virtual currency to make it adoptable in the real world! 

Bitcoin Wallet

The latest Bitcoin Wallet is version 0.8.1.   It is a maintenance release and not a critical release.  This is a maintenance release that adds a new network rule to avoid a chain-forking incompatibility with versions 0.7.2 and earlier.   This was added in 18 Mar 2013.   Since Bitcoin version 0.5.0 released 21 November 2011 I have not seen any major security bug fixes which goes to show that Bitcoin itself is heading towards stability.   This is a very good show and a confidence booster for those who wants to adopt Bitcoin for their businesses.

Bitcoin Markets 15 May 2013

After the recent upheavals which had seen the Bitcoin breaching $200 and going below $50.  We are now looking at more moderate range for the bitcoin.   The last 30 days still reflect the upheaval quite badly.   The range 50.01 — 166.43438.   But as we can see the latest price now is $106 average of $112.84.  Volume of 119 239.71.   

Blocks    236239
Total BTC    11.156M
Difficulty    11187257
Estimated    11722007 in 1649 blks
Network total    80.575 Thash/s
Blocks/hour    6.04 / 596 s

One important characteristics of currency is stability and usability.  Hoping to see stability, with stability, more vendors will more likely adopt the currency.   The fluctuations is at low of 103.01847 and high of 119.80002 for the last 24 hours.  We are using mtgoxUSD data which is the most popular Bitcoin exchange.

Bitcoin Price

Bitcoin difficulty is now at an astronomical 11187257, it is basically useless to use GPU to mine it anymore even though the prices had gone up about 20 fold to $120.   Those who are still mining are using ASICs more or less.  One of the popular ones being from Butterfly Labs.   I remembered when Butterfly Labs first made their claims on the Bitcoin Forums, they were created with skepticism.   No one really believe that they can achieved.   They did miss some figures but overall, they are doing extremely well.