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.