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Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google's investment arm GV, and billionaire Richard Branson, the company said on Thursday.The investment comes at a time of rising interest in cryptocurrencies, especially bitcoin, which recently hit a record high and has seen a massive rally since the start of the year.Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.In addition, the start-up is looking to open new offices in different countries to expand.Smith said that the recent rally in bitcoin has caused high demand for Blockchain's wallet product, and the funding will help to meet that."We are really focused on scaling to meet the record demand we are getting in the market," Smith told CNBC in a phone interview.

"We started raising this round before the run up in the cryptomarket.It was good timing in the end because while we were closing the round, we were massively up on every level.bitcoin price graph 2014Our traffic has been growing 15 percent week over week in last two weeks."bitcoin cultBlockchain has nearly 15 million sign-ups with "billions of dollars worth of monthly consumer wallet activity", Smith said, adding this includes deposits and transactions.bitcoin singapore miningGross revenue is forecast to be more than 1,000 percent year-over-year in June, Smith added, but could not disclose the specific figure.bitcoin miner software deutsch

Blockchain was founded in 2011 and now has users in 140 countries.Its last funding round came in 2014 when it raised $30.5 million.ethereum jsOther investors in its latest round include Nokota Management, Digital Currency Group and existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Richard Branson.berlin mit bitcoin bezahlenThis gem extends Money::Bank::VariableExchange with Money::Bank::GoogleCurrency and gives you access to the current Google Currency exchange rates.litecoin dollarAn UnknownRate will be thrown if #exchange_to is called with a Currency that Money knows, but Google does not.diy bitcoin farmAn UnknownCurrency will be thrown if #exchange_to is called with a Currency that Money does not know.ethereum event london

A GoogleCurrencyCaptchaError will be thrown if the Google Finance Converter API page responds with a Captcha instead of a rate (#52).A GoogleCurrencyFetchError will be thrown if there is an unknown issue with the Google Finance Converter API.This gem uses Google Finance Converter under the hood.What this means is that if the JPY to USD exchange rate is 0.0083660, Google will report the JPY to USD exchange rate as 0.0084.As a result, a larger JPY to USD conversion such as 10000 JPY to USD would yield 84 USD instead of 83.66 USD.Consequently, this means that small exchange rates will be imprecise.For example, if the IDR to USD exchange rate were 0.00007761, Google will report it as 0.0001.This means 100000 IDR would exchange to 10 USD instead of 7.76 USD.To accommodate for this, the reverse rate will be obtained if the rate is small (below 0.1) and the reciprocal of this reverse rate is used.Copyright (c) 2011 Shane Emmons.See LICENSE for details.The ProblemCorrect, up-to-date information about black market currency rates is hard to collect.

The best source is The Troubled Currencies Project of the Cato Institute, directed by Professor Steve Hanke.Steve H. Hanke, The Troubled Currencies Project, Cato Institute — Johns Hopkins University./research/troubled-currencies-project.What about Iran, Prof?Hanke’s Project has several weaknesses.a) It only releases results on Black Markets twice a year, so those results are out of date soon after they are released.b) The Project’s coverage of Global Currency Black Markets is not comprehensive.For example, it is established below that there is an active Black Market for FX in Iran that is excluded by the Project.c) It contains no model to estimate black market FX rates in economies in economies with troubled currencies.Such a model is helpful in the absence of a reliable, independent data source. is quickly spreading across the globe and it is likely that some of the excluded economies will develop LocalBitcoins trading with time.There are clear financial incentives for citizens living in troubled currency economies to use Bitcoins, as explained in this Case Study of the Use of Bitcoin to Send Remittances to Nigeria.

The latent Demand is there.Input official Exchange Rate of Domestic Currency vs.USD from Google Finance.(This is automated in Google Sheets.)Input official Exchange Rate of Domestic Currency vs.BTC from Google Finance.(, which are expressed in the domestic currency, and take the mean of those prices.I used the first price displayed with a large Limit.This screen-shot from LocalBitcoins Nigeria was taken today (8 Feb.2017) , and not at on the day I wrote and tested the model (3 Feb.2017).Calculate Premium of Mean Local Bitcoin price vs.official Exchange Rate of Domestic Currency vs.BTC.We would expect this premium to be a small negative number (i.e.a discount) in an economy without capital controls and with well-functioning FX markets and with an active, liquid Bitcoin exchange(s).It is easier for users wishing to purchase Bitcoins to use exchanges than to use LocalBitcoins, and there is a great deal more counterparty risk on LocalBitcoins, so you would expect a discount offered by Sellers to attract Buyers off exchanges to LocalBitcoins.

(That said, sophisticated Buyers may prefer LocalBitcoins to exchanges for the increased anonymity of the transaction.)The US and UK were included in the Sheet as References.We see the expected discount in the UK (-0.57%) and US (-1.88%).A premium exceeding 2% suggests the existence of a Black Market.The Model suggests there are not black markets for USD in Russia (Premium 0.62%) and Ukraine (Discount -3.32%).They were included in the original Longlist because both economies have experienced severe currency depreciation in recent years.I understand there was a black market for USD in Ukraine for a period in 2014–2015 but it no longer exists.Source: Blocklink.infoDerive estimate of Black Market rate for USD from the premium in the Bitcoin price on LocalBitcoins over the Bitcoin price measured at official FX rate vs.USD.A useful addition to the model would be to calculate the spread of LocalBitcoin Buy Price over LocalBitcoin Sell Price.///.ar/Results of TestingThe model stood up exceptionally well to testing for data retrieved on 3 February 2017.For all our test cases, VEF, NGN, IRR, EGP, IRS, the absolute value of the error was less than or equal to 2.5%