Should I Do It?30,000 Bitcoins and One Big Auction ["Draper gives an overview of 5th November, 2015, the day his father Tim Draper purchased nearly 30,000 bitcoins in the US government's first-ever bitcoin auction."])submitted by Luke Dashjr - Bitcoin Expert - announcementNew York-based bitcoin exchange itBit has revealed it successfully secured five auction blocks as part of last week's bitcoin auction overseen by the US Marshals Service (USMS).The event saw the government agency oversee the sale of 44,000 BTC (valued at $16.6m at press time) on the open market, with each auction block consisting of 2,000 BTC or more.Bobby Cho, Director of Trading at itBit, told CoinDesk: "We confirm that itBit's auction bid, organized on behalf of a syndicate of our exchange and OTC trading clients, won five blocks in the final USMS auction."The exchange had originally declined to comment on its involvement in the auction, which drew a total of 11 bidders.Still, the announcement marks the second time itBit has secured bitcoins as part of a USMS auction, following its purchase of 3,000 BTC at an auction in March.

The USMS told CoinDesk today that the earliest participants in last week’s public auction could announce they successfully or unsuccessfully secured bitcoins as part of the sale would be tomorrow, stating that undisclosed events had caused transactions to be delayed.However, at press time, details were emerging about the auction, the fourth in a series that has seen the sale of roughly 175,000 BTC confiscated during the investigation into online black market Silk Road.Digital Currency Group subsidiary Genesis Trading, for example, informed CoinDesk that it did not successfully secure any bitcoins as part of the sale.Binary Financial, another publicly identified participant, did not respond to requests for further information as of press time.In the meantime, Reddit users have already begun to speculate as to the results, with evidence emerging that as many as three participants successfully purchased bitcoins as part of the sale.)submitted by π Rendered by PID 11277 on app-162 at 2017-06-24 10:30:47.441652+00:00 running 3522178 country code: SG.

Gemini Trust Co., the U.S.-based digital-currency exchange founded by entrepreneurs Cameron and Tyler Winklevoss, is introducing a daily bitcoin auction to facilitate price discovery and larger trades at lower costs.The auctions, to be held at 4 p.m.ethereum hash gpuNew York time every day including holidays and weekends, at first will support just bitcoin-to-U.S.understanding bitcoin al jazeeradollar trading, and will eventually expand to more currencies.vi tien bitcoinAuction trades will be eligible for as much as a 0.15 percent rebate on trading fees, Gemini said.ethereum ibm microsoftBy adding daily auctions starting Wednesday, Gemini is bringing to bitcoin a feature that’s long been available on exchanges such as the New York Stock Exchange, Nasdaq and Bats Global Markets for other asset classes.histórico cambio bitcoin euro

It’s a step toward making the digital currency more attractive, and easier to use by institutional as well as retail investors, Gemini Chief Executive Officer Tyler Winklevoss said in an interview.sell bitcoin calgary"We believe this is the first-ever end-of-day bitcoin exchange auction," Winklevoss said."Auctions create greater price discovery and liquidity, resulting in a very meaningful final auction price.If you were building a securities exchange today, an auction would be a core feature."Bitcointrades 24 hours a day, but a buyer wishing to purchase a lot of bitcoins may be out of luck at 2 a.m., when there aren’t many sellers around.Gemini hopes to overcome that issue by designating the time when financial markets traditionally close for buyers and sellers to come together and trade.The feature will also help establish the daily bitcoin trading price.The auctions are being introduced just as Winklevoss Bitcoin Trust -– a bitcoin exchange-traded fund -- is awaiting listing on Bats.

The fund’s bitcoin price will be valued daily at 4 p.m.Eastern based on the spot price on Gemini, according to a recent filing.Tyler Winklevoss declined to comment on when the fund may be listed.“We view the launch of an end-of-day auction as a significant step forward for Gemini and the bitcoin industry,” Bats CEO Chris Concannon said in an e-mailed statement.Gemini has operated in the U.S.since last October, after being licensed by New York’s Department of Financial Services.In recent months, the exchange has been expanding into other countries, such as Canada.It does not provide its user or growth numbers.Gemini is expanding its suite of services as the technology behind bitcoin finds uses in industries ranging from supply chain to finance, and more people around the world open bitcoin accounts.The price of bitcoin reached $607.31 on Tuesday, almost triple its value a year ago, according to CoinDesk Bitcoin Price Index.Hackers asking for 1 Million BTC to release dump.Reddit BTC moderator “Jratcliff63367” officially resigned from the subreddit due to its dysfunctional operations and limited discussions.

In his official statement, Jratcliff stated emphasized the censorship on both the Bitcoin subreddit and BTC subreddit, expressing his concerns over two of the largest bitcoin discussion communities.For a long period of time, the Bitcoin subreddit operated by main moderator Theymos has been the most successful and popular bitcoin community.It still faciliates some of the most important and collaborative discussions with developers, users, businesses and enthusiasts.However, as Jratcliff notes, the Bitcoin subreddit began to receive harsh criticisms from non-Bitcoin Core supporters for being censorship-heavy.Theymos along with his other moderators of the Bitcoin subreddit was accused of eliminating any pertinent discussions in regards to Bitcoin Unlimited or alternative solutions other than the technologies being developed by Bitcoin Core.Logically, the reasoning of Theymos and the rest of the Bitcoin subreddit moderators in censoring non-Bitcoin Core discussions can be justified, as the current Bitcoin network is overseen by the Bitcoin Core development team and with the codes the team has written over the past few years.

However, for bitcoin to evolve, bitcoin investors including Ver believes a group of developers or experts need to receive baton to continue the development of bitcoin, the same way bitcoin creator Satoshi Nakamoto passed on his vision to his successors.Bitcoin Unlimited supporters, as well as many miners, firmly believe that the censorship of Bitcoin Unlimited and non-Bitcoin Core solutions doesn’t necessarily benefit the long-term health and development of bitcoin.In fact, they seem to believe that granting one development team the monopoly over a bitcoin network is stalling the development of bitcoin.Evidently, if Bitcoin Unlimited developers and supporters want to force a hard fork in order to place Bitcoin Unlimited on top of the bitcoin protocol, they can simply initiate a hard fork.No organization or individual can stop Bitcoin Unlimited supports from executing a hard fork.Currently, they simply don’t have the support from miners to do so and that is what the Bitcoin subreddit moderators are emphasizing.

Jratcliff specifically mentioned in his statement that the BTC subreddit, despite what it was structured to be, is no longer a platform wherein users freely discuss various solutions, events and activties within the bitcoin industry.As Coinbase Director of Engineering and Litecoin creator Charlie Lee “Sadly, /r/btc is becoming a cesspool.It’s basically a Core/Blockstream/SegWit-bashing, BU-praising echo chamber./r/bitcoin is much better.” Former /r/btc moderator Jratcliff offered a similar insight to Lee, “Today, I find the /r/btc community to be highly dysfunctional.It is not operating as an open and engaging discussion for all things bitcoin.It has become something else.” He adds that users including himself can’t share off-chain scaling solutions on /r/btc due to the community’s ignorance to off-chain scaling.“I no longer think that increasing the on-chain blocksize by any amount will accomplish much of anything.I have a lot of views on this topic.And I have tried to share them both here as well as /r/bitcoin and other forums such as ‘Let’s Talk Bitcoin’.