Friday, December 5, 2014

Bitbillions Launch Day

mission-control

Bitbillions Launch Day

We need to get this out in the open sooner, rather than later. The management of GBBG has decided NOT to launch on January 1, 2015. We are still working out the details with the Founders Advisory Committee and other vital people.
As you all know, December 31st is New Year’s Eve. And, January 1st is New Year’s Day. This happens to be a very important holiday for many people. In the USA, Thanksgiving and Christmas are probably the biggest holidays celebrated. However, around the world, New Year’s Eve/Day are much more celebrated and important to families. Our membership consists mostly of people who do NOT live in the USA. As a matter of fact, a great majority of our membership lives in Russia and other parts of Eastern Europe. This includes a majority of our primary engineers.
Our team has been working nearly around the clock since October 1st getting things ready for launch. By the end of December, most of them will have missed Thanksgiving, Christmas, and other major holidays between October and January, depending upon their various religious beliefs and geographic locations. Many of them have begged for a few days of rest and time to enjoy their loved ones, but they have trudged on knowing how important it is that we get this machine going.
When we launch there will be a great deal of stress on our team. We will be moving from our existing site to a brand-new site (and brand-new server architecture). We expect many exceptions, bugs, glitches, and technical support issues. We fully expect the majority of our engineers to work 18 hour+ days the first few days around launch. Therefore, we feel it would be inhumane and down-right distasteful of us to ask them to commit to this in the middle of a major family holiday.
In order to show the respect and appreciation to our team they deserve, we will give them New Year’s Eve and New Year’s Day off. They will not be required to work extended hours supporting a brand new site. We will delay the launch until a few days after New Year’s so that our members and our staff may enjoy the holiday with their families, and get some much needed rest.
Over half of our membership is also affected by Orthodox Christmas (January 7, 2015) and a few other major holidays near the first of January. We are considering the implications of these holidays as well. Our senior management, along with the Founders Advisory Committee will discuss all these matters and decide on the most appropriate launch date for the site. We will announce this as soon as possible for the members so everyone will be on the same page. We don’t want anyone to miss out when we throw the switch and start the engines.
There will be many more announcements posted in the GBBG News throughout the rest of December 2014. Be sure to check here often for major updates and information concerning the launch.
We wish everyone an amazing holiday season, happy New Year, and an incredibly profitable and productive 2015. Here’s to the wonderful people working so hard on this project. May they enjoy a little rest and relaxation with their families this holiday season, and may they return energized and ready to support a successful launch!
NOTICE: Co-Founder sales will NOT continue past December 31, 2014. All unsold Co-Founder accounts will be claimed by our CEO and his team of investors on December 31, 2014 as announced.

Saturday, November 22, 2014

Mozilla Now Accepting Bitcoin in Response to User Demand

Mozilla
Mozilla, the open-source development community behind the popular Firefox web browser, is now accepting bitcoin donations.
The Mozilla Foundation, the non-profit entity that provides support for the community’s broad open-source development, will be partnering with Coinbase to accept bitcoin contributions. The California-based bitcoin services provider announced the deal on its blog, where it reinforced that, per its policies toward charities, it will not charge fees for the donations it processes.
With the news, Mozilla joins the growing number of non-profit organizations that support open-source and free Web-focused initiatives, including the Wikimedia Foundation, that are accepting bitcoin. In recent months, charitable organizations around the world have slowly begun to turn to digital currency to facilitate donations while removing costs associated with legacy payment methods.
The announcement followed a post on the bitcoin subreddit that asked why the Mozilla Foundation had yet to embrace bitcoin donations.
According to Mozilla vice president Geoffrey MacDougall, who posted a link to the donation page in response, the long-awaited move came after what he called a robust internal process focused on security and compliance.
MacDougall noted:
“We're a large organization and it takes us a while to move things through legal, privacy and security review. There were a lot of steps to getting this in place, but we got it done.”
The move comes more than a year after Mozilla first broached the idea of accepting bitcoin.
At the time, MacDougall took steps to open a dialogue with the bitcoin Reddit community and commented that “there are a number of people on my team” advocating for bitcoin donations.
The Mozilla donations page was operational at press time, though some users had reported difficulties accessing the page earlier in the day.
Image via Wikipedia

Sunday, October 5, 2014

Bitbillions On The Road To Success


road-to-success

I would say I am very energized, pumped up, motivated, excited, and feel like a kid waiting for Christmas every time I think about bitbillions lately. I think the single greatest blessing in disguise our company could have ever wished for has been delivered in the form of taking 2 years to sell all the Founder and Co-Founder positions. We have been given ample time to think, measure, evaluate, and re-think our business plan. And when you have a team of high level engineers working with a team of expert marketers for 2 years, you come up with some pretty ingenious ideas.
I believe we are on the road to success! That being said, I think it is time to describe the big picture to the membership, as well as some details. I will do my best in this post to explain the products we will bring to market, as well as the proprietary systems we will use to deliver them. I will try my best to describe things with enough detail that you can see the enormous potential for earnings represented here. I will also do my best to make sure you have an understanding of the exact plan we have for our business. However, I ask that you understand some details cannot be shared at this time in order to protect the proprietary, intellectual property of our company.

THE LAST 3 MONTHS OF 2014

One thing I am certain of for the remainder of 2014 is that things will pretty much be the same as far as the current website is concerned. There are no planned additions, enhancements, or changes from now until the launch of the Matrix. We will continue to sell the remaining Co-Founder positions, accumulate pre-Matrix pool sharing, and distribute pre-Matrix pool shares based on points earned before the launch. Please don’t get distracted or discouraged. Just because the current site doesn’t change, it doesn’t mean nothing is being done behind the scenes.
From now until January 1, 2015 it is your job to help us build membership numbers and sell the remaining Co-Founder positions. It is also your job to help your referrals become accustomed to earning points and being paid for those points each month. This is the primary reason we announced early profit sharing payouts. We want to drive into the launch of the Matrix with a membership that is active, growing, and accustomed to being paid for points. Although, we all must admit, the payouts will be extremely small during pre-launch.

JANUARY 1, 2015

Our goal is to launch the Matrix Stage of our business plan on January 1, 2015. We intend to do everything possible to reach this target. We are dedicating 100% of our resources to the development of the software necessary for this goal. As CEO of the business, I am fairly confident this timing is reasonable and attainable. Therefore, unless some huge unforeseen event prevents it, we will move into Matrix Stage on January 1, 2015.
When you sign into bitbillions after January 1, 2015 you will notice many changes. Most of the existing backend “Dashboard” will be different. Everything related to pre-launch Earnings Sources, pre-launch referrals, pre-launch points, and pre-launch Co-Founder sales will be gone. We will be entirely finished with pre-launch activities and the pre-launch Compensation plan. Everything will showcase the fact we transitioned to our long-term business plan. From that moment onward, we will officially be in the Matrix Stage and the Matrix Stage Compensation Plan will begin.
To help you understand the “big picture”, and hopefully to help you see the enormous potential for earnings and profits, I will describe the upcoming business model by segmenting it into bite-size chunks. I believe, as you begin to understand each piece of the puzzle and how they relate to one another, you will understand this business has the opportunity to deliver long lasting success to yourself and others for many years to come.

$9 AD NETWORK

As you should be fully aware by now, we generate a portion of our revenue through the sale of advertisements at each of our earnings sources. Advertisers pay $5 per month to place text ads into our distribution system. Members then view these ads to earn points. The advertisers get tons of traffic and promotion in exchange for a $5 payment. Members earn a portion of the revenue by accumulating points.
Very soon we will completely do away with the current advertiser system on the earnings sources. We will replace it with our long-term $9 Ad Network. If you are currently an advertiser who is paying $5 per month for distribution in our earnings sources network, your ads will be “grandfathered” into the new network when we make the transition.
So, say you have an ad on iwantacar and you have paid for it to run for 3 months (October, November, December). Let’s assume we transition into the $9 Ad Network in November. Your ad would be “grandfathered” into the new network for November and December. After the expiration of time you purchased for your ad, it will no longer run. In order to continue your ad on the earnings sources, you will need to create an advertiser account at the new $9 Ad Network. You will then need to pay for distribution on the sources through the new platform, at much different pricing.
If you wish to take advantage of $5 pricing as long as possible, you should purchase 3, 6, or 12 months of advertising on the earnings sources RIGHT NOW. Once we transition to the new ad platform, prices will be much higher on the earnings sources.

Publishers

One major difference between the $9 Ad Network and our current advertising system will be the introduction of publishers. People and organizations who own websites, blogs, mobile apps, and other digital content properties will be able to create a publisher account. These members will then be able to embed our advertising code on the pages of their websites. As we deliver ad content to their pages, they will earn money. Over time, we hope to build a large network of various digital content providers who can deliver millions upon millions of ad impressions daily.
A highly competitive portion of our advertising revenue will be reserved to compensate publishers for the ad space on their pages and other digital properties. Every publisher will earn their share of ad revenue by delivering impressions for the network and clicks for the advertisers. The share due to each publisher will be determined by their percentage of delivery contribution to the entire network. Our system will use a proprietary method to determine delivery value. We believe our compensation model will be fairer, and more profitable than many alternatives in the marketplace. This should attract a large, growing network of publishers.

Advertisers

With the launch of the $9 Ad Network we will make available multiple forms of ad distribution. Advertisers will be able to place text ads, banner ads, and video ads into the system. They will then choose where the ad is delivered. Various options will be available such as “bitbillions site only”, “publisher network only”, “bitbillions site + publisher network”, etc. Advertisers will simply pay $9 for a 30 day rotation of their ad throughout the location(s) of their choosing. There will be no cap on the number of impressions or clicks they can receive during the 30 days their ad is live.
Advertisers will also be able to purchase points for purpose of distributing their ads to the various earnings sources. This will be an excellent option for advertisers who want instant traffic to their site, or want to build quick awareness of their product, site, or offer.
We intend to slowly introduce geographic and demographic filters to the ad network, as our membership and the number of publishers grow. Eventually, we will allow advertisers to pinpoint a delivery audience through these filters. This will make our network more attractive to advertisers in the long-term. It will also allow us to segment our publisher content so that we may maximize revenue while delivering the most cost-effective results possible.
As our network of publishers grows, and the traffic on bitbillions grows, advertisers will see increasing exposure and results from their ads. Over time, we are certain this will attract a large, growing number of advertisers to our network.

Members

A portion of revenue from every ad placed into the $9 distribution will be contributed to the Founders Pool, Co-Founders Pool, and Members Pool. The membership of bitbillions will share these revenues based on their share of points earned. In addition, members can earn a Matrix Bonus and a Direct Referral Bonus based upon the activity of the members in their genealogy.
If you are astute, you noticed I mentioned the ability for advertisers to “purchase points” earlier. Members can also earn money through points by viewing ads distributed to the various earnings sources. And this brings me to the next MAJOR change you can expect when we launch the Matrix.

MINIMUM BASE POINT VALUES

For the membership, the single most important difference between the pre-launch compensation plan and the post-launch compensation plan will be the implementation of minimum base point values. Every single point will have a minimum value. This mean each member can easily assess the value of the time they spend earning points. We also expect it will make it much easier for members to attract referrals to the system.
Prior to the launch of the Matrix, point values are solely based upon the revenue that happens to be distributable to the three revenue pools. They are 100% unpredictable. As bitbillions sells banner ads and other services, they pour 50% of the distributable amount into the pools. The current value per point is a mathematic relationship between the amount in the pools and the number of points in each pool. This will change with the launch of the Matrix.
Every point earned after the launch of the Matrix will have first been paid for at a set price. There will be various clients that will purchase points for various reasons. They will use these points to attract members to various tasks. As I said earlier, advertisers are one type of client who may purchase points. It is easy to understand an advertiser would use such points to award members for viewing their ad.
Because each point earned after the launch of the Matrix was first purchased by a client, it will have a fixed base value. This base value will be published on the first day of each month and will remain constant during the calendar month. Each point earned will be guaranteed to earn at least the minimum value. However, points can increase above the minimum value as additional revenues pour in from other non-point related sources (such as the $9 Ad Network and GBBG|ware).
To help you understand this, let’s imagine a hypothetical situation. Let’s imagine today is the first day of the month. You sign into your bitbillions account and see that for this calendar month all points will have a base value of $0.10 each. The company sells hundreds of thousands of points to various clients, such as advertisers. You earn 5,000 of these points by viewing ads, reviewing products, or performing other tasks. You are guaranteed to earn a minimum of $500 from your points.
The company may generate other revenue from non-point related sales. A portion of this revenue will be added to the point values causing them to be worth more than the stated minimum value. So, each month you can predict the minimum amount you will earn from your points, but you should realize it will almost always be higher. In addition, you can earn a Matrix Bonus and a Direct Referrals Bonus if you have an active genealogy of referrals.

PROPRIETARY SOFTWARE

We have been working hard the past few years on a proprietary system to generate revenue, meet a certain market demand, and provide an online income opportunity for people throughout the world. This system will be released in its initial composition at the launch of the Matrix. While I cannot release any details at this time, I will say the system is exactly in line with the core values and proficiencies of GBBG.
We intend to release the first stable version of our proprietary API that will drive our product for the long-term. Developers throughout the world will be able to use our API to interface with our system, our entire membership, and other networks. This proprietary system will provide a solution to a need we have found in the marketplace that is under-filled. Because of the ingenious methodologies we are developing, we feel we will attract a multitude of clients from around the world who will line up to purchase points that can be distributed and utilized to meet various needs of various organizations.
Our proprietary system will allow for the simultaneous existence of internal and external processes that each generate revenue for bitbillions. It will allow for the simultaneous existence of dependent, independent, and inter-dependent processes. We feel it has the capacity to attract clients of different sizes and needs, from small family businesses to multi-national conglomerates. As clientele grows we will garner feedback and usage data to add features and enhancements.

MULTIPLE PAYMENT OPTIONS

As we have been laying the foundation for our upcoming Matrix launch, we have held discussions with various parties related to various aspects of our business. A resounding common theme has emerged from these discussions. The current bitbillions business plan is restrictive and attractive to an extremely limited, marginal audience. We have an extremely limited ability to attract clients and build membership.
Why? Because our system is built upon the concept of earnings through Bitcoin.
While most members love and appreciate bitcoin, the great majority of the world’s population does not. Out of the 7+ BILLION people on earth, it is estimated that less than 1 million have ever used or experienced bitcoin. This means we are alienating over 6.9 BILLION people from our system.
We do not want to alienate anyone. Especially potential future clients. Instead we want to maximize opportunity for growth in every aspect possible. Therefore, we have decided at the launch of the Matrix to provide the ability for members to receive their pay through multiple sources. Rather than force our membership to accept bitcoin as payment for their points, we will give them several options. If they wish to receive bitcoin, they can. If not, they can simply choose one of the various other payment providers and receive their payments in fiat currency such as the US Dollar or Euro.

SUMMARY

From now until the end of 2014 it will pretty much be business as usual for bitbillions. The site will not change. Members will earn points in the same manner they do today and they will be compensated on the 15th of each month for referral upgrades and pre-launch revenue sharing pools.
At the launch of the Matrix on January 1, 2015 everything changes. The site will be much different from what you see today. New ways to earn points will be displayed. Multiple streams of revenue will be flowing in. The $9 Ad Network will be going full-steam ahead. And every point will have a guaranteed minimum base value each month.
Throughout 2015 we will introduce the world to a proprietary API developed to meet an under-met need in the market. We will introduce this technology to businesses throughout the world and do our best to attract a growing number of paying clients. We will simultaneously deploy this technology as a web-based application and a multi-platform mobile application. We will garner feedback from our clients and work to enhance our systems so that they provide invaluable results.
I am so excited about the prospects for our future API that I can hardly contain my own energy. Every day I think of incredible applications of the technology. It will deliver powerful and effective solutions to so many different clients I can’t even stop imagining them all. And best of all, it will provide a sustainable, growing income for people all over the world.
My prayer is an amazing, incredible, awesome, extremely profitable 2015 for every member of GBBG|bitbillions!
David Ruebush
CEO

Tuesday, September 23, 2014

PayPal Announces First Partnerships in Bitcoin Space

(@pete_rizzo_) | Published on September 23, 2014 at 18:19 BST

papypal paymnts hub
PayPal has announced partnerships with the three largest payment processors in the bitcoin space – BitPay, Coinbase and GoCoin.
Though the online e-commerce pioneer stopped short of integrating bitcoin into its digital wallet or payment processing services directly, the move marks PayPal’s first formal offering to the bitcoin community.
In a blog post penned by senior director of corporate strategy Scott Ellison, PayPal revealed that online merchants will now be able to accept bitcoin via all three companies through its PayPal Payments Hub, its product that enables customers to accept credit cards, mobile carrier payments and other payment methods through a single integration.
Ellison lauded BitPay, Coinbase and GoCoin for their commitment to ensuring consumer protections on their platforms, while suggesting that the offering will appeal to a number of its key customer groups, writing:
“We believe digital goods merchants will be excited to work with these industry-leading companies to sell ringtones, games and music and get paid with bitcoin.”
Notably, the announcement follows the decision of PayPal subsidiary Braintree to partner with Coinbase earlier this month.
PayPal is available in 193 markets and 26 currencies. With 143 million active registered accounts and $6.6bn in revenue at the end of 2013, the e-commerce giant brings the potential for new users and new business to the bitcoin economy.

Embracing innovation

Ellison went on to suggest that PayPal is committed to embracing innovation, and that this has lead to its early support of bitcoin. Further, he suggested the company will be monitoring its first formal bitcoin trial to assess how it moves forward with the payment method, writing:
“We’re proceeding gradually, supporting bitcoin in some ways today and holding off on other ways until we see how things develop.”
PayPal cited its commitment to allowing businesses freedom of choice and promoting safer buying experiences as key reasons for its decision.
BitPay, Coinbase and GoCoin will pay a referral fee to PayPal for new business they gain through the platform, meaning their existing pricing structures will be unaffected by the move.

Support for select business models

Ellison framed the decision as the latest way PayPal is seeking to support the bitcoin ecosystem, pointing to its past efforts to help companies in the bitcoin mining space accept PayPal for their products.
However, Ellison suggested that PayPal is conscious of the controversies that have dominated this segment of the bitcoin industry, and that its support will continue for merchants that meet certain criteria, writing:
“To safeguard customers, we’ve decided not to work with merchants who pre-sell these products. This is consistent with our approach to pre-sales of other goods; we hold off anytime we determine that pre-selling may not provide a good buyer experience.”
In recent months, a number of bitcoin mining companies, including early and current market leaders such as Butterfly Labs and CoinTerra have faced lawsuits from customers for failing to deliver equipment on advertised timelines.

Addressing security concerns

In his statements, Ellison also suggested that PayPal has been monitoring conversation surrounding how bitcoin will be regulated, clarifying that PayPal will only seek to work with bitcoin companies that offer certain consumer protections.
Reitterating that PayPal needs to follow local laws and regulations in every market it serves, Eillson wrote:
“For this reason, virtual currency exchangers and administrators interested in working with PayPal in the future must secure the appropriate licenses and put anti-money laundering procedures in place.”
At the time, PayPal also suggested it is only seeking to promote bitcoin, stating that while other cryptocurrencies have been available for some time “only bitcoin has achieved significant scale” in the payments space to date.
Images via PayPal

Wednesday, September 10, 2014

Bitbillions Early Pool Share Payouts


pay-day

Bitbillions Early Pool Share Payouts

As we get close to the last quarter of 2014, we want to ramp up excitement for the Matrix Launch. We also want to help you grow your business so you can maximize your earnings when the Matrix goes live in January 2015. Therefore, we decided the best way would be to announce early Pool Share payouts.
As of September 1, 2014, all points are now worth money!
As you know, when the Matrix is live, you will earn from three sources: Profit Pools, Matrix Bonus, Direct Referral Bonus (see the Compensation Plan for details). We will phase into full-scale pool share payouts over the last 3 months of 2104. This will prepare the entire membership for monthly profit sharing when the Matrix is live. Before we explain this incredible opportunity we want to make sure you clearly understand this is only the Profit Pool payouts. This is not early payouts on the Matrix Bonus or Direct Referral Bonus.
For the last three months of 2014, on October 15th, November 15th, and December 15th, we will payout compensation based on a portion of each pool. The amount we will reserve for payouts each month is as follows:
  • Founders Pool: 1 bitcoin
  • Co-Founders Pool: 1 bitcoin
  • Members Pool: 2 bitcoins
Founder members will earn from the Founders Pool, the Co-Founders Pool, and the Members Pool.
Co-Founder members will earn from the Co-Founders Pool and the Members Pool.
Free Members will earn from the Members Pool.
The payout on October 15th will be based on the total accumulated points from the beginning of bitbillions through September 30th, 2014. We expect this first payout to be an EXTREMELY SMALL payout for every member. Why? Because there are around 35 MILLION points accumulated by all members. So, if you divide 2 bitcoins by 35 million, it naturally will be a very small number.
The payouts from November 15th onward will be based ONLY on the points earned in the prior month, exactly like payouts will function when the Matrix launches. We expect them to be EXPONENTIALLY BIGGER than the payout in October.
As you can see, this plan accomplishes a few important things. First, it wipes out the massively accumulated 35 MILLION points in our membership, while preserving the bulk of the pool shares for the Matrix launch. Second, it allows members to become accustomed to Pool Share payouts based upon the prior month’s points. Third, it allows us to EXPONENTIALLY increase the value of each point at the Matrix launch.
To help you understand the payouts and projections for the Matrix, we modified the Transparency page. In the “Pools Summary” section, you will now see a summary for each month (SEP, OCT, NOV) and the projected payouts the following month (OCT, NOV, DEC). You will also see a “Matrix Launch Pools” summary that projects the point values and payouts using the remaining balance of coins in each pool divided by ONLY the prior month’s points. As we progress toward the launch, you will have a very accurate picture of what each point will be worth heading into 2015.
Start getting those points! They are now worth MONEY! Spread the word and let your referrals know. EVERY member (free, Co-Founder, or Founder) is earning MONEY for their points now.

Monday, September 8, 2014

PayPal Video Sparks Rumors About Potential Bitcoin Plans


(@tom_sharkey) | Published on September 8, 2014 at 19:05 BST

PayPal has sparked speculation in the wider digital currency community with the release of a new promotional video that makes reference to bitcoin.
The video, titled ‘PayPal Voices’, was published on the company’s official YouTube page today.
The one-minute promo features a string of actors who are described as “the voices of the people economy”, extolling the benefits of using PayPal. Bitcoin is mentioned just 10 seconds into the video in the following voiceover passage:
“Our phone is our wallet. We can spend bitcoin with a tap, without a pocket.”
The news provides the latest evidence that either the eBay-owned company or its mobile payment processing subsidiary Braintree might move to integrate bitcoin into an upcoming project.
First reported by The Wall Street Journal this August, such speculation was given yet another boost today in an article by Re/code that suggested Braintree’s announcement may come as soon as today.
Braintree was acquired by PayPal in September 2013. PayPal itself is a subsidiary of eBay, one of the largest e-commerce companies on the web. Outspoken bitcoin advocate Marc Andreessen sits on the board of eBay.

Speculation mounts

At the time of writing, PayPal’s only reference to bitcoin integration is the excerpt from the video.
Still, speculation has run rampant, with more than 400 comments about the video splattered across YouTube and reddit.
Notable bitcoin investor and SecondMarket executive chairman Barry Silbert has joined in discussing the significance of the video:

More information needed

Details are still sparse, and even if the video is proven to be authentic, it’s not entirely clear what plans PayPal has for the digital currency.
While the video does not necessarily mean that PayPal will integrate with bitcoin, the timing of both Re/code’s news and the video raises many questions.
The bitcoin community has been vocal about the relationship between PayPal and bitcoin in the past. Many argue that the digital nature of bitcoin lends itself perfectly to PayPal’s business model, while others contend that bitcoin doesn’t need the support of a centralized platform to flourish.
Whatever the case may be, a PayPal-bitcoin integration would certainly shake up the industry and bring the digital currency significantly more visibility with the general public.
CoinDesk is continuing to follow this developing story. At press time, neither PayPal nor Braintree had responded to requests for comment.
Image credit: Denys Prykhodov / Shutterstock.com

Thursday, September 4, 2014

PayStand Releases Bitcoin Plugin for WordPress Merchants


(@pete_rizzo_) | Published on September 4, 2014 at 15:01 BST
wordpress
PayStand has released an e-commerce plugin for WooCommerce that will give WordPress merchants a new way to accept bitcoin.
With the news, PayStand joins BitPay to become the latest bitcoin payments processor to integrate its services with WooCommerce. The free e-commerce toolkit is a popular method for WordPress websites to accept payments.
Speaking to CoinDesk, PayStand CEO Jeremy Almond suggested that his company’s solution could offer a more attractive option to WordPress merchants who are testing the waters with the cryptocurrency.
In addition to bitcoin, PayStand allows merchants to accept credit cards and e-checks, features that Almond said will enable his company’s plugin to find a unique audience.
Almond told CoinDesk:
“Cards aren’t going away tomorrow. [...] We can go to a WordPress merchant and say, ‘Here’s an offering where you can still take cards and electronic checks, but you can offer something that is free for transactions.’ [Bitcoin is] global and it solves a lot of problems around payments.”
PayStand’s news is the latest in a series of developments involving the wider WordPress community and bitcoin.
In November 2012, WordPress itself announced that it would allow customers to buy upgrades using BitPay. The development is often cited as a milestone for bitcoin’s merchant processing community, as the platform was one of the first major brands to endorse digital currency.

Meeting developer needs

Almond stressed that his company’s WooCommerce plugin tool aims to appeal to both novice business owners and more established developers looking to integrate a bitcoin payments offering into their website.
Framing his new offering as flexible to the needs of both demographics, he said:
“Our process is very simple, one click of a button you can install the product, so it’s not very complicated, you don’t need developers to do it, you can have credit card processing right next to it. You can turn it on and turn it off, it’s very easy to use.”
Established developers, in turn, will be able to use PayStand’s API to build out more extensive and unique solutions, Almond added.

Bitcoin key to business model

The CEO went on to brand the offering as a natural fit for his company given that WooCommerce is one of the most used shopping cart toolkits, and that WordPress powers one in five e-commerce websites.
He told CoinDesk:
“Our business ultimately wants to see bitcoin thrive, so going places like WordPress and other mainstream areas where we can continue to get your everyday merchant aware and able to take payments and that’s a key goal for us.”
While PayStand offers multiple payment options, Almond stressed that the company simply wants to serve as a bridge to emerging payment types.
Though he declined to offer specific figures, Almond said he has been pleased so far with the number of PayStand merchants that have enabled the company’s bitcoin payment option since his service launched in April.
He concluded:
“Our goal is to build a bridge from traditional to next-generation payments, and I think our strategy is working for our merchants.”
Images via WordPress and Shutterstock

Tuesday, August 12, 2014

Payza Introduces Bitcoin Buying Option in 190 Countries


(@pete_rizzo_) | Published on August 11, 2014 at 22:00 
Global online payment processor Payza has announced it is now offering customers in 190 countries the ability to buy bitcoin via bank transfer.
Payza took to its official blog to reveal the news, though this formal announcement followed preliminary tweets from both Payza business development consultant Charlie Shrem and the London and Montreal-based company itself.
In its formal remarks, Payza hinted that the bitcoin buying option will allow it to pursue larger goals in the bitcoin and digital currency space, stating:
“This is our first step into the exciting space of cryptocurrency, currency that exists solely in the digital world. At Payza, we’re very interested in bitcoin and cryptocurrency, and we have big plans to expand the way bitcoin can be used on our platform.”
Payza first detailed its plans in the digital currency space in a May blog post that discussed bitcoin’s potential as a payments tool. This interest was further made evident in July, when Payza confirmed rumors to the The Wall Street Journal that Shrem was serving the company in an advisory role.

Targeting merchants

Speaking to CoinDesk, Shrem elaborated on Payza’s goals, suggesting that the company’s biggest opportunities may be in catering to bitcoin’s merchant space.
He explained that, unlike popular alternatives such as BitPay and Coinbase, Payza could become a one-stop solution for new merchants that want to capitalize on bitcoin but offer multiple payment methods.
“[Payza will] be the only company where if a merchant actually wants to accept both credit card and bitcoin, they only need to work with one company,” he said.
Shrem indicated that Payza does not charge users to deposit funds into their accounts, but that a 2% charge for users who buy bitcoin via the platform applies. Buyers lock in the price of bitcoin upon purchase, however, the withdrawal process can be expected to take up to three days.
Given that users are not charged to send funds through Payza, Shrem also remarked that the offering could position the company to become a player in the remittance space, adding:
“[We're] drastically bringing down the price of remittances – 2% total end-to-end. We’re going to be adding the ability to send deposit in bitcoin as well, so you can move bitcoin between accounts and it won’t cost anything.”

Refining the product

As for why the product took some time to reach market, Shrem attributed the somewhat lengthy process to Payza’s desire to ensure its first offering was ready for bitcoin consumers.
Shrem pointed out that Payza decided on five phases for the rollout, and that in addition to the development work, phases included training customer service and securing support from banking partners.
He said many of these considerations were the product of Payza’s near-decade of experience in the payment industry, working with both regulators and its banking partners.
Shrem explained:
“Payza has very good relationships with regulators already [...] With bitcoin companies [...] they don’t have compliance officers, they’re kind of new to the scene, they don’t know what’s going on. With Payza, it’s kind of refreshing for me because I’m used to working with startups, working with a company like them is very organic and it’s a lot easier to get things done.”

Creating an account

Larger goals aside, Payza has also given consumers a first look at how its new offering will look, and what it will require from bitcoin buyers.
To create an account, users first select the country in which they reside before then electing to open a personal or business account.
Both accounts allow users to collect payments, exchange currencies and make payments via the platform.
payza
Users then provide their first and last name, email address and create a password before validating their email.
To transact, Payza users need to then complete their profile with the service, providing information such as their job title, industry of work and Social Security number.
Then, users input their address, phone number and create security questions to ensure the safety of their account.
payza

How it works

Called the ‘Withdraw Funds by Bitcoin’ feature, Payza boasts that verified users can buy bitcoin in three steps: withdrawing funds, verifying the currency and confirming the transaction.
To start this process, users click on the ‘Withdraw Funds’ button on the top corner of their account screen. Next they select ‘Bitcoin’ from a list of available options that includes bank transfer, bank wire and credit card.
payza
Finally, Payza customers enter the amount of funds they want to withdraw. Users must withdraw a minimum of $20 to complete their order.
Business man image via Shutterstock

Monday, August 4, 2014

$46k Spent on Bitcoin Mining Hardware: The Final Reckoning


(@scurlock_jg) | Published on July 27, 2014 at 16:55 BST
In the two previous articles of this series, Dario Di Pardo listed the highs and lows of having spent many thousands of dollars on pre-ordered bitcoin mining hardware and then having to endure delays, poor communication and broken promises, as some of the companies failed to provide the promised equipment in time.
In this last part of the series (see one and two here), Di Pardo tells CoinDesk which companies finally came good on their promises and which left him wishing he’d just spent his bucks on bitcoin. Di Pardo told CoinDesk, if he had one learned one thing from the experience, it was: ¨No more pre-ordering for this guy.¨
Mining shaft

Prospero X3Vendor: Black Arrow
Product: Prospero X-3 (converted to bare chips)
Price including shipping: $4,978
Order date: 18th November 2013
Anticipated shipping date: 24th February 2014
Actual shipment date (chips): 11th July
Delay: 5 months
Status: Converted to ASIC chips
As somewhat anticipated, Black Arrow missed their revised shipment date of 8th May.
According to the company, they have been experiencing issues concerning the miner’s backplane, which are causing almost two months of additional delay.
Black Arrow recently announced the issues to be resolved and that both X-1 and X-3 miner orders would be dispatched by the end of July.
Together with the company’s latest news update, the option to convert pre-ordered miners into bare ASIC chips was provided, implying that each X-3 order could be exchanged for 100 ASIC chips, whereas you would get six chips for an X-1 order.
When a mining company starts offering a miner-for-chips exchange, it might be a good idea to go with the offer, or you could end up with nothing at all, as I learned from my experience with HashFast. With this in mind, together with the now huge delay in shipment and the fact they are not increasing compensation further to match competitors’ prices at shipment time (which they said they would do earlier), I decided to go for the chips.
Obviously, one cannot mine with chips alone. Fortunately, Technobit, a Bulgarian company, would be capable of turning these chips into mining rigs, where each 400 GH/s rig would contain four ASIC chips.
Because Minersource, a mining gear and co-location company as well as Black Arrow’s US-based reseller, organized a group buy for all customers who converted their order into chips, the board assembly at Technobit can now be purchased at a discount. Even more, they managed to provide us a deal where each board assembly can be alternatively paid for with four additional chips.
So with some money on top for chip coolers, controllers and power supplies (controllers and power supplies not necessary when opting for co-location), I would get a 5 TH/s miner with a price tag that matches today’s stock prices, instead of the now overpriced 2 TH/s X-3 miner (excluding the 1 TH/s compensation Black Arrow would send after all current orders have been shipped).
Technobit is currently in the process of assembling all miners for the group buy, which will take about two weeks to complete.
Although none of the X-3 orders have been currently shipped, some X-1 customers are now reporting receiving their hardware.

HashFast Sierra minerVendor: HashFast
Product: Sierra (1.2 TH/s)
Price including shipping: $6,696
Order date: 18th November 2013
‘Guaranteed’ delivery date: 15th February 2014
Status: Bankruptcy announced 7th June (no product or refund received)
Not surprisingly, HashFast entered bankruptcy under chapter 11 on 7th June.
As a result and most unfortunately, when that ship went down, my money went down along with it.
Because I initially wasn’t included in the list of creditors the company presented to the bankruptcy Trustee (no surprise there either), I filed my claim online through the court’s site.
I can only hope at this point that as a result of the reorganization process, I will get at least some of my money back.

fast-hash one platinumVendor: Virtual Mining Corporation (VMC)
Product: Fast-Hash One Platinum Edition (1 TH)
Price including shipping: $6,479
Order date: 24th November 2013
Anticipated shipping date: January 2014
Status: Refunded 23th June
In addition to the Wood Law Firm investigation, Virtual Mining Corporation and its parent company Active Mining Company are now under investigation by the Missouri Secretary of State because the CEO of both companies, Kenneth Slaughter, wasn’t following proper procedures when soliciting investors.
Maybe as a result, shortly after this announcement the company’s website went offline and is now only displaying a refund form intended for former customers.
After applying for my refund using this form, I almost immediately got the order amount transferred to the bitcoin address provided.
Although glad I made it out if this adventure with only some minor remaining health issues, I feel sorry for the many customers still waiting for their money.
If the company will manage to ever get back on its feet, is yet to be seen.

Coincraft minerVendor: Bitmine
Product: CoinCraft Desk 1 TH/s (+ 0.4 TH/s compensation unit)
Price including shipping: $5,758
Order date: 28th November 2013
Anticipated shipping date: February, week 1
Actual shipping date: 2nd April
Delay: 7 weeks and 2 days
Status: Miners performing well
Bitmine has manufactured some sturdy mining hardware, with both the 1 TH/s Desk and the 0.4 TH/s compensation unit I received hashing continuously and flawlessly for over three months now.
However, because of the delays in shipment of the CoinCraft Desk and CoinCraft Rig that resulted in many disappointed customers, the company is struggling to keep afloat.
Due to the many refund requests which caused a shortage of funds, Bitmine is now postponing further refunds to customers till as far as October, much to the their frustration – a similar situation CoinTerra customers have been facing.
To raise the necessary funds to survive, the company is now offering hosted mining plans and a revised, lower priced 1 TH/s CoinCraft Desk.

knc, neptuneVendor: KnCMiner
Product: Neptune (converted to 3 TH/s Jupiter)
Price including shipping: $10,175
Order date: 2014-01-07
Anticipated shipping date: Q2 2014
Actual shipping date: April 29th
Delay: None
Status: Miner repaired
The repair process of the seven broken boards was fairly smooth and a few days after sending back to KnCMiner the broken ones, I received new boards – properly packed this time.
The 28nm Jupiter miner I took in exchange for my Neptune order now hashes away steadily at about 3.1 TH/s while consuming around 3,800 watts at the wall, which averages out to about 1.22 W/GH/s.
The new 20nm Neptune miner that has been shipping as of the end of June, hashes at around 3.3 TH/s while only consuming half the power per gigahash than its younger brother does.
Despite the efficiency improvement and the fact that Neptune customers – at least those who took the time to read the offer’s small print – will additionally receive a compensation unit in August, I don’t think I made too big of a deal when converting my order after all, as I got the Jupiter rig two months earlier.

Alpha Viper minerVendor: Alpha Technology
Product: Viper (Scrypt) Miner (250 MH/s)
Price excluding shipping: £5,450 ($8,984)
Order date: 2014-01-10
Anticipated shipping date: July 2014
Delay: None
Alpha Technology eventually announced further increasing the performance of both available Scrypt miners, to match competitor products at shipment time.
The 18 MH/s Viper will now be performing at a minimum of 50 MH/s, whereas the 90 MH/s miner will be hashing at a minimum of 250 MH/s.
While approaching the July shipment deadline, the company went awfully quiet.
Whether this will prove to be a positive thing, has yet to be discovered.

CoinTerra TerraMiner IVVendor: CoinTerra
Product: TerraMiner IV 2 TH/s (converted to 2x 1.6 TH/s)
Price including shipping: $7,253
Order date: 2014-01-12
Anticipated shipping date: May 2014
Actual shipping date: 29th May
Delay: ‘None’
Status: Converted to 2x 1.6 TH/s miners
After still not getting any replies to my emails I sent to the CoinTerra support team asking for a (partial) refund, I took a hint from one CoinDesk commenter and decided to call them instead.
The experience turned out to be pretty similar to participating in a telephone game where you’d have to be the 100th caller in order to win a prize, except that you’d probably win said prize sooner than someone from CoinTerra actually answering the phone.
However, when you get a hold of somebody eventually, you realize the company has some great support representatives working there who really care about your case.
But as time IS money in this business, the company really ought to expand its support staff in order to limit customer frustration.
After a long period of mailing and calling back and forth I took the presented offer of getting an additional TerraMiner IV (1.6 TH/s) for an extra $1,000. Additionally, I opted for the cheaper (ground) shipment option instead, to reduce the extra costs.
Getting two miners for a total of $7,000 excluding shipping costs wasn’t the best offer after all, as a few days after I accepted the deal, you could buy a single, now in stock TerraMiner for $3,000.
My pre-order was finally sent out on 29th May, 7 weeks after they began shipping from stock.
After about 10 days of operation one TerraMiner broke down and had to be sent back for repair. As a result, I lost about a month of (precious) mining time from this machine.
To this day, the hashrate of both rigs combined remains unstable, varying between 2.7 and 3.0 TH/s.

Bitmain AntMiner S3
Vendor: Bitmain
Product: AntMiner S3 batch 1
Price including shipping: 0.75 BTC
Order date: 2014-06-30
Anticipated shipping date: 20th July
Actual shipping date: 20th July
Delay: None
Status: Hashing
To discover what all the fuss was about, I decided to order the latest AntMiner from Bitmain.
The S3, a product that has been selling like hotcakes since its release, reaches hashrates up to 441 GH/s while consuming merely 340 watts from the wall.
No surprises, no delays, no tricks, but plain getting what you paid for, as you would expect from any other decent company.
Bitmain even offered compensation in the form of a 10% coupon or seven percent refund, because actual specifications were slightly off initial specifications.
Mining image via Shutterstock

Friday, July 18, 2014

BitPay Launches Facebook App for Easy Bitcoin Sharing

(@pete_rizzo_) | Published on July 17, 2014 at 22:43
Georgia-based bitcoin merchant processing specialist BitPay has announced a new tool aimed at spreading bitcoin adoption through popular social network Facebook.
Called Get Bits, the Facebook application allows users an easy way to trade bitcoin in-person by helping to arrange meetings between friends on the network.
get-bits-logged-in
Notably, Get Bits does not allow users to transact through the app. Rather, it serves as a way for independent buyers and sellers to connect via a commonly used platform.
BitPay framed the launch as one that sought to use the power of social networking to boost bitcoin, while leveraging Facebook’s utility as a social login to preserve security in the process.
The company said:
“Because bitcoin is one of the only forms of payment which cannot be fraudulently reversed, selling bitcoin usually requires some level of trust in the buyer. To deal with this, Get Bits currently leverages the world’s largest ‘web of trust’, Facebook.”
Users can sign into Facebook to view a list of friends that are using the program. From there, Get Bits allows users to gift and trade bitcoin or invite others to the program.
BitPay further advised that users should exercise caution during in-person exchanges, adding:
“If a friend is interested in buying a significant amount of bitcoin from you, please consider exchanging in a physically secure environment.”
The launch comes amid a boom in the number of bitcoin companies seeking to leverage social media to spread digital currency adoption. In May, San Francisco-based QuickCoin launched a social wallet, while Uruguay-based Moneero launched with a social focus in July.
Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay

Tuesday, July 15, 2014

5 Bitcoin Trends That Have Emerged in 2014 (So Far)


(@tom_sharkey) | Published on July 13, 2014 at 11:11
The bitcoin landscape is evolving so rapidly that it’s hard to believe we’re already halfway through the year.
Like any new industry, there are so many areas to explore in the bitcoin space that a week’s worth of developments can sometimes feel like a month or two have gone by.
Bitcoin has certainly seen a lot of action in 2014. The collapse of Mt. Gox, hefty venture capital investments in bitcoin startups and the US government auction of 30,000 bitcoins seized from the Silk Road all generated buzz in the mainstream media.
bitcoin trends 2014
CoinDesk’s recent State of Bitcoin Q2 2014 report highlights some of the key developments that have influenced bitcoin’s journey over the past few months, providing context for the digital currency’s ever-changing position in society.
While only time will tell what’s in store for bitcoin’s future, a number of trends have emerged in the industry this year that could shape the direction and velocity of bitcoin’s growth.
Here are five bitcoin trends that have emerged in the first half of 2014:

1. Big-name retailers jumping on board

The year started with a bang when Overstock became the first major retailer to accept bitcoin. News of Overstock’s success with the digital currency served as a signal for other large companies to follow suit.
Electronics retailer TigerDirect integrated bitcoin as a payment option by the end of January, and other household names like the Sacramento Kings, Lord & Taylor and REEDS Jewelers got on board soon after.
By the end of June, three companies with at least $2bn in annual revenue had begun accepting bitcoin: DISH, Expedia and Newegg.
With smaller businesses also continuing to accept bitcoin at a fervent pace, we estimate that around 100,000 merchants will accept bitcoin by the end of 2014:
Figure 6: Bitcoin Accepting Merchants - Total Current and Forecasted 2014 Year End
State of Bitcoin Q2 2014

2. A warming regulatory climate

While it certainly hasn’t been all smooth sailing between governments and bitcoin this year, it seems like tides are changing and regulators around the world are starting to take a more open-minded approach to the digital currency.
In the beginning of 2014, China’s stance on bitcoin was ambiguous at best. By April, China’s Central Bank Governor said that banning bitcoin was “out of the question,” referring to it as more of an asset than a currency.
Russia, after releasing stern warnings about bitcoin early this year, recently reconsidered its stance on the digital currency.
Gerogy Luntovsky, the deputy chairman of Bank of Russia, explained that his agency is going to take time to examine bitcoin as the industry continues to evolve:
“At this stage, we need to watch how the situation develops with these kinds of currencies. These instruments should not be rejected.”
Progress has also been made in places like California, where Governor Jerry Brown has granted bitcoin ‘legal money’ status, and Switzerland, where similar ‘legal money’ regulations are being considered.
Regulators seem increasingly willing to hold off on impulsive legislation in favor of working with the bitcoin community to find the best resolutions to prevent money laundering and fraud without stifling innovation.

3. VC firms keep betting big

Not everybody is as slow as governments to embrace bitcoin.
Serious venture capital investments in bitcoin companies were already taking place in 2013, but VCs have certainly kicked it up this year, with a total of $150m having already been invested in 2014.
With 2014′s Q2 VC investments reaching $73m (up from $57m in Q1), CoinDesk estimates that by the year’s end, 2014 VC investments in bitcoin companies will have surpassed 1995 VC investments in Internet companies:
Bitcoin VC Investment Compared to the Early Internet
State of Bitcoin Q2 2014
The venture capital flowing into the bitcoin space supports the industry’s infrastructure both explicitly and implicitly: startups gain access to resources that allow them to build much-needed products and services around the Bitcoin protocol, and the investors’ confidence in the digital currency brings legitimacy to bitcoin’s reputation.

4. Building on the block chain

Most people who take the time to really learn about bitcoin realize that the true genius in Satoshi Nakamoto’s invention is not the coins themselves, but rather the block chain.
The term ‘Bitcoin 2.0′ is often used to describe applications that use the technology of the block chain to address issues like smart contracts and identity verification that were once impossible to solve in a decentralized way on the Internet.
Jeff Garzik, one of the bitcoin protocol’s core developers, described the significance of the block chain beyond the scope of digital currencies:
“As a computer scientist, and in computer science in general, when you talked about building distributed systems, there tended to be a purely theoretical view about how computers would talk to each other, how to keep them coordinated. Satoshi and the blockchain really solved that problem in an elegant and unexpected way.”
Block chain-focused startups like BlockScore and BlockCypher have already secured funding this year from investors. As 2014 rolls on, expect to see new uses of the block chain technology solving problems in a uniquely decentralized manner.

5. New emphasis on transparency

The collapse of Mt. Gox, once the biggest bitcoin exchange in the market, was a wake-up call to many in the community.
The former exchange’s CEO Mark Karpeles was notoriously opaque in the months leading to its bankruptcy, causing confusion among users who held bitcoins on Gox.
Ultimately many people lost BTC through the course of Mt. Gox’s downfall. Outcries from the community started pouring in, demanding other big exchanges prove their solvency with professional audits.
Exchanges like Bitstamp, Kraken and Coinbase all agreed to be audited in the aftermath of Mt. Gox’s liquidation.
The demand for more transparency in the industry doesn’t stop at exchange audits, though. Revered bitcoin evangelist Andreas Antonopoulos recently took to Twitter to announce his departure from the Bitcoin Foundation, citing a lack of transparency as a primary concern:
If the first half of 2014 proves anything, it’s that the technology underlying bitcoin is resilient even under catastrophic circumstances (Mt. Gox), and that the community is willing to rally together in bringing bitcoin to mass adoption.
There’s a reason people call it the “honey badger of money.”

Wednesday, July 2, 2014

US Marshals: One Auction Bidder Claimed All 30,000 Silk Road Bitcoins


| Published on July 1, 2014 at 21:45 BST
The US Marshals Service (USMS) has announced that a single, undisclosed bidder claimed all of the roughly 30,000 bitcoins seized from online black market Silk Road and sold in its recent auction.
The winning bidder outbid all other parties for the 10 auction blocks, according to the USMS. Further, the bitcoins have already been transferred to the winner, according to Blockchain.
The USMS previously said that it would begin notifying bidders as to whether they had secured any of the blocks on 30th June. The auction took place on Friday, 27th June over a 12-hour span.
In a statement, the USMS said:
“The US Marshals Bitcoin auction resulted in one winning bidder. The transfer of the bitcoins to the winner was completed today.”
The auction was structured into 10 blocks, with the first nine consisting of 3,000 BTC and the last one featuring 2,656.51306529 BTC.

Results trickle in

The news follows an earlier announcement from the USMS on 30th June, when the agency said that 45 registered bidders took part in the process. At the time, the federal agency didn’t have a clear number on the final amount of winning bids.
The USMS released the auction date and procedural details last month. At the time, the federal agency outlined how participants could express interest in the roughly $18 million worth of bitcoin.
Since then, a number of key bidders, including SecondMarket founder and CEO Barry Silbert, have outlined their participation in the auction. Silbert later announced via Twitter that his auction syndicate, which consisted of 42 bidders for a total of 186 bids, was outbid on every bitcoin block.
The syndicate formed just part of a broader pool of known or possible bidders, a number of which were inadvertently released by the USMS. Other bidders included Pantera Capital and Bitcoin Shop, both of which have confirmed that they did not enter the winning bid.
Image via Wikipedia

Saturday, June 28, 2014

GBBG Bitbillions Blog A Much Sweeter Deal

sweet-deal height=124                     
A Much Sweeter Deal  If ever there was a time to get excited about your GBBG|bitbillions business, this is it. Things have been developing over the past several weeks that are bound to rock this opportunity wide open. With less than 2,000 Co-Founder positions available, we are getting closer to the launch of the Matrix Stage every day. What we are about to reveal in this post may just start a feeding frenzy and get us there much faster than anticipated.

 To get a better appreciation for what we are about to reveal, we think you should review some very important details of the GBBG|bitbillions opportunity. As you should be fully aware, it is 100% free to participate and earn with our program. Members are not required to spend a single penny at all. Every member earns points for various activities.

 If you are a free member and you view ad pages on GBBG|bitcoinfaucet, you earn points. And, as a free member you also share in the faucet pool along with every other member. We set aside a portion of the advertising revenue generated from GBBG|bitcoinfaucet each month and distribute it equally among all members who gather points. Every single aspect of GBBG|bitcoinfaucet is open, 100%, to free members, with no cost or obligation whatsoever. There is absolutely no upgrade requirement or payment necessary to earn points or share in the faucet pool. The revenue for the pool comes 100% from advertising sales on GBBG|bitcoinfaucet.

 If you are a free member and you watch video ads on GBBG|bitfeud, you earn points. And, as a free member you may also participate in every single flash sale. Each month, we set aside a portion of the advertising revenue generated from GBBG|bitfeud and place it up for grabs in the flash sales. Every single aspect of bitfeud is open, 100%, to free members, with no cost or obligation whatsoever. There is absolutely no upgrade requirement or payment necessary to earn points or participate in the flash sales. The revenue for the flash sales comes 100% from advertising sales on GBBG|bitfeud.

 If you are a free member and you view ad pages on GBBG|iwantacar, you earn points. And, as a free member you also have an equal chance to win a brand new car. Each month, we set aside a portion of the advertising revenue generated from GBBG|iwantacar and place it into a fund. When the fund is large enough, we conduct a drawing for a brand new car. Every single aspect of GBBG|iwantacar is open, 100%, to free members, with no cost or obligation whatsoever. There is absolutely no upgrade requirement or payment necessary to earn points or participate in the new car drawings. The revenue for the new car drawings comes 100% from advertising sales on GBBG|iwantacar.

 If you are a free member and you view ad pages on GBBG|mybitcoinrewards, you earn points. And, as a free member you also have an equal chance to win free bitcoins. Each month, we set aside a portion of the advertising revenue generated from GBBG|mybitcoinrewards and place it into a fund. Each week, we conduct drawings and give away free bitcoins from this fund. Every single aspect of GBBG|mybitcoinrewards is open, 100%, to free members, with no cost or obligation whatsoever. There is absolutely no upgrade requirement or payment necessary to earn points or participate in free bitcoin drawings. The revenue for the bitcoin drawings comes 100% from advertising sales on GBBG|mybitcoinrewards.

 Why are we going through so much trouble to spell all this out? Because we want you to fully understand the fact that participation in every single aspect of GBBG|bitbillions is 100% free. There is no purchase or upgrade necessary to participate in flash sales, to win a car, or to share in our earnings. All you need to do is get points. Points are the key to everything with GBBG|bitbillions.

 As you should be fully aware, we are currently in the Co-Founder Stage of our business plan. During this stage, we are laying the foundation for our long-term business. We are researching and developing our software, establishing server infrastructure, and building out the operational and managerial processes of the business. During this stage we are also establishing lifetime partnerships with our members which we anticipate to be immensely profitable and mutually beneficial.

 The Matrix Stage is the event everyone is working towards. Why? Because in the Matrix Stage, everyone begins to share a greater portion of revenue.
 During the Matrix Stage, GBBG sets aside a portion of the revenue generated from advertising sales on bitcoinfaucet, bitfeud, iwantacar, and mybitcoinrewards and places it into the Matrix Fund. GBBG also sets aside a portion of the revenue generated from Preservation of Wealth and places it into the Matrix Fund. GBBG also sets aside a portion of the revenue generated from GBBG|ware and places it into the Matrix Fund. During the Matrix Stage, a portion of all revenue generated by GBBG is placed into the Matrix Fund each month.

 Every month, GBBG will distribute the money in the Matrix Fund to all members who earned points. Each member will get their fair share of the money based on their share of the total points. It is very important to remember, there is absolutely no upgrade requirement or payment necessary to earn these points or share in the revenue. The revenue in the Matrix Fund comes 100% from advertising sales, co-marketing deals, product sales, software services, and other goods and services GBBG sells directly to clients.

 What we hope you fully understand now is that members are not required to pay for upgrades, pay for products, pay for services, or pay for anything. It is 100% free to join, earn points, and participate in every aspect of GBBG|bitbillions. Just by getting points, you can share in the revenue we generate from other sources. And that is about to be a MUCH SWEETER DEAL!

 Up to this point we have been describing basic aspects of the current GBBG|bitbillions business. We have been defining where the revenue comes from that you are earning. And, we have been making the point loud and clear that it is absolutely FREE to participate and earn. Now, we are going to explain why this is the single greatest time to be excited about your GBBG|bitbillions business ever.

 GBBG|ADVERTISINGNETWORK  In July, GBBG will launch our very own, stand-alone advertising network. We are developing a unique platform where publishers (people with websites) can embed our ad widgets into their sites and earn bitcoins. In addition, members can earn by referring both publishers and advertisers to our network.
 This powerful new source of revenue should produce a massive, growing earning stream from clients entirely independent of our membership.
 Web publishers will have a unique publisher site where they sign in and manage their ad widgets. They can embed video ads, text ads, and banner ads into their sites. Our unique system will award them a point every single time they deliver a view (impression). Publishers will get their fair share of the advertising revenue of the entire network based on their share of the overall points. In addition, they will earn GBBG points and can share in the GBBG Matrix if they desire.

 Advertisers will have a unique advertiser site where they sign in and manage their advertising campaigns. They can place video ads, text ads, and banner ads into the network. Not only will their ads be distributed throughout our entire network of publisher sites, but they will also be distributed throughout the entire GBBG|bitbillions website. Advertisers should get massive exposure; much higher impression levels for a much lower cost than any other network.

 So, how does this incredible platform affect you as a member?

 First, it means MORE MATRIX REVENUE. Yes! More money flowing into the Matrix Pools. Second, it means more referral commissions. You will be paid a nice commission every time an advertiser buys an ad in the network, if you referred the advertiser. In addition, the points generated by a publisher will impact your Matrix Bonus, if you referred the publisher. It is truly a winning situation all the way around for our members.

 PLANS FOR JULY  In July we plan to implement our secondary security system to safeguard your profile email address and payment address. Watch for these security enhancements and be sure to implement them. Once they are live, you will be able to prevent hackers and hijackers from altering your email address and/or payment address. It is our goal to make your GBBG|bitbillions account as safe and secure as possible.
 In July we plan to implement our new publisher platform. Our goal is to fully integrate this new platform with our site and to begin attracting quality publishers. Before we can get advertisers pouring into the network we need to establish a roster of publishers. We will need your help with this. So, keep an eye out for this new platform and the marketing materials for it. Remember, your Matrix earnings will be directly impacted by the points earned by publishers you refer.

 In July we plan to begin rolling out information about the new Dandi project. Our goal was to begin this roll-out in June. However, due to ongoing legal work we have yet to finalize this roll-out. Dandi is a huge, earth-shattering project. Therefore, we must make sure every single “I” is properly dotted and every “t” is properly crossed before we launch. We can tell you that important breakthroughs are happening. We are certain Dandi will be incorporated and launched from a geographic region outside of the USA. It will be based in a location that is very friendly to virtual currency. In addition, there is a slight possibility that people all over the world will be able to participate in the equity of Dandi.

 Depending upon the success of the roll-out of our new publisher platform, we may be able to roll-out the new advertiser platform in July. As you surely must understand, we must first gather a large base of publishers before we can successfully implement the advertiser platform. Our goal is to get the entire stand-alone advertising network rolling as quick and smooth as possible.

 SUMMARY  It is 100% free to participate in every single aspect of GBBG|bitbillions. All you need to do is join and earn points. The rest is taken care of automatically. If you want to exponentially expand your earnings, you should actively refer other members. When the new advertising network is launched, you can further exponentially expand your earnings by referring publishers and advertisers.

 Things are developing every day at GBBG headquarters. We are a growing, profitable business. We are generating increasing revenues through advertising sales, Preservation of Wealth commissions, software development services, and other activities. We are working diligently on the launch of Dandi, which we know will be a global game-changer. In addition, we now have an up and coming global advertising platform that is sure to bring revenue pouring in. How much of it do you plan to get?
 
  • bitadmin
  • June 28th, 2014

Tuesday, June 17, 2014

Winklevoss Price Ticker Makes Debut on Bloomberg


| Published on June 17, 2014 at 11:05 BST | Companies, News, Technology
The Winklevoss’ bitcoin price index, the ‘WinkDex’, has made its first appearance on Bloomberg. Listed on the platform under WINKBTCO, the move is an important step for the young index, launched earlier this year.
winkdex
In a brief blog post the team say they are honoured to be working with Bloomberg to bring a “blended bitcoin price index” to the wider investor community. In addition, the WinkDex is about to get a number of new features over the next few weeks, including an API.
WinkDex was launched in February and it is just one bitcoin related initiative headed by Tyler and Cameron Winklevoss. The twins are working towards the launch of their Winklevoss Bitcoin Trust, a bitcoin exchange-traded fund (ETF). The idea was floated last year and the ETF is currently awaiting regulatory approval.

The WinkDex can be viewed as a component of the Winklevoss’ ETF push. It was announced in one of the ETF regulatory filings and described as a method of establishing an accurate spot price that eliminates price confusion and reflects the true value of bitcoin.

The Winklevoss brothers claimed to hold 1% of all bitcoins when their initial ETF document was submitted last July.

Bloomberg and bitcoin

Bloomberg started experimenting with a bitcoin price ticker last year. The platform has since integrated bitcoin pricing (from exchanges Coinbase and Kraken) alongside news on its Bloomberg Professional service.
The service has more than 300,000 subscribers, mainly financial professionals, who pay upwards of $20,000 each year to use it.
These users now have the ability to track bitcoin prices along with relevant news and social media posts. However, Bloomberg has reiterated that the decision is not an endorsement of bitcoin, emphasising that investors cannot yet trade the cryptocurrency on its platform.