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BitFinex Bitcoin Exchange Experiences Major Margin Limit Accounting Glitch

BitFinex Bitcoin Exchange Experiences Major Margin Limit Accounting Glitch

Starting the evening of Tuesday Feb 5, 2014, the Hong Kong based bitcoin exchange BitFinex experienced a MAJOR Margin Limit Accounting Glitch.

I had about BTC 0.38 in my account (approx $300 USD), and suddenly could trade with a margin of over $130,000!
I was able to make a few small trades before the error was notices, the exchange locked up, and the error was fixed. My outstanding position with over $4000 in ‘overdrawn’ margin was promptly cancelled by morning.

If I ever see this glitch again I will not hesitate to take out a $130,000 position and trade with it.
bitfinex_margin_glitch

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Bitcoin Tops $1,000 Again on Acceptance by Zynga

Bitcoin Tops $1,000 Again on Acceptance by Zynga

The price of Bitcoin surpassed $1,000 again on the Mt.Gox exchange, after Zynga Inc. (ZNGA) said it would start accepting the virtual currency for some of its online social games as the digital money becomes more widely used.

Bitcoins, which exist as software and aren’t controlled by any country or banking authority, surged to about $1,119 on the exchange today, one of several markets where they are traded for dollars, euros and other currencies.

Bitcoins first crossed the $1,000 threshold in late November and reached record at $1,238 on Mt.Gox on Dec. 4, but then plummeted to as low as $640 after China’s largest online market for the virtual currency stopped accepting deposits. The digital currency has rebounded as more merchants accept Bitcoins for everything from Gummi bears to smartphones on the Internet. Zynga is the latest merchant to accept Bitcoins, which can be used to buy virtual items in games.

“Bitcoin has been remarkably resilient in the face of all the bad news out of China,” Nicholas Colas, chief market strategist at ConvergEx Group, wrote in an e-mail. “The strength shows a continued interest, which is a very positive sign.”

Bitcoin Accepted by Zynga
Bitcoin Accepted by Zynga
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China Bans Financial Companies From Bitcoin Transactions

China’s central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.

Bitcoin plunged more than 20 percent to below $1,000 on the BitStamp Internet exchange after the People’s Bank of China said it isn’t a currency with “real meaning” and doesn’t have the same legal status. The public is free to participate in Internet transactions provided they take on the risk themselves, it said.

China Banns Banks from Bitcoin Transactions
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How to Fix the iTunes Restore/Update 3194 error on my iPhone 4 Jailbroken with iOS 6.1.2, Updating to iOS 7.0

Here is how I fixed the iTunes restore/update 3194 error on my iPhone 4 Jailbroken with iOS 6.1.2, updating to iOS 7.0

 

What didn’t work:

-removing all gs.apple.com entries from the Hosts file

-reinstalling iTunes 11.1

-removing all extra USB devices.

 

What DID work:

-going to a FRESH/NEW/DIFFERENT COMPUTER

-installing iTunes 11.1

-Plug in phone, Yes to backup, Yes to update

 

BAM!

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TP-Link TL-WR703n External Antenna Mod

TP-Link TL-WR703n 3G Router External Antenna Mod

Here are some helpful links:

http://blagg.tadkom.net/2012/09/15/better-wr703n-antenna-mod/

http://blagg.tadkom.net/2012/09/01/wr-703n-external-antenna-mod-diy/

http://www.modlog.net/?p=429

Step 1. Drill A Hole

20130816-161529.jpg

 

Step 2. Cut the two Internal Antenna PCB Traces as shown here: http://blagg.tadkom.net/2012/09/01/wr-703n-external-antenna-mod-diy/

I decided to keep the J1 resistor and C114 capacitor as they orignally were after reading some comments suggesting the signal strength would be better leaving them alone.

Step 3. Solder on Antenna Pigtail Cable.  My cable was scavenged from a broken cheapie $5 USB Wifi adapter.  The soldering was hard.  It is just really small down there.  Here is a trick: put a blob of solder on the tip of your hot iron.  Now smear that melted blob OFF onto a dry sponge.  Now you should be able to PICK UP a SMALLER BLOB of solder and place it where you want.

I used tape to hold down the wire.  As you bend the cable, it puts a lot of tension on the two little solder points.  If you do not hold down the wire somehow, your precious little solders will eventually break off.  Since the tape will eventually fail, it would be far better to hold the wire down with a blob of hot glue gun stuff.20130816-161545.jpg

 

Step 4. Insulate, Assemble and Test.  Make sure you insulate the two little R82 resistors under the antenna fitting metal.  You do not want to short out the circuit board with the metal from the antenna screw fitting inside the case.  A small piece of sturdy electrical tape under the brass nut should cover and protect R82.20130816-161559.jpg

Finished!20130816-164449.jpg

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Federal Judge Declares Bitcoin a Currency

Federal Judge Declares Bitcoin a Currency
from the i-bet-the-IRS-just-got-excited dept.
tlhIngan writes
An East Texas federal judge has concluded that Bitcoin is a currency that can be regulated under American Law. The conclusion came during the trial of Trendon Shavers, who is accused of running the Bitcoin Savings and Trust (BTCST) as a Ponzi scheme. Shavers had argued that since the transactions were all done in Bitcoins, no money changed hands and thus the SEC has no jurisdiction. The judge found that since Bitcoins may be used to purchase goods and services, and more importantly, can be converted to conventional currencies, it is a form of currency (PDF) and investors wishing to invest in the BTCST provided an investment of money, and thus the SEC may regulate such business.

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Coinlabs Launches Bitcoin Mining Infrastructure Company Alydian

COINLAB ANNOUNCES FIRST INCUBATOR COMPANY

ALYDIAN IS FIRST LARGE-SCALE U.S. BITCOIN MINING COMPANY

August 7, 2013, PORTLAND, OR—CoinLab, the first venture-backed Bitcoin company in the U.S., officially launched its newest portfolio company, Alydian.  Alydian is the first to deliver turnkey at-scale Bitcoin mining solutions to customers.

“We are part of a transformation of Bitcoin mining,” said Hans Olsen, CEO of Alydian.  “Alydian has developed an enterprise-scale Bitcoin mining system over the past year and we are excited to announce our capabilities today. The system, based on our first generation 65 nm custom ASIC technology will enable non-technical customers to participate in terahash and petahash-scale Bitcoin mining without worry or technical expertise.  Alydian will begin at-scale operation and hosting in late August.”

Olsen, an industry semiconductor veteran and former CEO of Pixelworks, joins the CoinLab family, led by CEO, Peter Vessenes.  The two comprise a team of other accomplished and respected tech start-up experts drawn to CoinLab’s newest venture.  Alydian will serve as the first of multiple Bitcoin businesses developed internally at CoinLab.

“I am thrilled to have Hans here leading our newest venture,” said Peter Vessenes, CEO of CoinLab.  “Alydian is unique in the Bitcoin mining industry — it was designed from the beginning to provide turnkey massive scale to customers. We’ve combined proven leadership, visionary strategy and great technologists. It’s going to be a great ride!”

Bitcoin mining turns silicon into money.  Bitcoins are algorithm-based mathematical constructs aggregated into blocks and traded on open global markets.  In order to successfully mine a block, which contains 25 bitcoins, one needs specialized computer setups constantly running the mining algorithm, a protocol designed to protect and secure the Bitcoin network.  Currently, there are roughly 11.5 bitcoins in circulation, 25 more are mined every 10 minutes, and there will be a total of 21 million bitcoins issued.  At time of press, Bitcoin traded around $105.

Alydian’s launch-day pricing was $65,000 per Terahash, a technical unit of capacity for Bitcoin miners. At time of press, each Terahash returned approximately $2,800 per day in earnings.

About Alydian
Alydian is a portfolio company of CoinLab, the first venture-backed Bitcoin company in the U.S. Alydian delivers enterprise-scale turnkey Bitcoin mining installations for qualified customers.

Alydian is hiring in our Portland office: jobs@alydian.co 

About CoinLab
CoinLab, the first venture-funded Bitcoin company, is a Bitcoin business incubator that builds businesses that provide fundamental infrastructure for Bitcoin. Partnerships with top-tier industry executives in the fields of hardware, finance, payments and insurance make CoinLab a global leader in revitalizing existing industries. Join the Bitcoin Revolution.

If you are a veteran executive interested in Bitcoin, we’d love to get to know you. Write us at talent@coinlab.com.