Sam Giambalvo

820 Flips | 2 Magazines | 18 Likes | 2 Following | 5,104 Followers | @samgiambalvo | Student @ Art Center

Bitcoin exchange hit with $61 million theft

Hackers have compromised the Bitcoin exchange Bitfinex, the company announced today, withdrawing roughly $61 million from various consumer accounts. The causes of the breach are still unclear, but the attackers appear to have bypassed Bitfinex’s mandated limits on withdrawals.<p>"The theft is being …

Bitcoin price jumps 21 percent over 4 days, reaching a 21-month high

Bitcoin is back! Or at least, there are positive signs indicating that bitcoin might not be as dead as everybody thought. Bitcoins are now trading at $547.40 on Bitfinex (the largest USD/bitcoin exchange according to Bitcoinity). And it represents a big 21.4 percent price jump over just four …

The price of bitcoin just surged to a 20-month high

Bitcoin is having a great weekend.<p>Since Friday morning, the price of bitcoin has increased 15% and briefly reached $530. That’s the cryptocurrency’s highest price since August 2014, when bitcoin traded around $532. The market value of all bitcoin in circulation crossed $8 billion.<p>There are …

Blockchain open sources Thunder network, paving the way for instant bitcoin transactions

Blockchain, the company behind the world’s most popular bitcoin wallet, has been quietly working on an interesting project called Thunder. The Thunder network is an alternative network of nodes that lets you make off-chain bitcoin payments in seconds and settle back to the bitcoin blockchain every …

The man once thought to be Satoshi Nakamoto is raising money for a bitcoin startup

One of the early pioneers of bitcoin and blockchain is raising money to fund a financial startup based on the virtual currency.<p>Nick Szabo, a cryptographer who worked on an early bitcoin prototype called DigiCash, is in talks to raise $3 million, according to sources and a pitch deck reviewed by …

Banks, tech companies move on from bitcoin to blockchain | Reuters

NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we’ve moved on.<p>A Bitcoin (virtual currency) paper wallet with …

The modern slave trade is highly profitable and growing

For those concerned about the emergence of modern forms of slavery, it is a commonplace that the numbers of adults and children trafficked into sexual or labor exploitation, including domestic servitude, is huge and growing.<p>Compared with the 200 years of the Transatlantic Slave Trade, during which …

In Brazilian Officials' Taped Conversations, Women Hear Rampant Sexism

In Brazil, wiretaps of senior officials, including the current and former presidents, have set off a political firestorm.<p>The outcry has mainly centered on whether it was legal for a judge to release the recordings last week, and why he did it. President Dilma Rousseff is in the process of being …

Anger as Berlusconi says Rome mayor job not for mothers

A pregnant rightwing politician who is considering launching a bid to be mayor of Rome has been declared unfit for the job by Silvio Berlusconi, Italy’s former prime minister, who said the role was not compatible with motherhood.<p>Berlusconi, the head of the conservative Forza Italia party who was …

Italy

Microsoft dealt a huge blow to Bitcoin with its new policy

<i>Update: As it turns out, the information this article was based on is “inaccurate.” A Microsoft spokesperson shared the following statement with TNW:</i><p>We continue to support Bitcoin for adding money to your Microsoft Account which can be used for purchasing content in the Windows and Xbox stores. We …

Bitcoin Group delays public listing on Australian Stock Exchange

The Bitcoin Group has delayed its public listing on the Australian Stock Exchange in order to provide further information about the currency to the exchange.<p>The company has been seeking to become the second listed bitcoin entity in Australia. But the crypto currency operators have faced a series of …

Cryptocurrency

My Endorsement Of Bernie Sanders

My Dear Friends,<p>When I was a child, they said there was no way this majority-Protestant country of ours would ever elect a Catholic as president. And …

Lead developer quits Bitcoin saying it ‘has failed’

<i>(Reuters, Jemima Kelly)</i> – Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had “failed”.<p>Hearn, one of five senior developers who has …

Bitcoin was the top performing currency in 2015

<i>The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.</i><p>For most investors, the major story of 2015 was the expectation and eventual fulfillment of a rate hike, …

Bitcoin Hits Highest Levels Since Late 2014

After a mostly boring 2015, bitcoin is making waves as the year ends by reaching new price heights.<p>Bitcoin is north of the $400 mark, once again, for the second time since 2014. This time, it has surpassed a prior boomlet, reaching price points not seen since late summer last year.<p>You can mock the …

Bitcoin creator Satoshi Nakamoto denies being Craig Wright (maybe)

Someone claiming to be bitcoin creator Satoshi Nakamoto has denied being the Australian entrepreneur Craig Wright, who was named as man behind the cryptocurrency by Gizmodo and Wired on Tuesday night.<p>In a posting to the bitcoin-dev mailing list with the subject line “Not this again.”, the email’s …

Bitcoin

Who is Bitcoin creator Satoshi Nakamoto? Does it even matter?

Craig Wright, an Australian academic, might be the secret creator of cryptocurrency bitcoin, unmasked by an anonymous hacker after seven years in the shadows. Or he might be the target – maybe even the perpetrator – of one of the most meticulous hoaxes of the internet age.<p>And yet, amazingly, …

Bitcoin

Australian police raid Sydney home of reported bitcoin creator | Reuters

SYDNEY (Reuters) - Australian police raided the Sydney home and office on Wednesday of a man named by Wired magazine as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency, Reuters witnesses said.<p>More than a dozen federal police officers entered …

This Australian businessman either created Bitcoin or a massive hoax

There's a new candidate for the true identity of Satoshi Nakamoto, the pseudonymous founder of Bitcoin. Reporters and Bitcoin aficionados have long looked for Nakamoto, who authored the initial specification for Bitcoin and participated in its early governance before disappearing from the community …

Bought in 2009, currency’s rise in value saw small investment turn into enough to buy an apartment in a wealthy area of Oslo<p>This article was originally published on 29 October 2013. Due to a technical fault, it has been republished here, on a new page.<p>The meteoric rise in bitcoin has meant that …

Bitcoin

A New Service Called CoinCube Can Help Manage Your BTC

In the future, all currencies will be crypto. And you’ll need someone to manage all that crypto cash. That’s what CoinCube is trying to do: a way to manage cryptocurrency investments intelligently.<p>Created by Robert Allen, Eric Kittell, Jibben Nee and Giovanni Meacci, the system is still in its …

Bitcoin is a currency, the EU admits

When it comes to bitcoin, Europe’s highest court and the US’s major tax agency don’t agree on exactly what it is.<p>In a decision last week, Europe’s Court of Justice effectively decided that bitcoin is a currency, and therefore transactions in which bitcoins are exchanged for other currencies are …

Bitcoin

Bitcoin Ponzi scheme operator pleads guilty to securities fraud

He only made out with around $165,000<p>Trendon Shavers pleaded guilty today to operating a Ponzi scheme using the virtual currency bitcoin. The 33-year-old McKinney, Texas native started his own company, Bitcoin Savings & Trust, in 2011 and used it to collect bitcoins from prospective investors over …

Nine massive banks just teamed up to take the technology behind bitcoin mainstream

Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, JPMorgan, State Street, Royal Bank of Scotland, and UBS have all formed a partnership to draw up industry standards and protocols for using the blockchain in banking.<p>The partnership is being led by R3, a startup with offices in New York …

Bitcoin comes to Cuba. Could it help end the country’s crazy two-currency system?

The first reported bitcoin transactions between the US and Cuba mark the latest innovation brought to the island’s complicated economy, as the two countries normalize relations.<p>Fernando Villar, the Cuban-American founder of a group called BitcoinCuba, told Crypto-Currency News that he made the …

Sanders Proposes Public Funding of Elections to Replace ‘Corrupt’ System of ‘Legalized Bribery’

WASHINGTON, Aug. 4 – In a Senate floor speech today, Sen. Bernie Sanders said he will introduce legislation to provide public funding of elections to …

Middle-class

Elizabeth Warren humiliates Senate GOP: “Did you fall down, hit your head, and think you woke up in the 1950s or 1890s?”

<b>Elizabeth Warren (Credit: AP/Charles Dharapak)</b><p>Planned Parenthood vote is “a piece of a deliberate, methodical, orchestrated, right-wing attack on women’s rights”<p>Scott Eric Kaufman<p>August 4, 2015 6:04pm (UTC)<p>Massachusetts Senator Elizabeth Warren was none too pleased with Republican's attempt to …

Winklevoss twins get closer to launching their bitcoin exchange

You may still think of the Winklevoss twins as those guys who claimed to have invented Facebook, but they've just taken a big step toward making their names in the digital currency business. The two have filed a New York trust application necessary for them to launch their Gemini bitcoin exchange. …

Cryptocurrency

America’s nefarious truth: Sandra Bland’s arrest shows a criminal justice system working as planned

<b>Trooper Brian Encinia arrests Sandra Bland in Waller County, Texas, July 10, 2015. (AP/Andy Alfaro)</b><p>As we see nearly every day, our criminal justice system is part of the noxious heritage of white supremacy<p>Elias Isquith<p>July 22, 2015 2:44pm (UTC)<p>Sandra Bland, a 28-year-old African-American civil …

Really, it’s time to shut down the GOP: A deeply unserious party, hijacked by lunatics and Fox News, is driving us all into a ditch

<b>(AP/Reuters/Brendan McDermid/Rebecca Cook/Charles Sykes)</b><p>“News” without truth. A base that celebrates a clown. Tear the party down and start over — for the country’s sake<p>Sean Illing<p>July 21, 2015 6:35pm (UTC)<p>Republicans are finally noticing that Donald Trump is a political liability. In the wake of …