Bitcoin Wallets: What are the differences between them?

Bitcoin, Coin Manual (General), Uncategorized
Satoshi Nakamoto first published their paper on Bitcoin back in 2009, but it didn't reach real mainstream popularity until recently. Only the users who understand the highly technical mechanics of Bitcoin invested their time in the technology during 2009-13 intermission period. In February of 2013 Bitcoin, and soon cryptocurrencies in general, finally entered the public consciousness. Despite being a four year old technology, many of the core features of the Bitcoin protocol were not polished in any capacity, let alone ready for mass public consumption. The Bitcoin wallet is an excellent example of one such component. Since that first popularity explosion, much expertise has gone into designing and refining the Bitcoin wallet. Today we will be taking a look at the differences in functionality of the three types of wallets as well…
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How do you perform arbitrage with Bitcoins?

Bitcoin, Investing, Uncategorized
What is Arbitrage? Put simply, arbitrage is buying something at a low price and selling more or less immediately at a higher price through a different market. There are many kinds of arbitrage, but all of them boil more or less to the same goal: Capitalizing on a price difference for economic gain. Arbitrage is everywhere in our global economy and lots of commercial transactions depend upon it and utilize it. Goods are produced at a reduced cost in one place and are sold at a higher cost someplace else. The important thing is that the differences in price allows us to recoup the costs of the transaction; i.e. packaging, transportation, management, etc. For our discussion we will be referring to the arbitrage between cryptocurrencies between exchanges and other markets. Why does it…
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Bitcoin Wallet: The Grandfather of Android Bitcoin Wallets

Bitcoin, Uncategorized
With Bitcoin and it's fellow cryptocurrencies becoming more mainstream everyday, it is only natural that our digital wallets are accessible on both our desktops and our phones. Here at Coin Manual we are doing our research to find which Android wallets are the best of the best (and which are the worst of the worst). Today we will be looking at the first Bitcoin wallet  created for Android -- aptly name Bitcoin Wallet by Andreas Schildbach.   First Impression Users looking to download this app are greeted on the download by 4.1/5 star rating and over 500 thousand app downloads as well as a recent (September 11, 2014) changelog entry, which means someone has and still is putting a lot of work into this app. Once installed and open, the main interface…
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How will financial firms like JP Morgan soon challenge Bitcoin?

Bitcoin, Coin Manual (General), Uncategorized
Bitcoin has endured many challenges since emerging back in 2009. Still, the currency is more alive than ever with ever-growing adoption between new consumers and merchants alike. It's uniqueness as a (mostly) decentralized currency against all odds has attracted the attention of media all over the world. As the currency populi of the world, are the big financial firms and authorities of the world planning to take on the cryptocurrency, challenge it, or even destroy it? Do financial firms even care about Bitcoin? Yes. Early this year we saw a number of provocative headlines ranging from JP Morgan's potential patents for a digital currency to the Goldman Sachs assessment of Bitcoin. Both have spurred volumes of discussion about the topic, though it all boils down to a single fact: They care.…
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How will the Satoshi Nakamoto Dox affect the market?

Bitcoin, Coin Manual (General), Uncategorized
On September 8, the administrator and owner of Bitcointalk.org, theymos, announced that satoshin@gmx.net "had been compromised." We're still not quite sure what the true extent of the compromise has been and whether one or several hackers have gained access to the account. There are however some important things to say about what affect this will have on the Bitcoin market both in the short term and long term, and what vigilance is necessary for the coming months. What we know so far Theymos received an e-mail from the account once maintained by Satoshi Nakamoto, the pseudonym for the creator(s) of Bitcoin, that more or less sounded nothing like what Nakamoto would say. The e-mail was also the first sent to him in nearly four years, since Nakamoto's departure from the…
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Australian Tax Office (ATO) Releases Draft Ruling and Guidance Paper on Bitcoin

Australia, Bitcoin, Uncategorized
The Australian Tax office (ATO) has released a draft ruling and guidance paper to the Australian public in time for the 2013-2014 end of financial year and is seeking feedback. The ATO Correspondence We Received A copy of the correspondence that we received (a mass mailing) can be found below: From: Bitcoin@ato.gov.au Subject: ATO releases guidance on the taxation treatment of bitcoin [SEC=UNCLASSIFIED] Date: Wed, 20 Aug 2014 04:39:10 +0000 Hello everyone, The ATO has just released the guidance paper on the taxation treatment of bitcoin, and a series of draft public rulings. The guidance paper is a simple explanation of the taxation treatment for most common transactions while the public rulings give more involved legal analysis. We are accepting comment on the public rulings. The guidance paper will be updated,…
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What are colored coins? A quick summary.

Bitcoin, Uncategorized
If you’re familiar with Bitcoin at all, then you know of the technology that is arguably more important than the coin itself, known as the blockchain. Originally used for keeping records of every transaction made, the blockchain also supports protocols that are built on top of it, theoretically allowing anyone to make their own coin. An example of a coin that takes advantage of the blockchain for uses besides transactions is Namecoin. Namecoin uses the blockchain to make a decentralized DNS system, making censorship difficult. Since it's on the Bitcoin blockchain, it would be secured by the biggest hash rate, as well as have similar characteristics such as 10 minutes confirms and low transaction fees. You are still sending Bitcoins after all. What you are doing when making a colored…
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