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BTCS Inc. ("BTCS") is an early mover in the blockchain and digital currency ecosystems and the first "Pure Play" U.S. public company focused on blockchain technologies.

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BTCS Inc. ("BTCS") is an early mover in the blockchain and digital currency ecosystems and the first "Pure Play" U.S. public company focused on blockchain technologies.

The blockchain can record any information in a secure way, and make that information both public and unchangeable - doing this without relying on any central authority.

In The News

BLOCKCHAIN TECHNOLOGY

What is the blockchain? "The blockchain is a distributed public ledger."

"Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole."
Bob Greifeld, CEO of Nasdaq-OMX Stock Market, Inc.

BITCOIN

What is Bitcoin? "Bitcoin is the first decentralized digital currency."

Watch this video to learn more:

The traditional traits of money:

"Bitcoin is exciting because it shows how cheap financial transactions can be."
Bill Gates

The Bitcoin.com Wallet

Available for mobile and desktop

Now live, Satoshi Pulse. A comprehensive, realtime listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.

Latest News

What Happened to Bitcoin?

The Bitcoin Core (BTC) network is in trouble due to high fees and slow transaction times. Bitcoin Cash (BCH) is the upgrade that solves these problems.

Learn more about Bitcoin Cash with our guide

DOWNLOAD A WALLET

Get Started With Bitcoin

Learn About Bitcoin

Bitcoin is changing the way people think about money. Educate yourself about this ground-breaking payment system.

Download a Wallet

Bitcoin is received, stored, and sent using software known as a вЂ˜Bitcoin WalletвЂ™. Download the official Bitcoin.com Wallet for free.

Use Bitcoin

Bitcoin makes it easy to send real money quickly to anywhere in the world! Bitcoin can also be used to make purchases from a variety of online retailers.

Read the Latest

Bitcoin.com offers the latest news, cutting-edge reporting. Also, donвЂ™t miss our Bitcoin guides.

Visit the Forum

Read about community issues. Voice your opinion. Check out the latest Bitcoin trends.

Play Bitcoin Games

Play casino games with free tokens or actual Bitcoin. Bitcoin Games is a provably fair gaming platform.

Start Cloud Mining

Join the most profitable mining pool in the world.

Vote on Bitcoin Issues

Bitcoinocracy is a free and decentralized way to voice your opinion. Signed votes cannot be forged, and are fully auditable by all users.

75 Places to Spend Your Bitcoins

Bitcoins burning a hole in your wallet? We can help.

On Wednesday we announced that over 75,000 Shopify merchants can now start accepting Bitcoin as a form of payment on their stores. Well, it’s safe to say people are excited. In two short days we already have hundreds of stores accepting Bitcoin.

Here are some great places to spend your Bitcoins:

US Search Mobile Web

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Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!

chithidio@Yahoo.com

i dont know what happened but i can not search anything.

Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

Buy gift cards with Bitcoin!

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We are the leading digital gift card platform where you can easily buy, send and redeem gift cards from any device. Use Gyft to also keep track of gift card balances and instantly send friends and family gift cards they’ll love. We love Bitcoin! In fact, we were one of the first places to accept Bitcoin.

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*3 redemptions per household/account. Offer ends on 5/31/2018 or until supplies last. For more information, click here.

The merchants represented are not sponsors of Gyft or otherwise affiliated with Gyft. The logos and other identifying marks attached are trademarks of and owned by each represented company and/or its affiliates. Please visit each company’s website for additional terms and conditions.

Bitcoin Shop CEO: We Plan to Be a Universal Bitcoin Solution

Charles Allen is the CEO of Bitcoin Shop, a publicly traded US bitcoin company that leverages Amazon's affiliate program to sell a wide selection of e-commerce products for bitcoin, litecoin and dogecoin.

Bitcoin Shop is now seeking to expand its industry goals, recently making strategic investments in key partners, including California-based bitcoin buying service expresscoin and digital currency processor GoCoin, with the goal of using e-commerce to build a universal bitcoin company.

Allen recently spoke about his company's ambitions at The North American Bitcoin Conference, held last weekend at Chicago's McCormick Place convention center. CoinDesk sat down with Allen to learn more about his company, the pressures of being public and why he believes Bitcoin Shop is the most misunderstood company in the space.

CoinDesk: You've said that Bitcoin Shop is one of the more misunderstood companies in the bitcoin industry, and that you're not simply an e-commerce play. Can you introduce us to your vision for Bitcoin Shop and its goals?

Charles Allen: Yeah, that's not what we're building. Just to give you an idea where we started, the company was founded by two engineers from NASA in June last year. We launched our initial website in September and basically realized that there are bitcoins, but nowhere to spend them. That's not a business, that's a short-term solution to a problem. No one accepts bitcoins, now there's someone to do it. That's not sustainable. I joined in January and have shifted the direction of the company.

In February, we were a lead investor in GoCoin, and we use them as a payment processor, so we now accept bitcoin, litecoin and dogecoin. We also just invested in expresscoin. What we want to do is use digital currency as an onramp to digital currency adoption, and the first step in that is redoing the website. Everyone was part-time until February and we haven't touched the website since going public.

We need to be able to take bitcoin out of the equation and that e-commerce model needs to be a standalone business.

No one's ever done this before [. ] Conceptually you could shop from all the big-box retailers you trust and we would find you the best price and they would ship it to you.

We believe if we create a solution where we connected to all these people, there's a good reason people should shop on our site as opposed to [just] bitcoin.

Do you see Bitcoin Shop evolving to become more of a traditional e-commerce company, and less focused on bitcoin, over time?

You're still thinking about e-commerce as the core of the business, and it is now, but we want to tie all the other service offerings in. If you think about it, it doesn't make sense to have a wallet that isn't integrated with a payment processor or that isn't integrated with a merchant. It's not all tied together. You need a universal solution, then a customer can have one point of access and do all their transactions.

If you have a wallet, now you have to connect your wallet to your exchange or your payment processor. You have all these different usernames and passwords and logins, and you're building this ecosystem of different providers that you have to manage and deal with.

We believe that we can create a unified solution through partnerships, where you can do everything in one stop, where you can shop and exchange, and you could buy products, you can get bitcoin, collecting all of the pieces, but e-commerce is the onramp.

The nice thing about e-commerce: business models are unproven at bitcoin companies. If you're a wallet, how are you going to make money? Should a wallet be a free service that's offered by a company?

If you start thinking about all these pieces its very difficult to transact and work in bitcoin, because no one has come out with a very elegant solution. Coinbase has done a very good job, and the fact that they have an ACH [Automated Clearing House] relationship, so they can connect to your bank account, is a great lead, but it's not a long-term competitive advantage.

E-commerce is nice because no one is going to complain about us getting affiliate fees from the merchants we purchase from, whereas people may complain about paying for a wallet service, so a lot of the models that are being built are just untested. What is a consumer willing to pay for versus what are they not willing to pay for?

So you see Bitcoin Shop and its partner ecosystem becoming like a Coinbase, Circle-type consumer solution?

Yes, our investing in expresscoin is the step in that direction. They don't have the ACH connection, but they're connected to ATMs, they can wire money in, they have agents. But to be able to seamlessly offer that for our website is where I want to go.

We've raised just under $2m, so we're partnering with other companies in the space that we believe we can connect with to offer a seamless solution over time. Right now the core team is putting the new website out the door and once that's done we're going to work to integrate expresscoin.

Our competitive advantage today is that we're the only public company in this space.

I know you've said that an advantage to investing in Bitcoin Shop is the exposure investors get to companies like expresscoin and GoCoin. Do you see Bitcoin Shop becoming almost like an exchange-traded fund for investors?

I would say it's more like a public private equity fund or like a BT6 [equity fund]. So right now, you're right. For investors in our company, we trade anywhere from $400,000-$500,000 a day in stock. So, if you bought $10,000 worth of stock you could sell that quite easily at current volumes. When you think about for the general public, if you want to be exposed to bitcoin, you can buy bitcoin or you can buy my stock.

If you buy my stock, you get exposed to GoCoin and expresscoin, and we have an option to invest $1m in expresscoin at its current valuation. I'm not looking to be a publically traded fund; the investments I've made to date are strategic because I want to integrate with these companies.

For now, Bitcoin Shop is still an e-commerce company. How affected are you by new merchants that enter the bitcoin ecosystem? Is good merchant news for bitcoin bad for Bitcoin Shop?

I think it's a positive in that the more big merchants come on, the more people want bitcoin. I think most of the merchants coming online are doing it because it's free PR.

Dell accepts bitcoin. I'm sure they'll talk to you or be on Bloomberg. They can be in the media to drive awareness and their customer acquisition [costs] are lower, which is great. The more adoption there is, the more its going to force regulators to make decisions.

Do you feel like Bitcoin Shop will need to rebrand in order to better communicate its goals of becoming a universal bitcoin company?

You'll notice we bought BTCS.com. That's our stock ticker, so there may be a point where we'll think about rebranding when the time is right. Right now, I think it needs to be reflective of the business model we have in place.

This interview has been edited for length.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Bitcoin Shop: The Latest Growth Opportunity In The Cryptocurrency World

As mainstream acceptance of bitcoins as a valid payment method spreads, the process of buying and selling the digital currency has become simpler. A number of platforms now facilitate bitcoin exchange for a variety of fiat currencies and what last year might have been a tedious, complex and risky process is now not so. Two distinct industries stand to benefit from this increased acceptance. The first, the exchanges. The second, bitcoin retailers. As their description suggests, bitcoin retailers allow consumers to buy goods with bitcoins. Bitcoin Shop (TUCND)-or BTCS as of March 5, 2014-the only publicly traded company in this latter industry, will be the focus of this piece.

Why Use Bitcoins?

First, it is important to explain why a consumer might want to use bitcoins to pay for goods when they could just use a credit card. There are a number of well-documented reasons, but here is a quick breakdown. The main reason, and ironically the most controversial, is anonymity. The majority of online purchases are credit card purchases. To conduct a credit card transaction, a consumer needs to divulge information-credit card number, security code, billing address etc.-over the internet. A competent hacker can "steal" this information and use it to filter money from your account. In contrast, a bitcoin transaction requires just two pieces of information. A public key, which is generally the address of a bitcoin wallet and a private key, which only the holder of the bitcoins holds. The next advantage is cost. Retailers have to pay a merchant fee on credit card transactions. In many cases, the retailer will pass this fee onto the consumer. Bitcoin transactions involve none of the administrative costs of credit card transactions and so, in contrast to credit card transactions, bitcoin transaction fees are minimal or non-existent. Finally, bitcoin transactions are much faster than credit card transactions. Online credit card transactions involve three distinct stages: authorization, clearing and settlement. This process requires manual confirmation at each stage, and as a result, can take a number or days. Bitcoin transactions are often instantaneous (if the merchant takes responsibility for the transaction) or take ten minutes (if the merchant requires transaction confirmation).

What is Bitcoin Shop?

Bitcoin Shop is an ecommerce virtual currency ecosystem set up by two former NASA software engineers in June last year. Its platform currently offers 140,000 products across 450 product categories. The company holds no inventory and involves no logistics chain; instead, it leverages the resources of other vendors to retail products. Currently, Bitcoin Shop's only affiliated vendor is Amazon, but the company expects to increase its vendor base during 2014.

Bitcoin Shop has just gone public through a reverse merger with TouchIT Technologies Inc., a company that, prior to the reverse merger, designed, developed and manufactured touch-screen technologies for the education and corporate markets. Having completed the reverse merger, Bitcoin Shop became the first publics traded company to have the term "bitcoin" in its name and, more importantly, one of just a handful of companies that offer investors exposure to the bitcoin retail market; another being Overstock.com (OSTK).

Because the company has only just started trading publicly it is not yet possible to analyze its financial metrics. As an alternative, Bitcoin Shop has released a number of non-financial metrics to support its value proposition. The first relates to products sold. During Q3 2013, the sold 88 items through its platform. During Q4 2013, this grew to 1,266 items, a 1338% increase. This rise coincided with a rise in the Bitcoin Shop's product offering. During the same period, total products offered on the platform rose from 30,000 to 135,000 (now 140,000), a 350% increase.

Perhaps more importantly for a relatively new platform is user growth and traffic metrics. During Q3 2013, Bitcoin Shop.com logged 9,000 unique visits, 11,000 total visits and 46,000 page views. During Q4 2013, this rose to 68,000, 85,000 and 395,000 respectively. During the same period, the platform's total registered users rose from 160 to 750, a 601% increase.

Bitcoin Shop's primary growth target is to diversify its vendor and customer base. Currently the company's only affiliate is Amazon, but its business model makes it highly scalable. The company has stated that it is currently targeting Best Buy, Target Pet Smart, JC Penney and Walmart as potential affiliate sellers. As a secondary, but related, focus is to develop exclusive relationships with sellers.

Bitcoin Shop is also seeking to expand to new geographies, as virtual currency acceptance becomes prevalent. Bitcoin is quickly becoming an established payment method in a number of markets including the U.S, Europe and China, but many emerging markets are yet to adopt the virtual currency as mainstream. As this adoption takes place, Bitcoin Shop expects to duplicate its U.S. operations in those markets.

While the bitcoin industry is a potentially lucrative, growth industry, there is a substantial risk associated with early exposure.

The main risk lies in adoption. Bitcoin use is at an all-time high, both in terms of transaction rates and public awareness, but this does not guarantee future mainstream adoption. There exists a number of regulatory concerns regarding the cryptocurrency; validation of any one of these concerns could stall its adoption. No external body regulates the bitcoin network, meaning the security of an individual's bitcoin holding rests solely with him or herself. A holder that does not fully understand the necessary security measures may be susceptible to theft. High profile theft may discourage the wider retail community from holding and spending bitcoin. Bitcoin Shop's business model amplifies this risk, in that it relies solely on bitcoin transactions taking place.

A company specific risk lies in its financial structure. There are currently just 762,000 Bitcoin Shop shares outstanding and a float of 305,405 following a 1:300 reverse split. Such a low float could make the stock extremely volatile, meaning the holdings of early stage investors could be subject to large, short-term valuation swings.

When Overstock.com started accepting bitcoins as payment, the platform transacted $124,000 of bitcoin payments in 24 hours. This illustrates the willingness of the ecommerce community to adopt the digital currency as a payment method. Bitcoin Shop is one of the only companyies offering consumption related exposure to this willingness, and in turn, the growth potential of this fledgling industry. Investors should exercise caution, as the company's bitcoin-only business model exposes it to any setbacks in the digital currency's growth, but as ever, with this exposure comes large potential gains.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

US Search Mobile Web

Welcome to the Yahoo Search forum! We’d love to hear your ideas on how to improve Yahoo Search.

The Yahoo product feedback forum now requires a valid Yahoo ID and password to participate.

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Improve your services

Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

chithidio@Yahoo.com

i dont know what happened but i can not search anything.

Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

Bitcoin? It's not just online! Britain's first physical shop where virtual currency can be bought opens in London

By Rob Cooper 14:11 BST 19 Feb 2014, updated 14:27 BST 19 Feb 2014

Latest From MailOnline

Shop is the first in Europe where the e-currency can be bought
People hand over money and are issued with a 16-digit code so they can access their digital currency online
Entrepreneur Akin Fernandez claims currency will be used by the world's poorest who don't have bank accounts to pay for goods online in future
Bitcoin value has fluctuated wildly as it is a virtual currency

An entrepreneur has opened the first shop in Europe where Bitcoins can be bought over the counter.

Normally it can take weeks to set-up an account and purchase the digital currency over the internet - but Akin Fernandez simply prints off a voucher so they can be accessed immediately.

The user then enters a 16-digit code and the Bitcoins are transferred to the designated virtual wallet within 70 seconds.

Mr Fernandez, 51, has opened his Azteco shop in Shoreditch, central London, and hopes to set up similar outlets around the world. The entrepreneur likened his vouchers to Pay As You Go top ups for mobile phones.

He said that Bitcoins will one day enable 2.2billion people in the developing world who do not have bank accounts to pay for goods and services over the internet for the first time.

Mr Fernandez, who is a former publisher, charges around one to two per cent commission on each transaction.

As Bitcoin is a virtual currency, its value has fluctuated wildly over the last year and soared as high as $1250 last November but currently stands at $630.

RISE OF DIGITAL CURRENCY BITCOIN

Bitcoin is a distributed peer-to-peer digital currency that functions without any central authority, such as the Bank of England.

The currency was invented by Satoshi Nakamoto in 2009 and is traded within a global network of computers.

Bitcoins can be bought with near anonymity, which supporters say lowers fraud risk and increases privacy.

But critics say that also makes Bitcoins a magnet for drug transactions, money-laundering and other illegal activities.

And it is hitting 'real life', with a cash machine in Vancouver, Canada, and a sushi restaurant in San Francisco dispensing and accepting the currency.

It's value is not determined by any government but instead by a peer-to-peer network of mainly anonymous users. So, like any undefinable commodity, it can plummet suddenly. It hit a high of $1250 to the Bitcoin last November - but is now worth around half that amount.

People can create their own Bitcoins by 'mining' for them. The process involves using computers to solve algorithms so complex that the amount of power they take up limits how much currency can flood the market.

The trade of Bitcoins is not regulated in Britain by the Financial Services Authority - and critics have said that because of its secrecy the virtual currency can be used by criminals to purchase drugs or guns.

The entrepreneur had hoped that people would be able to redeem their voucher immediately in his shop through a Bitcoin wallet app like Blockchain, City AM reported.

However, the apps were recently blocked by Apple - so now people have to use their computer to access one of the e-wallets.

'Bitcoin is hard to understand, but it doesn't have to be. We have boiled it down to its essence so that it is simple, easy to use and works very quickly,' he said.

'With Bitcoin, it is now possible to send a fraction of a Euro or Pound anywhere in the world instantly, to anyone directly, without a bank and with near zero fees.

'Of course, you are not actually sending money with Bitcoin. What you are sending is an entry on the Blockchain global ledger, that has a value because it is scarce.

'Its like a seat on a train. This is entirely different to actual money, even though superficially it acts like it.

'Bitcoin is going to change ecommerce forever. With Bitcoin, everyone in the third world will have access to buying goods on the internet with a fraud proof method of payment.

'This means that every website in the world that sells goods will eventually be accessible to some of the 2.2 billion unbanked people in the world. Making Bitcoin accessible and easy to use is key to making this transformation happen.'

Often, if people from developing nations who do have debit or credit cards find they are rejected by websites based in the West when they pay for goods

As a result, Mr Fernandez is hoping to open Bitcoin shops in Mexico and Sierra Leone.

He said he opened his first shop in London so he can gain access to the best software developers.

Bitcoin Shop, Inc. (BTCS) and Spondoolies-Tech Move Forward with Merger

In an attempt to create one of the world’s first publicly traded bitcoin transaction verification companies, Bitcoin Shop, Inc. (BTCS) and Spondoolies-Tech, Ltd. have announced that they are in the process of merging.

By merging, BTCS, which recently launched its own mining farm, would gain access to the technology of one of the top hardware providers in the ecosystem.

The deal is an all-stock deal that will result in BTCS owning 53 percent of the combined company. This is due to the recent $1.5 million investment in Spondoolies that took place in May, which was a first step in completing the merger. This initial investment by BTCS bought it 6.6 percent equity interest in Spondoolies based on a pre-money valuation of $21.2 million.

When the merger is complete, Charles Allen, the CEO of BTCS, will act as the CEO and chairman of the merged company. Guy Corem, Spondoolies CEO and co-founder, will serve as a board member and executive officer. Yuval Rozen will be BTCS’s CFO.

Combined BTCS Moving Forward

“With the completion of BTCS’s recent investment in Spondoolies, we will begin turn our attention to moving the merger process forward,” Charles Allen said in an interview with Bitcoin Magazine.

And the future of BTCS and Spondoolies post-merger proves to disrupt the mining world.

“The core focus post-merger will be to design, manufacture and deploy servers in BTCS’s data center and expand to other low-cost data centers operated by the company,” Allen explained. “We are still discussing the possibility of selling equipment to certain customers. However, the decision will be based on what is in the best interest of our shareholders.”

Spondoolies launched just a year ago, but it took the mining world by shock with its high-quality chips. The implication would be that BTCS, a bitcoin miner, would also be producing chips to give itself a competitive advantage over other miners rather than being a supplier to other miners.

“During our first year of operation, Spondoolies successfully launched five different hardware products which are widely recognized as the best of their respective categories,” said Guy Corem, CEO of Spondoolies, in a statement. And the numbers support his statements. According to numbers released by Spondoolies — and audited by Deloitte for the planned merger — the company had $28 million in revenue in 2014.

And according to the numbers, that growth seems to be getting even stronger despite where the price of bitcoin has been going for the past year.

“We’ve shipped out more units in December 2014 than we have in April of the same year, which is a strong indicator of our ongoing growth,” Kobi Levin, COO of Spondoolies, said in a statement.

BTCS Farm Well Above Break Even Price

Based on the numbers provided by BTCS, the company still has more room for the price to drop before it reaches its real cost for mining. According to Allen, while the company hasn’t disclosed its exact mining costs because it changes based on the network hashrate, the current hashrate has BTCS’s cost resting between $100-$200/BTC.

At present, the company has 980 TH/s of hashing power that came online toward the end of the first quarter. By merging with Spondoolies, the company looks to ramp up even more hashing power.

But some argue that all of these large operations participating in mining is not the original intent of Bitcoin. Allen addressed that issue in an earlier interview, explaining that the mistake many earlier miners made was that they didn’t takecost structure into consideration.

“A miner running a unit where electricity is expensive will have a much higher cost than a miner running an identical unit in an area with low-cost electricity. This has led to the current consolidation trend in mining into large facilities and away from private or home miners,” he said.

Future Spondoolies Chips

While the combined company doesn’t intend on focusing too much on developing products for the general population, that hasn’t stopped it from coming up with new chips to launch this summer.

“Spondoolies-Tech is hard at work developing a third-generation ASIC,” Guy Corem said in an interview with Bitcoin Magazine. “The new ASIC is aiming for a 4X improvement over the efficiency of the second-generation unit. The new ASIC will allow the merged company to secure a significant percentage of the hash rate.”

According to a statement by the company, this next-generation chip should allow for bitcoin to be mined profitably, even if the bitcoin price was to drop below $100.

Releasing this third-generation chip should definitely allow BTCS the potential to gain a large chunk of market share in the bitcoin mining space, increasing the likelihood that the merger does take place. However, if the merger does break down, BTCS will walk away with a $1 million breakup fee.

четверг, 14 июня 2018 г.

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четверг, 14 июня 2018 г.