CNET Founder Creates New Venture That Addresses Bitcoin Volatility
Halsey Minor, founder of CNET, today announced the launch of a new bitcoin venture called Bitreserve, a platform that aims to provide real-time transparency and address bitcoin volatility, transaction traceability, and proof of solvency. The idea: Allow members of the service to hold bitcoin denominated as real-world currency. "Bitcoin is a remarkable innovation, created and supported by lots of very smart people," said Minor, who also happens to be the second largest shareholder in salesforce.com. "Bitreserve is built on top of the bitcoin network, allowing members to convert bitcoin into....
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A group of Russian hackers that managed to steal CNET's user database has made that information available for bitcoin, in what seems like a publicity stunt. The group, which calls itself 'wOrm', says the database contains the accounts of more than a million users, including their usernames, emails, passwords and other information. The asking price for the source code and the database was 1 BTC, roughly $615 at the time of writing. However, CNET was later told that the group has no plans to decrypt the passwords or to complete the sale of the database. The offer, which was apparently made....
On May 4, The Times of India reported that Halsey Minor, the multi-millionaire entrepreneur and founder/CEO of BitReserve, engaged a meeting with the local regulators for the company's future plans to launch its services there. "After the U. S., U. K. and China, we want to now set up operations in India, and we are talking to regulators and potential partners on a range of our Internet-based finance offerings," Minor told Times of India. The aim of the launch in India is to provide users with "direct control of their money," as Minor plans to offer BitReserve as a "financial inclusion....
In a recent interview with CNET, Netscape founder Marc Andreessen shared his viewpoint on Bitcoin, saying that he wished he invented Bitcoin without hesitation. "When we tried to get investors for Netscape, most of them said 'you're out of your mind," Andreessen said. "This is the thing that's most like that of anything I've seen in the last 20 years." Also read: Coinbase Raises $25 Million From Andreessen Horowitz. According to CNET, Andreessen also said that Bitcoin today is like the Internet was in 1993, when it was slow and difficult to access unless you were a master of computer....
Bitcoin bank Bitreserve, founded by CNET founder Halsey Minor in 2013, shields its customers from the volatility of bitcoin by instantly locking deposits to a fiat currency selected by the customer, for example the US dollar. If you make a deposit in bitcoin to Bitreserve, you don't have to worry about volatility, because your bitcoin can be converted to dollars on-the-fly and appear as dollars in your balance. So Bitreserve users don't lose money if the exchange rate of bitcoin goes down - if they have chosen to convert part of their holdings to, say, $1,000 USD, they will continue to....