Armory Technologies to Match up to 10 BTC for #TeamHal via Simulfunding Matching Fund

Bitcoin Foundation Deems Latest NYDFS Letter ‘Disappointing’

The Bitcoin Foundation is reporting that certain information it requested from the New York Department of Financial Services (NYDFS) under the Freedom of Information Law will not be delivered as soon as originally suggested.

The latest correspondence stated the foundation would now receive information about the BitLicense’s deliberation process within 120 days. The organisation had originally hoped to receive a response within 20 days of its filing.

A post penned by Jim Harper, the Bitcoin Foundation‘s global policy counsel, outlined what the organisation had hoped to achieve with its original filing, before revealing the updated timeline provided by the NYDFS.

Harper expressed dismay at what he believes is a delay, writing:

“That’s in December, well after comments will close, even with the welcome extension that the NYDFS recently issued.”

The Bitcoin Foundation had previously requested evidence as to the “extensive research and analysis” the NYDFS conducted to determine that new regulations are needed for bitcoin businesses.

In particular, the group sought to learn about the risk management and cost-benefit analysis conducted by the NYDFS before it issued its BitLicense proposal.

Advocating for open regulation

In his remarks, Harper stressed this research and analysis would be beneficial to the broader bitcoin community as it seeks to comment constructively on the NYDFS proposal.

Harper wrote:

“Open government laws could really produce their fullest public interest benefits if the community could access this information.”

He went on to suggest that the community’s technical knowledge, coupled with the regulators’ expertise, would provide fuel for policies that promote growth while implementing sufficient consumer safeguards.

Such an approach was most recently proposed by Xapo CEO Wences Casares in a blog post commenting on the NYDFS proposal. Casares even offered the services of his legal and compliance teams to the NYDFS in the hopes of helping to shape the regulation collaboratively.

Finding a silver lining

While Harper was disappointed by the turn of events, he suggested that the agency’s latest letter provides “tacit confirmation” that the NYDFS conducted an analysis before issuing the regulatory proposal.

Harper theorized that the NYDFS would have likely informed the Bitcoin Foundation that such analysis did not exist in the letter, if that were the case.

He concluded:

“That good news makes me all the hungrier to get the information.”

Source : http://www.coindesk.com

Satoshi Nakamoto’s Email Hacker Allegedly in Talks With Bitcoin Creator

The story of the hacker who claims to have compromised an email account belonging to Satoshi Nakamoto just got a little stranger.

News that Nakamoto’s original accounts on GMX.com were compromised ignited community interest in both the identity and whereabouts of the bitcoin creator this weekend. It was then that an email sent to a Bitcoin Talk administrator indicated that an unidentified party had taken over the accounts and threatened to release sensitive information.

There now appears to be at least two individuals in control of the email account – one of which may be Nakamoto, VICE reported today. According to information provided by one of the people involved in the situation, both parties, including Nakamoto, are engaged in ongoing negotiations.

The publication was contacted by two separate persons, one of whom claimed that he had infiltrated the account for fun. This individual said that previous statements regarding how the bitcoin creator’s identity would be publicly revealed were false. After communication between the individual and VICE ended, the publication received additional information that suggested multiple parties were using the email.

VICE continued:

“After our conversation petered off with the first individual who had access to Nakamoto’s account, Motherboard was quickly contacted again from Nakamoto’s old email account […] This person told us that the first individual we were speaking to was in fact Satoshi Nakamoto.”

Hacker motives revealed

The second individual, who during conversation with VICE went by the online alias Degavas1337, said that the email account’s contents had enabled him to establish Nakamoto’s true identity and make contact.

The person also shed light onto the motives behind the attack, with the hacker explaining that he or she was motivated by both personal amusement and a desire to make bitcoins.

VICE Canada managing editor Patrick McGuire wrote:

“When I asked why Degavas1337 was targeting Nakamoto, he told me ‘Because I can.’ After inquiring what he was trying to get out of all this, he said ‘Bitcoins, obviously… [But] don’t forget the lulz.’ [...] When I asked if he was currently blackmailing Nakamoto, he refused to answer.”

The hacker added that, for now, the information about Nakamoto’s identity will remain private. He or she said that they had originally planned to steal the stash of bitcoins owned by Nakamoto, but opted to use any information against the bitcoin creator for personal gain instead.

Source : http://www.coindesk.com

MergerTech Accepts Bitcoin For Startup Sales Services

MergerTech has announced that it will now accept bitcoin as payment for its merger and acquisition (M&A) advisory services.

The California-based company has a history of working to help tech companies with less than $100m in revenue achieve successful exits. For example, MergerTech brokered mobile banking startup Simple’s $117m sale to megabank BBVA earlier this year.

Speaking to CoinDesk, MergerTech founder and CEO Nitin Khanna framed the company’s decision to accept bitcoin as a way his team could learn more about the bitcoin ecosystem while gaining new clients seeking M&A deals.

Khanna told CoinDesk that he believes the time is now for MergerTech to move aggressively to court bitcoin businesses, saying:

“Companies that are innovating in bitcoin today will start getting bought by the Googles, the Microsofts and the Oracles. That’s where we come in. We really understand the system where small companies get bought by larger companies, so we want to be ready in six, nine or 12 months to represent them.”

Khanna went on to say that he believes the M&A market for bitcoin companies will grow to rival the now bustling mobile payments and cloud computing spaces.

“We don’t feel bitcoin is any different,” he added. “It’s a massive innovation, it’s getting funded, and for some of the companies, their exit will be through M&A.”

Service overview

MergerTech indicated that it will accept bitcoin privately, not through any merchant processor. Rather, when a MergerTech client wants to make a payment in bitcoin, it will set up an account with the customer’s desired bitcoin service to receive the funds.

The firm will accept bitcoin for both the commitment fees it receives at the start of the project, and the success fees it earns when the project ends. Commitment fees, Khanna said, generally cost between $25,000 and $50,000, while success fees range from an average of $1m to as much as $5m.

Khanna said:

“We’ll be opening it up where clients can pay either of those two fees in bitcoin.”

As part of the service, MergerTech will help its clients understand the potential sales opportunities they may be able to pursue and how much they might generate in a sale.

Enterprise innovation

While receiving payments in bitcoin is a short-term goal for MergerTech, Khanna explained that, as an entrepreneur, he is also interested in using bitcoin for enterprise payments.

Khanna, who owns bitcoins personally, suggested that the bitcoin community would be wise to build solutions for larger businesses like his own, companies that must process thousands of dollars in payment every time a transaction occurs.

He suggested that there is no enterprise solution that can help a company like MergerTech convert the bitcoin it receives, while paying employees, banking partners and vendors with a share of the fee. As such, he hopes MergerTech can help make entrepreneurs aware of this pain point.

“If we don’t start accepting bitcoin for larger payments, I don’t think innovation in the enterprise space keeps up with the end consumer, small consumer payments,” Khanna said.

Block chain and beyond

Khanna is also interested in advanced block chain applications given his past experiences as the chairman and CEO of Saber Corp, a software company that assisted governments with election management, motor vehicle management and voter registration, among other tasks.

Founded in 1997, the company was purchased by Electronic Data Systems Corp for $420m in an all-cash sale. Khanna co-founded the company with his brother and COO Karan Khanna.

His comments suggested that Khanna may be considering the potential uses of the block chain for his own initiatives, however, he stopped short of such a declaration.

Khanna said:

“We’re super excited about, not just the payments industry, but what the block chain can do for things like elections. Bitcoin starts as a currency but will spread across all kinds of startups.”

Source : http://www.coindesk.com

API Developer Gem Aims to Streamline Bitcoin App Development

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Bitcoin startup Gem has launched a private beta of what it says is a highly scalable and security-focused API for bitcoin app developers.

The Gem API was designed from the ground up to streamline app development while delivering enhanced levels of security by encrypting and backing up bitcoin storage and building in technologies such as multi-signature authentication.

The platform was showcased and launched at the ongoing TechCrunch Disrupt San Francisco.

Encrypted data

Gem chief executive Micah Winkelspecht said the platform offers an extra layer of security compared to competing solutions.

Gem does not hold actual bitcoins. Instead, it stores encrypted files that can only be accessed using a private key (or multiple keys in a multi-signature setup), creating a framework that the startup states is capable of eliminating single points of failure. Should a hacker gain access to the servers, they would gain nothing without the private keys.

Developers opting to use the Gem API would not need to store bitcoins on their own hardware. Instead, they could simply hand out keys to their users, removing the need to maintain – and secure – a centralized storage server.

Battlefield showdown

The API also lowers the threshold for bitcoin developers who choose to use the API, as they can build apps without having deal with complex technical aspects themselves.

“Right now, if you want to build a bitcoin app, you have to be an expert in cryptography and security. We give you a very consumable platform and a client library,” Winkelspecht told TechCrunch.

Gem claims the API can be used to build digital currency apps in a matter of minutes, with a few lines of code, thus allowing developers to focus more time on the app itself rather than the underlying infrastructure.

Winkelspecht and his team demonstrated the API at the TechCrunch Battlefield competition, developing “one of the best” Android wallets on the market in a matter of weeks, he said.

Free version likely

Regarding pricing, Winkelspecht said the company has not finalized its strategy yet, but that a free version of the API will be available for small developers. Big bitcoin companies will have to pay for the service and pricing will depend on the level of usage.

Gem is based in California and managed to secure $2m in a seed funding round earlier this year. The firm indicated it is already in talks with third-party developers about its API and plans to become an all-in-one platform for bitcoin apps.

Source : http://www.coindesk.com

Bitcoin Community Reacts to Apple’s Mobile Payments Play

Update (10th September 3:10 BST): Updated with additional comment from bitcoin community.

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Apple has unveiled Apple Pay, a new mobile payments tool that could significantly impact the way consumers transact both in-person and digitally.

The new service was outlined as part of a broader demonstration of the iPhone 6 and iPhone 6 Plus, both of which were introduced at Apple’s event in Cupertino, California, on 9th September.

Apple Pay is integrated with existing infrastructure, including Secure Element and Touch ID, while the iPhone 6 introduces near-field communication (NFC) functionality, enabling tap-and-go payments for users of the device.

Additionally, Apple has partnered with a cluster of well-known businesses to deploy the infrastructure for the payments feature, which includes McDonald’s, Whole Foods and Disney.

Reimagining traditional payments

When launched, Apple Pay will build a bridge between the company’s consumer technology and the traditional payments network.

VISA, American Express and MasterCard, the world’s biggest credit card service providers, have signed up, and the ‘Big Six’ American – Citi, Bank of America, Capital One, Wells Fargo, Chase and Barclays, among others – are also onboard.

As CEO Cook explained, Apple is seeking to invigorate what is essentially decades-old technology through the use of Apple Pay.

He said:

“We’ve placed a lot of energy into creating an entirely new payments solution.”

Security upgrades introduced

The inner workings of Apple Pay represent a departure from most mobile wallets and payment services. The card numbers are not shared with the merchant, nor does Apple keep track of the numbers of user transactions.

If the phone is lost, Apple Pay functionality can be suspended using the Find My iPhone service. Since the phone does not contain credit card data, there is no need to cancel credit cards in case of loss.

To make this possible, the service relies on a one-time payment number and a dynamic security code, but there is still not a lot of information on either.

Still, this seems to confirm reports of tokenization in Apple Pay. As Bank Innovation points out, Apple is using tokenization and NFC to modernize an old infrastructure and open up new long-term possibilities.

Impact on bitcoin unclear

However, the question remains: What impact will the announcement have on bitcoin and digital currency?

Apple’s presentation didn’t contain any new information related to bitcoin, a subject the company has been silent on since it lifted its ban on bitcoin apps in June.

However, Apple CEO Tim Cook noted during his presentation that the developer API for Apple Pay would be released, an announcement that presents a potential avenue for developers to create bitcoin-centric apps using the tool.

Although the gadget-centric tech press likes to focus on physical products, Apple’s new mobile payments service is just as interesting, albeit from a different angle. What sets Apple Pay apart from the competition is the scale and comprehensiveness of Apple’s operation.

Bitcoin community reacts

The Apple event drew broad interest from around the technology industry, as well as fans of the Cupertino-based company’s products and services. The iPhone 6 launch also proved to be a popular event, even temporarily overloading the event’s official livestream.

Members of the bitcoin community weighed in on the developments on Twitter, contributing responses that ranged from the humorous to the critical. In some cases, commentators compared Apple Pay unfavorably to bitcoin.

As noted by bitcoin core developer Oleg Andreev:

Andreas Antonopoulos, bitcoin entrepreneur and lecturer, commented on Twitter that Apple’s NFC push will put that technology in the hands of more users. Yet in the end, bitcoin will be the better option.

Business leaders weigh in

Reactions from the bitcoin business community followed a similar tract.

Coinsetter CEO Jaron Lukasiewicz said that Apple’s move is good for next-generation payments, as it will bring attention to issues common to traditional payments.

Still, Lukasiewicz said the bitcoin community shouldn’t worry about Apple’s latest launch:

“Apple Pay is still built on top of the same old credit card payment networks and banking system. Bitcoin is therefore well-positioned to enhance Apple Pay over the long run through its integration behind the scenes, providing merchants lower costs and instant access to their funds.”

Jeremy Allaire, CEO of Circle, further asserted that Apple Pay won’t be able to compete with bitcoin long term, citing issues with legacy payment structures.

Allaire told CoinDesk:

“As many in the Bitcoin community have already noted, while this is an improvement in user convenience and security, it’s still ultimately built on the ‘old rails’ of the card networks and the existing bank interchange fee structure.”

New advancements possible

Others in the bitcoin community were quick to seize on this line of thinking, pointing out the mainstream services that now support both Apple Pay and bitcoin.

Noted bitcoin investor Barry Silbert tweeted his observation that online commerce giant Stripe will support both methods of payment, which could spur new development opportunities for bitcoin.

Similarly, mobile payments platform provider Braintree, which yesterday announced it would soon enable bitcoin payments through a partnership with Coinbase, was quick to inform its community about potential support for Apple Pay.

Allaire ended his statements to CoinDesk by suggesting Apple Pay would pave the way for new opportunities for bitcoin developers due to its inclusion of NFC support for iOS devices.

Allaire concluded:

“It will be exciting to see how the industry rallies around these new facilities for touchless mobile payments using digital currency.”

Source : http://www.coindesk.com

UK’s First Bitcoin Festival BlockStock Starts On Friday 12th September

 

BlockStock, the UK’s first Bitcoin festival, starts on Friday 12^th September, in Shoreditch, to raise awareness of bitcoin as a digital currency. The ten-day festival is a celebration of Bitcoin as well as a series of events, activities, special offers, seminars and exhibitions interconnected with everyday high street businesses such as shops, pubs, bars, restaurants and cafes.

Created by two Bitcoin enthusiasts and supported by the London Borough of Hackney, BlockStock takes place in the heart of Tech City, Europe’s largest tech hub. Bitcoiners and those interested in Bitcoin will be able to purchase tickets to gigs and comedy shows, dine out, buy coffee, book yoga classes, attend creative workshops and a whole manner of ‘everyday’ things with the digital currency during BlockStock.

Bitcoin accepting businesses for the BlockStock festival include The Brew co-working spaces that has five locations in Shoreditch; Gallery and restaurant, The Proud Archivist; bar and live music venue Zigfrid von Underbelly on Hoxton Square; The Dictionary Hostel on Kingsland Road, and more.

198 businesses accept Bitcoin in the UK, though the majority of these are based online. BlockStock has been encouraging ‘real world’ businesses to accept Bitcoin and to benefit from the digital currency’s zero/low transaction fees, it’s risk free environment (i.e. chargebacks are not possible), and uplift of sales from Bitcoiners looking to spend their Bitcoin.

BlockStock co-Founder, Justina Cruickshank said:

“BlockStock is about showcasing how normal Bitcoin is. Hopefully, we’ll see more people reading about Bitcoin, exploring its features, and buying the digital currency as a result of the festival. Because as a technology, Bitcoin is incredibly useful and has vast potential for a variety of political, social and economic reasons. So, we’d also like to see participating businesses continue to accept Bitcoin after the festival as it’ll help encourage more of the public to take the very simple and easy step to being part of the future of money.”

Source : http://www.cryptocoinsnews.com

Armory Technologies to Match up to 10 BTC for #TeamHal via Simulfunding Matching Fund

To honor the memory of Hal Finney, Armory Technologies, Inc. (ATI) is joining #TeamHal by extending our simulfunding donation drive and including an extra 10 BTC to go towards the Hal Finney Bitcoin Fund for ALS Research created by Erik Voorhees, Jason King, Roger Ver, BitPay, and the Bitcoin Foundation.

The simulfunding interface enables users to create and execute a very simple Bitcoin contract: “if you donate X BTC to this organization, we will too.” The Bitcoin network enforces this agreement removing the need for the two parties to trust each other. Neither party ever has exclusive access to the funds. The latest release of Armory unlocks this feature of the Bitcoin network and we are using it to donate to the Hal Finney Bitcoin Fund. Anyone using the latest version of Armory can donate to the ALS fund knowing that their donation is valid only if ATI donates the same amount. To have your donation matched, please email donationmatch@bitcoinarmory.com, and see our tutorial for using the new “simulfunding” features that make this possible. *Please note, we will match your ALS donation, regardless of whether you use Armory’s secure simulfunding feature.

We have already matched and donated 0.10 BTC to the Hal Finney Bitcoin Fund for ALS Research. We are asking our supporters and others in the community to continue donating toward this cause in memory of a great Bitcoin pioneer, Hal Finney.

Hal had a profound impact in the world of internet security, cryptography, and Bitcoin itself.  He was one of the lead developers of PGP, which Armory Technologies uses every day to secure all communications and software releases.  He was also the earliest adopter of Bitcoin, being the first person to ever receive a Bitcoin payment, from Satoshi Nakamoto himself.  He not only contributed to the technical and social development of Bitcoin, but was extremely pragmatic about Bitcoin’s future and its challenges, and sought to craft the best Bitcoin security practices.  He was a true crypto pioneer whose ideals were completely in line with Armory’s and we’re happy to do anything we can to support ALS research.  Maybe one day we will find a way to reverse ALS, and Hal Finney can be brought back from cold storage and contribute once again to this ecosystem he helped build.
About: Armory Technologies, Inc. is the open source company responsible for the development of Armory, the advanced bitcoin wallet management toolset. ATI is focused on providing secure solutions to Enterprise and business users, as well as the Bitcoin community.

Source : https://bitcoinfoundation.org

Michigan Farm Helps to Grow the Bitcoin Economy

Michigan, Ann Arbor – Arbor Hills Farm is an organic farm that grows fruit, vegetables and cultivates livestock. It leases land from a major property developer, Tilian Farm Development Center.Their produce is then sold to members of the local community via a system called, Community Supported Agriculture (CSA).

However this farm is quite extraordinary, and what makes it so is the fact that the use of bitcoins is involved, therefore helping to grow the bitcoin economy. They lease out land and provide produce in return for bitcoins. This is all done though the company website,Bitcointegration.

Katie Shafer runs Arbor Hills Farm together with Dan Till. She is a yoga instructor and farmer and together they currently run their bitcoin business found at bitcointegration.com. Dan had studied Chinese and economics at University of Michigan.

Arbor Hills Farm is currently raising funds in bitcoins for the Tilian Farm Development Center who help new farmers to become more established and to also help them in the use of new technology and equipment. One example, being that of llama farming, so that the farm can help in creating alpaca goods and produce for the local community. What is most important though is that these new local farming start-ups are all facilitated by the bitcoin economy.

At Arbor Hills Farm, the chickens get fresh water and food, including lots of fresh fruit and vegetables, throughout the day. On top of this fantastic lifestyle, the yoga studio where Katie teaches also plans to accept the use of bitcoins as payment. People attending the class are also usually members of the CSA so can pay for their local produce also with bitcoins, therefore once again, contributing to the bitcoin economy.

The transaction that takes place is that the bitcoins used to purchase goods at Arbor Hills Farm will be directed to Tilian Farm Development Center for payment. What this ultimately does is to create a small bitcoin economy from the farm and another from the yoga studio, therefore feeding into each other to increase bitcoin profits.

The farm is still in its early stages but there are lots of plans ahead, including the buying of more livestock. What they have shown though, is the way in which cryptocurrency can ultimately transform the traditional farming economy. These farms built on a micro bitcoin economy can ultimately show business how they can grow larger bitcoin economies, to help support the local and wider community.

Source : http://www.livebitcoinnews.com

Hacker breaks into Bitcoin founder’s email account and promises to “expose” him

Wired magazine reported on Tuesday that the personal e-mail account belonging to the elusive Bitcoin founder, Satoshi Nakamoto, had been hacked. The hacker, who said his name is “Jeffrey,” said he has sensitive information that could reveal Nakamoto’s identity and, for a price, would release documents. He asked for 25 bitcoins (BTC)—worth roughly $12,000—to be sent to a specific BTC address.

So far, the hacker is nowhere near that goal.

To prove that he had indeed taken over the account, reportedly associated with a .GMX email address, the hacker issued a direct warning to Nakamoto on the P2P Foundation’s Bitcoin forum:

“Dear Satoshi. Your dox, passwords and IP addresses are being sold on the darknet. Apparently you didn’t configure Tor properly and your IP leaked when you used your email account sometime in 2010. You are not safe. You need to get out of where you are as soon as possible before these people harm you. Thank you for inventing Bitcoin.”

If he has indeed broken into the account, it is unlikely he will actually be able to penetrate Bitcoin’s secure network. Bitcoin, the world’s largest digital currency, relies on powerful computers and sophisticated cryptography to stay secure, and it’s de-centralized nature makes it difficult to track.

Nakamoto’s true identity has never been revealed since he created Bitcoin in 2009. Newsweek claimed they tracked him down earlier this year but that report was later debunked.

Source : http://qz.com

Bitcoin Mining Company BitCrane Still Believes in Home Mining – Supports the Idea of Decentralization

T-110S

When BitCrane came into the Bitcoin mining scene with the Bitcoin miner T-110, it surprised many in the mining world. They use the UltraHoist Module (Golden Nonce) chips with an innovative self contained water cooling system along with an easily stack-able design and a slick interface that is easy to use and set up. Running at 1.1 th/s to 1.2 th/s on 1100 watts, the T-110 is an excellent entrant into the mining industry. CCN was able to setup an interview with the Founder and CEO of BitCrane: James Tsuei.

Could you tell us about BitCrane and how it came together?

I first got to really know about Bitcoin fairly late (around Feb this year) and became a believer almost immediately after gaining a better understanding about its disruptive and revolutionary nature, then spent two weeks of non-stop research learning about the technology and its ecosystem. Being in the electronics industry (from Industrial PC to EMS to Consumer Electronics) throughout all my professional life, I was amazed at where the bitcoin mining hardware business was at in terms of challenges with delivering quality products to market in scale and not to mention poor sales practices. So I wanted to build a team that would be able to design and manufacture reliable, high-quality ASIC systems in a time to market and time to volume fashion with the goal of bringing first-class business practices to the mining community.

BitCrane flew under the radar and burst on the mining hardware scene all at once, how long have your miners been in development and how has the mining community responded to your sale?

One of the reasons for being almost completely unknown prior to our product launch is because we wanted to keep true to our principle of not preselling, and we did little to no marketing prior to the launch. We started to design and develop our system in May and had our pilot run in late June (time to market and being to work quick and efficiently is one of our team’s key competences). One of the biggest challenges we had in addition to making sure we had a well-designed and reliable product, was securing the supply chain for our builds and manufacturing supply base in such a short period. Many long lead time components on our UltraHoist Modules are 8~12 weeks out, and it is our policy that only qualified components from manufacture authorized dealers are used.
The initial response has been lukewarm which is somewhat anticipated given that we are a new player on the scene, and our pricing is higher than the low-cost boxes. However, we are continuously improving our cost structure while insuring the quality our products and reflect the cost improvements on the product price. We’re confident that once miners get a chance to evaluate our product they will see the difference in both the design and build quality. Also that having a trouble free mining system at a slightly higher price tag will pay its own way.

The BitCrane T-110 uses the Golden Nonce chips that have not been widely used at the end user level. The performance is very good. What kind of trouble did you have in securing the chips and do you have a steady supply lined up?

We secured our chip source quite early and budgeted against our initial build plan and forecasts. We are also looking at other potential partners on a next gen chip for product development, but nothing has been finalized yet.

The T-110 uses a self contained water cooling system. What made you decide to go that route for cooling? What were the challenges in designing it to handle the constant intense heat generated by the Golden Nonce chips?

BitCrane Watercooled

Frankly, we have tested almost a dozen different types of cooling solutions for this ASIC trying to find the best price to performance spot. We’ve even tested almost half a dozen DCLC systems and in the end finalized with the current design. The Golden Nonce chip while able to withstand very high temps (115~120c), is very sensitive to thermal and everything has to be tuned just right for it to run stable. Once you have all the variables right, it will run very consistently and reliably. We developed a specialized production JIG just for the installation of the cooler head to ensure that these are mounted with the same precision and consistency in volume on the production line.

Do you have plans for the next gen BitCrane miner that you could tell CCN about now?

We are working on several projects right now. The most immediate one should be ready for launch on 9/10/2014, which is a Terra Hash level miner designed for the home miner. It will utilize the same desktop form factor of the T-110 which cosmetically, is already one of the most suitable miners available to be placed within the home but with ultra-quiet cooling. In addition, our systems are designed with EMI compliance in mind, so they are more suitable for the home environment compared to open frame type miner designs. I think by bringing a Th/s grade miner to market that is designed for home use should help contribute to the idea of keeping mining decentralized.  It is called the T-110S.

The BitCrane interface is very nice and is simple to use so even customers new to mining can easily use it and get up and running quickly. Could you tell CCN about the process you used to design it?

The thought process was pretty simple. We wanted to design a product that a newbie could easily get setup and running and not have to worry about how it’s doing all the time. We also wanted the system to be designed so that large deployments would need very little man power to install multiple units on a grand scale and not bother with hooking up to multiple controller boards and tons of PCIe cables.

Will BitCrane release the source code to the software as it uses cgminer 4.3.3 as required by the open GPL license?

We use a unmodified version of HashFast’s cgminer 4.3.3, so all of the information is available on GitHub.

Do you have anything to add that CCN may not have touched on yet, or you would like to announce?

(I) Think your questions have been quite thorough.
We are announcing the launch of the T-110S on 9/10/2014 is the same easy to use miner as the T-110 but modified for an in home environment where the ambient is usually lower than a mining facility. The main differences are the T-110S has a slightly lower hash rate of 1Th/s with power consumption roughly around 900W. The low noise rating and Class-B regulatory compliance is what makes the unit especially suitable for the home.

BitCrane Miners For Everyone Big and Small

James gives an insight into how BitCrane was able to bring their miners to market. The announcement of a T-110S with a less noisy setup is a welcome addition to their product line. James has told CCN that BitCrane is hard at work on next gen units and will have some excellent surprises in store very soon. It is great to see a new company come into the Bitcoin miner manufacturing market.

BitCrane, Spondoolies-Tech, Bitmain, ZeusMiner and several others are still working hard to make miners that home users and mid-sized mining farms can utilize to help keep the Bitcoin Blockchain as decentralized as possible. Miners like the BitCrane T-110 and the T-110S can do just that with their smaller carbon and sound footprint, power requirements, and easy stack-ability. A home user can easily setup 3 to 10 of these; the simple plug and play setup will make it a breeze.

CCN will have an exclusive review in the next several days of the T-110S where we will go over the changes and also have more comments from James Tsuei on the T-110S. Stay tuned to CCN and Happy Mining.

Source : http://www.cryptocoinsnews.com