Alternate Uses of the Blockchain Using Merged Mining

There are currently several alternate uses of the Bitcoin blockchain. these proposals include using the Blockchain as a notary service (for instance, proof of existence splits a hash into 2 pieces and creates unspendable output. Bitcoin Time Stamp does something similar but transforms the hash into valid transactions). Other proposals such as micropayments and “colored […]

FinCEN Ruling Requested for Bitcoin Mining

Atlantic City Bitcoin has requested an administrative ruling for Bitcoin mining. The US Treasury, Financial Crimes Enforcement Network (FinCEN) issued guidance on virtual currencies a few months ago. FinCEN also recently seized bank accounts of a company owned by Mt. Gox, the largest Bitcoin exchange.

Previously FinCEN responded to e-mail questions with a description of […]