Canadian mining company pays wages in bitcoin and plans new cryptocurrency exchange

[Ares]

Mining company Alix Resources has decided to start paying contractors with bitcoin for services in Canada.

The company plans to pay a contractor called Ridge Resources Ltd in bitcoins for exploratory services.

“The growth of popularity in the bitcoin space as an alternate method of payment has led Alix to step into this very exciting market. This transaction is the first of its kind within the Canadian junior mining sector and positions Alix as a participant at an early stage in the global bitcoin marketplace,” said Alix Resources CEO Michael England.

Canada’s government has taken a wait-and-see approach in regards to regulation of distributed virtual currencies, which is enabling them to flourish in the country.

Interest in bitcoin is currently at an all time high, as the currency’s price has hit record levels – it is now, at the time of writing, $405 per bitcoin.

Ironically enough, the process to create bitcoins is called “mining”. This is a where a distributed network of computers connected to the internet solve mathematical problems known as proof of work to confirm bitcoin network transactions.

Alix Resources, based in Vancouver, British Columbia, is also planning to get into the bitcoin exchange business. The company has entered into an agreement with a private software vendor to license a bitcoin exchange, which will be administered by Alix. The firm’s management anticipates the exchange will launch in early January.

Bitcoin exchanges are marketplaces where investors can buy bitcoins. Bitcoin exchanges have been under heavy scrutiny as of late following a number of problems.

A Czech Republic-based exchange was recently hacked, a Hong Kong-based exchange completely disappeared along with $4.1m and a Dutch exchange was used by identity thieves to launder money.

http://media.coindesk.com/2013/11/bitcoin-charts-image.jpg

Canada, and Vancouver in particular, has seen a high level of interest in virtual currencies such as bitcoin.

Bitcoiniacs, a Vancouver based bitcoin business that operates an in-person storefront exchange for bitcoin has formed a partnership with Robocoin to bring the world’s first bitcoin ATM to a coffee shop in downtown Vancouver.

“In Canada, bitcoin is more of a commodity. The government’s thinking is: Let’s get a good understanding of what’s going on before making any decisions,” Jordan Kelley, the CEO of Robocoin, told CoinDesk at the ATM’s launch last month.

http://www.coindesk.com/canadian-mining-company-pays-wages-bitcoin-plans-new-cryptocurrency-exchange/

[EE_]

A Czech Republic-based exchange was recently hacked, a Hong Kong-based exchange completely disappeared along with $4.1m and a Dutch exchange was used by identity thieves to launder money.


Mr. Ares, do you have the technology to open a trading platform?
I would like to invest in something like that. Soon as we get enough business, we split with the loot.
We could call it Digicoin Secure, or Coin-Safe and throw out all kinds of false promises.
There's no law against it and nothing can be done about it...free money!

Of cource we'll tweet everyone that we're sorry and that we've been hacked...on our way to the airport that's taking us to our new homes in Pago Pago.

http://mstecker.com/images/Polynesia/AmSamoa/i36amsomrmb2.jpg

See more beautiful photos here of our new local http://mstecker.com/pages/amsamoa_fp.htm

[Cebu_4_2]

I'm in!

[mick silver]

i just sold all of my silver an gold to get into bitcoins . i hope this pays off

[EE_]

I'm in!
Cool! I mean why gamble...take the sure thing!
Anyone else in?

[EE_]

i just sold all of my silver an gold to get into bitcoins . i hope this pays off

I did too, but I only put in 100K. This looks like a winner!
We're gonna be rich! Mua ha ha!

[mick silver]

am all in , cashing out of all my silver an gold this afternoon when i hit the big city . dam i need help carry all this crap out of my safe . just if bitcoin would of been around 10 years back i would not have all this crap to carry out

[EE_]

am all in , cashing out of all my silver an gold this afternoon when i hit the big city

If you're that sure, I'm in for another 100K!

[mick silver]

i forgot also heading to the bank to see how much i can take a loan out for on my farm land an homes ....................... all in . with almost 300 ac of land i wonder how much paper money they will loan me ............... ALL IN ARE NOTHING , TO THE MOON

[mick silver]

gold up .......... silver up . it look to me as the prices are going up today as i sale all my dimes

[EE_]

i forgot also heading to the bank to see how much i can take a loan out for on my farm land an homes ....................... all in . with almost 300 ac of land i wonder how much paper money they will loan me ............... ALL IN ARE NOTHING , TO THE MOON
All or nothing...you have the true heart of a gambler and winner sir!
This sure does beat the hell out of working and having to produce anything.
All we have to do is sit on our asses and rake it in...I love it!

[EE_]

gold up .......... silver up . it look to me as the prices are going up today as i sale all my dimes

Perfect time for me to cash in the last of mine. All or nothing hell yeah!

[mick silver]

i will let you guys an gals know how it went today . i have to go milk the f...ing cow before we head out . after today i will hire someone to do the milking for me , i will be buying more land after i turn all my bitcoins into land and i may just buy a few more cows to ............ ALL IN ARE NOTHING ................ TOO THE F...ING MOON ARE NOTHING I SAY

[Ares]

The irony here is completely laughable but not surprising considering the amount of ignorance that is just coming from the posters.

EE

I guess you don't see the comparison to the Comex settling undeliverable contracts with fiat as the same as an exchange going belly up? I take it the irony is lost on you?

Mick

If you're foolish enough to cash out of precious metals to go into Bitcoins you've got more balls than anyone else. But somehow I'm pretty sure it was all said in jest.

WTF to either of you. I'm tired of debating your dumb asses about free market alternatives.

Hope the gold and silver only route works out for ya. Somehow just don't think it will with the amount that is controlled and manipulated. But go ahead, keep bashing alternatives. I'm sure it's going to work out well for you in the long run.

[mick silver]

why are you mad at me ............. you talk me into trading everything i own for bitcoins i thought that was good . ALL IN ARE NOTHING ............ TO THE MOON I SAY

[mick silver]

EE is the house next to your there for sale i maybe looking into buying a home there if so let me know thanks again mick s ............http://mstecker.com/images/Polynesia/AmSamoa/i36amsomrmb2.jpg

[EE_]

EE is the house next to your there for sale i maybe looking into buying a home there if so let me know thanks again mick s ............http://mstecker.com/images/Polynesia/AmSamoa/i36amsomrmb2.jpg

If things go right, we're going to buy the whole island and rename GSUS Island. It looks nice doesn't it.

[mick silver]

yep i could hang out there ... can we call it bitcoin island ... gold an silver is only for the poor now

[EE_]

yep i could hang out there ... it will bitcoin island would it not ... gold an silver is only for the poor now

Gold is for dreamers

What a giant turd
http://img2.moonbuggy.org/imgstore/a-giant-turd.jpg

[EE_]

EE

I guess you don't see the comparison to the Comex settling undeliverable contracts with fiat as the same as an exchange going belly up? I take it the irony is lost on you?



The difference between the comex and a bitcoin exchange is, you and I can't scam the comex.
Bitcoin we can. This is the wild west man, anything goes. No laws, get it?

You shouldn't get upset when people blow off steam. You are up substantially. When I'm making money like that, I could give a fuck what other do, or say. You offered your advice and thanks for that.

[mick silver]

here the one i am buying today ........... BBQCoin http://coinchoose.com/ i hope it works out

[mick silver]

being suspended until issues with the block chain are worked out ? ares what does this mean

[sirgonzo420]

When I first heard about Bitcoin on the original GIM, I thought it was silly too...

... but later, when I read this: http://bitcoin.org/bitcoin.pdf I realized that Bitcoin was quite an innovation, and would likely take the world by storm whether I liked it or not, so I decided to get some bitcoins while it was (is) easy so as to be better able to protect myself and my family in the future.


As an aside, if anyone here has every played the lottery: Bitcoin gives you a chance to redeem yourself to the God of Math. If it is worth it to buy a $5 lottery ticket, then it is many, many times more worth it to buy $5 worth of bitcoin. I'm not a lottery player, but with Bitcoin, with a $5 "investment", the upside potential vastly outweighs the potential to lose $5.

[Blink]

“In Canada, bitcoin is more of a commodity. The government’s thinking is: Let’s get a good understanding of what’s going on before making any decisions,” Jordan Kelley, the CEO of Robocoin, told CoinDesk at the ATM’s launch last month."


Nothing like random articles impressing what the public thinks. There is no "BTC in Canada" anything. I talk/bring it up in conversations with a wide variety of vocations and 99.5% of them don't have a f*cking clue what it is. These articles are for people that "don't" live in the area (no reason to doubt). So, we got the first machine. No one had a clue until it showed up one day. Then they ask "what is it?". We're gonna see a lot more of these articles popping up to make people think this is the way everyone else is thinking when in fact, no one is thinking. Transitioning to a OWG currency is unfolding before our very eyes. The propaganda is so good its even fooled a bunch of people on this site. And for those that continue to deride others by calling them "ignorant, un-educated" because they don't bow down and blow BTC, get a real job...........

[Ares]

And for those that continue to deride others by calling them "ignorant, un-educated" because they don't bow down and blow BTC, get a real job...........

Yep Ignorant and uneducated. Typical response. Guess I should get used to it from people who call a decentralized payment / currency system a "one world government" currency.

One World Government currency? Really? Are you fucking kidding me? Did you even bother to research it or is it the typical pull it out of my ass because that's how I see it response? I'm asking you seriously here, how can you have a P2P payment system / currency that is government controlled? You cannot have P2P technology while at the same time having it be controlled, by government or anyone for that matter. P2P has been, and always will be voluntary, that's the nature of Peer to Peer. Honestly think about that one. That would be like saying that Bit Torrent is controlled by the government.

Don't like the technology or the idea behind that's fine. To each their own, but quit making stupid uneducated half ass attempts to demonize it because you don't have any idea how it works.

I've said it before, I have no idea if Bitcoin will win in the end. I just see it as the free market looking for alternatives to Government and central bank controlled currencies. The human race has had 500 year history (if not more) of central control and authority over the issuance of the medium of exchange. By god it's about damn time we have something different.

[Blink]

Yep Ignorant and uneducated. Typical response. Guess I should get used to it from people who call a decentralized payment / currency system a "one world government" currency.

One World Government currency? Really? Are you fucking kidding me? Did you even bother to research it or is it the typical pull it out of my ass because that's how I see it response? I'm asking you seriously here, how can you have a P2P payment system / currency that is government controlled? You cannot have P2P technology while at the same time having it be controlled, by government or anyone for that matter. P2P has been, and always will be voluntary, that's the nature of Peer to Peer. Honestly think about that one. That would be like saying that Bit Torrent is controlled by the government.

Don't like the technology or the idea behind that's fine. To each their own, but quit making stupid uneducated half ass attempts to demonize it because you don't have any idea how it works.

I've said it before, I have no idea if Bitcoin will win in the end. I just see it as the free market looking for alternatives to Government and central bank controlled currencies. The human race has had 500 year history (if not more) of central control and authority over the issuance of the medium of exchange. By god it's about damn time we have something different.


How can government have a p2p that they control? Hmmmm. How can BTC be a system that can't be broken? Hmmmmmm (I'm asking you seriously). What kind of an ass hat question is that. If I had all the answers, I'd be rich scamming the little man instead of answering your stupid question. You don't seem to get it geek. Not everyone is an IT guru, in fact, society seems even more ignorant of the things they use than ever before. When people are just coming to grips with how this financial system really works and how they're getting fucked, here, lets introduce an even more confusing one to really screw them over. I'm not a chicken little type at all, but, the writings on the wall for this one. And "yes", OWC and OWG are a reality or have you been focused more on making dough than following world events and putting the pieces together. Btw, I'll comment/demonize any piece of fiat shit however the fuck I want pumper when it makes people turn their wealth over to a bunch of IT ass hats in exchange for hollow promises. Heres one for your pump points. You talk about moving money around the world easily (like emergency relocation or large monetary transactions). I don't know about you or others, but, myself and everyone I know aren't in the habit of moving vast amounts of money around the world (guess I'm not part of the 1%), so, that redeeming quality means shit to me. Also, if one wants to make an escape (?), where you gonna go that they don't find you and your stash. I can use a credit card or bank transfer to buy shit from around the world, I don't need BTC. So, besides the ease of "global" commerce (which doesn't really include me) what are its advantages? Hiding it? I can hide what I have now. Moving it around? To where? I don't have an issue with technology, just some of its applications and "promises". Don't like the tried and true method, fine by me, but don't pump BTC like its the next best thing since sliced bread...........

[Horn]

but don't pump BTC like its the next best thing since sliced bread...........

The thing that worries me is that is that rather suddenly they have been invited to talk to the Senate, almost on cue of it rising.

We know (or at least I know) it is a temporary currency, I just wonder if TPTB haven't adopted it as their testing platform for future currency. One where humans are constantly pumped then dumped by an ever after production of failing generational E-currencies.

Well we know what you will still have to convert back to for tax purposes. It would easy for the elite to pump and dump these E-flakes, much easier than gold. The fact that Bitcoin pool miners were just sinking in the mud now found the saving grace of a spiked rise is also troubling.

Bitcoin: The Rise and (Inevitable) Fall



Bitcoin is receiving much attention these days for its parabolic ascent. The attention seems to stem from people’s concerns with monetary policy and the growing disdain with government intervention and oversight, generally speaking. It is no coincidence that Bitcoin’s surge this year corresponds with the growing public backlash over these large issues. To that end, Bitcoin is a great story, but is it a great idea?

(http://ify.valuewalk.com/wp-content/uploads/2013/10/Bitcoins.jpg)

http://www.valuewalk.com/2013/11/bitcoin-news/ (http://www.valuewalk.com/2013/11/bitcoin-news/)

[Ares]

How can government have a p2p that they control? Hmmmm. How can BTC be a system that can't be broken? Hmmmmmm (I'm asking you seriously).

And here, I'll answer seriously. Will you understand it will be the next question?

Peer to peer technology whether it is Bit Torrent, Bitcoin, or any other peer to peer type technology is a DECENTRALIZED method or protocol for accomplishing a task that sometimes (usually) centralized. Such as streaming a video from Netflix, that is a centralized way to watch a movie. You view it from one source, a netflix streaming media server. Decentralized peer 2 peer is a version of Netflix would be anyone wanting to watch the same movie from a host that is not netflix. The computer (node) goes out and ask the network, who has X-Men? The network will respond with either hundreds or thousands of responses of (me) and start setting up the process of breaking up the movie into seeds to stream to the same computer who wanted to view that movie. Instead of getting the source from one server, it could be hundreds or thousands. It does 2 things in this scenario, it allows the viewing of the material with maximum efficiency by utilizing all available user end bandwidth (ISP's hate this) and distributes the work load among thousands of peers to distribute the content saving time and money on hardware cost and infrastructure.

It works the same way with Bitcoin, instead of having a centrally controlled point of failure, it distributes the work load. It also insures the network security by having more miners validate and check the transaction log. You might be able to fool a miner, or maybe even a single pool of miners, but you'll never fool all of the miners if you attempt to double spend, or introduce your own bitcoin into the network without it being mined from the block chain. The only way to compromise the system would be to perform a 51% hack against the block chain. There is speculation that a single pool (albet extremely large pool) could compromise the ETHICAL aspect of the Bitcoin network, but not compromise the technology itself. That in of itself is debatable as miners would have to go a month or 2 without seeing a single profit. Being a miner myself going a week without seeing a profit in turn to improve my ROI is not going to happen. I'll leave and go to a pool that will pay me for my work.


What kind of an ass hat question is that.

A response to a bullshit response. You have no basis of evidence for the claims you made, just went with whatever you felt like.


If I had all the answers, I'd be rich scamming the little man instead of answering your stupid question.

No you wouldn't. Who are you fooling? Should we name the board fuck over the little guy and let me get mine? You in section 8 housing? Have an EBT card? If not why not? That's a real classy way of sticking it to the little guy.


You don't seem to get it geek. Not everyone is an IT guru, in fact, society seems even more ignorant of the things they use than ever before.

No I do, your inability to get it is what concerns me. Everyone here claims to be for a fair and free market. IT Guru has shit to do with it. 95% of the population doesn't get how our current monetary system works (that's over 100 years old by the way) and yet Bitcoin is something everyone needs to wrap their heads around and totally understand to work?? Hmmmm I fail to see the logic in that argument. All I can say is try it sometime, compare an international wire transfer with ridiculous fee's and conversion rates to sending a virtual coin to someone in another country. Son Of Liberty is giving away 50 World Coins to those who are interested in at least looking into and trying an alternative currency. All I can say is try it.


When people are just coming to grips with how this financial system really works and how they're getting fucked, here, lets introduce an even more confusing one to really screw them over.

Please show the class here how anyone is getting screwed over. Making bullshit statements is easy. Let's see your evidence. If you can't produce it, how about you shut the fuck up? Just a thought. Most people could care less how the financial system works, if they can purchase their porn, put fuel in the tank and food on the table, they don't give a shit what the medium of exchange is.


I'm not a chicken little type at all, but, the writings on the wall for this one. And "yes", OWC and OWG are a reality or have you been focused more on making dough than following world events and putting the pieces together.

You forgot the little boy who cried wolf. I've put the pieces together, and alternative currencies are a free market solution to a government induced and centrally controlled problem. I'll ask you again, show me how a decentralized currency / payment system that is under no control and cuts out these governments can be a one world government currency. Please by all means, show me. I want to see where the control mechanism is. I've looked for it. I took 3 days to go through the source code looking for it. Until you can show it to me, or anyone here for that matter see the STFU comment above. Because I'm really tired of the bullshit without evidence claims.


Btw, I'll comment/demonize any piece of fiat shit however the fuck I want pumper when it makes people turn their wealth over to a bunch of IT ass hats in exchange for hollow promises.

You do realize that fiat is by government decree right? If you're going to demonize a currency at least get the fucking definition right so you don't look like a fucking idiot doing it. Here keep reading this a few times until it sinks in.

fi'at mon`ey
n.
paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.
Unlike you, I can provide a source for that claim: http://www.thefreedictionary.com/fiat+money


Heres one for your pump points. You talk about moving money around the world easily (like emergency relocation or large monetary transactions). I don't know about you or others, but, myself and everyone I know aren't in the habit of moving vast amounts of money around the world (guess I'm not part of the 1%), so, that redeeming quality means shit to me.

So you've never purchased anything on-line? Ever? Did you not just move "money" around? So being able to be mobile with your currency doesn't mean shit to you? I guess 5000+ years of human history doesn't mean shit to you either? What a completely ignorant stupid comment to make.


Also, if one wants to make an escape (?), where you gonna go that they don't find you and your stash. I can use a credit card or bank transfer to buy shit from around the world, I don't need BTC.

I'm not foolish enough to believe there is a place to go that is safe for anyone. Not from these power hungry morons. But I'm also not stupid enough keep putting my faith in manipulated, controlled and easily corrupted not to mention TRACKED mediums of exchange. I mean you can trust the government and credit card processors right? They'd never lie to you even though they control the issuance, taxation, bribery, inflation, and just about every other aspect of every single transaction you take part in. But yeah you're right, I'm sure it's safe.


So, besides the ease of "global" commerce (which doesn't really include me) what are its advantages? Hiding it?

You take part in global commerce directly or indirectly whether you like it or not. Almost everything sold in the states is either made in China, Japan, or Mexico. So which part of that "really doesn't include you"? that you were talking about again? The advantages are they did not issue it, it cannot be inflated, and it cannot be duplicated. It however IS NOT A STORE OF VALUE. So it misses the main key of being money. But so does the dollar which ironically enough you feel just fine using, including credit cards apparently. :rolleyes:


I don't have an issue with technology, just some of its applications and "promises".

What promises? I don't remember reading any promises from me, or anyone else here. There is a difference between PROMISING, and PROMISES. Reading comprehension not a strong point??


Don't like the tried and true method, fine by me, but don't pump BTC like its the next best thing since sliced bread...........

And what Tried and true method would that be? I have a good stash of physical assets. But what good does it do me when the general population is completely ignorant of it's value? Go ahead, ask any joe blow on the street what the current spot price of gold or silver is. Does it really have "intrinsic" value if you're the only one of the few who understand it and know what it's true value is? Cut the high road bullshit, the elite aren't going to give up their gold and silver for us peons when the system collapses. AT BEST, and I'll say that again for the reading comprehensive impaired. AT BEST they'll introduce a global gold backed currency issued by the IMF or the BIS to deal with the "sudden catastrophic" and lets not forget "unforeseen" collapse of the dollar. But it will be no where near a 1 to 1 ratio, you can bet your ass on that one. They'll still control the issuance, fractional reserve lending will continue unabated, and your enslavement will continue with your own financing.

BTC is far from the best thing since sliced bread, it has a number of flaws. Transaction times, too rigid of security as most people have no idea how a public / private key transaction works, and what happens if you lose your private key etc. But I would much rather put my faith in a free market solution backed up by mathematics that I can see and numbers not being skewed in anyones favor instead of one contrived by governments and central bankers who do everything hidden and out of view.. I'm all open to see evidence of them controlling it, I've looked for it before I jumped in. Only reason I did was because I couldn't find it. So by all means, produce this evidence you speak of.

[Horn]

http://www.youtube.com/watch?v=c8N72t7aScY

[gunDriller]

Bitcoins are 'in' ... not unlike high-tech stocks in the late 90's.

never under-estimate the effect of 'in-ness' on a virtual assets value.

i expect that long-term Bitcoins will rise in value.


but i think of it sort of like Paypal, something you use when it facilitates an on-line transaction.

[sirgonzo420]

Bitcoins are 'in' ... not unlike high-tech stocks in the late 90's.

never under-estimate the effect of 'in-ness' on a virtual assets value.

i expect that long-term Bitcoins will rise in value.


but i think of it sort of like Paypal, something you use when it facilitates an on-line transaction.

It's like PayPal... or rather, what PayPal was originally wanting to be.

Except that today's PayPal is centralized and can steal your funds at their whim.

Bitcoin is decentralized, and what's yours is yours.

here's a post where the creator of Bitcoin introduces the protocol and the ideas behind it:



Bitcoin open source implementation of P2P currency

Posted by Satoshi Nakamoto (http://p2pfoundation.ning.com/profile/SatoshiNakamoto) on February 11, 2009 at 22:27
View Discussions (http://p2pfoundation.ning.com/forum/topic/listForContributor?user=0ye0gncqg772o)


I've developed a new open source P2P e-cash system called Bitcoin. It's completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper:

Download Bitcoin v0.1 at http://www.bitcoin.org

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.

A generation ago, multi-user time-sharing computer systems had a similar problem. Before strong encryption, users had to rely on password protection to secure their files, placing trust in the system administrator to keep their information private. Privacy could always be overridden by the admin based on his judgment call weighing the principle of privacy against other concerns, or at the behest of his superiors. Then strong encryption became available to the masses, and trust was no longer required. Data could be secured in a way that was physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter what.

It's time we had the same thing for money. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.

One of the fundamental building blocks for such a system is digital signatures. A digital coin contains the public key of its owner. To transfer it, the owner signs the coin together with the public key of the next owner. Anyone can check the signatures to verify the chain of ownership. It works well to secure ownership, but leaves one big problem unsolved: double-spending. Any owner could try to re-spend an already spent coin by signing it again to another owner. The usual solution is for a trusted company with a central database to check for double-spending, but that just gets back to the trust model. In its central position, the company can override the users, and the fees needed to support the company make micropayments impractical.

Bitcoin's solution is to use a peer-to-peer network to check for double-spending. In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle. For details on how it works, see the design paper at http://www.bitcoin.org/bitcoin.pdf

The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other, with the help of the P2P network to check for double-spending.

Satoshi Nakamoto
http://www.bitcoin.org

[StreetsOfGold]

I took my last few dollars, rented some scuba gear and found all the gold and silver I lost in the boating accident.
I doubled down on Goog and bitcoin. Hoping for the big payoff. Just need some money for my O-bam-0=care now and I'm good!