01 Oct '13, 12am

Bitcoin exchange Tradehill will now auction bitcoin-mining equipment - MarketWatch (blog)

A company known for its popular bitcoin mining equipment will begin to auction off its newest offering in October on Tradehill, a bitcoin exchange that suspended trading exactly one month ago because of “banking and regulatory issues .” Getty Images BitSyncom said Monday it will sell its Avalon ASIC mining equipment through a series of auctions on Tradehill in an effort to let bidders set their own prices above a predetermined minimum. Each auction will have defined number of units for sale that will be available for shipment after the three-day auction. Bitcoin is a virtual currency that is created through a process called mining in which a computer solves a cryptographic problem. The difficulty level increases as more computers attempt to find a solution, which is important because the supply of bitcoins is fixed at 21 million. That has turned the acquisition of the late...

Full article: http://blogs.marketwatch.com/thetell/2013/09/30/bitcoin-e...

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of #bitcoin.

of #bitcoin.

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