Bitcoin Crashes, Withdrawals Frozen

There were whispers of uncertainties about Bitcoin even when they were soaring, there are a hint of doubts. However, some people who wants to get rich quick disregard the red flags and were too eager to jump to invest in the cryptocurrency.

The bitcoin crashed, which is its 3rd in recent months, that leaves investors wondering if this is the end of the once promising currency.

The crash was a result of an oversight made by Tokyo based MtGox, which is the largest exchange. They allowed bitcoins to be traded for traditional currency. Then they hold the accounts of all its customers and stop their operations when the company discovered an unfortunate glitch.

MtGox said in a statement: “A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur.”

Which means the bug permit someone to get additional bitcoin currency and it may be use to exploit the system for fraud. They also said that the flaw in the bitcoin standard allowed fraudulent cancellations of completed transactions.

The currency value dropped by 20%. After hanging in the range of $900 to $1,000 for most of 2014, Bitcoin prices plummets to as low as $500 before recovering slightly to around $700 on Monday.

Congressional Budget Office: Obamacare Will result to Loss of 2 million Jobs, Shrink the Economy

Last Tuesday the Congressional Budget Office said that the Obamacare or healthcare law will diminish work hours that is equivalent to 2 million full-time jobs in 2017.

The latest U.S. fiscal outlook which is a non-partisan CBO indicated that the Obamacare will affect the workforce of the country particularly those who are in the lower income bracket. Congressional Budget Office Director Douglas Elmendorf said that workers will limit their hours so that they will not lose federal subsidies that is provided by the law to help pay for health insurance and other healthcare costs.

The country will feel its impact in 2017 owing to the fact that major provisions of Obamacare

The biggest impact would begin in 2017, CBO said, because major provisions of the law will have started by then. They said that on 2024 the work hours will shrunk by equivalent of 2.5 million jobs.

He further said, "The act creates a disincentive for people to work."

House Budget Committee Chairman Paul Ryan, R-Wis that the law will not lay off workers but people will choose not to work because of this provision.

"As a result ... that (lower) labor supply lowers economic growth," Ryan said.

Elmendorf answered: "Yes, that's right."

Ryan added that this would mean that few people would be joining the middle class.

"It's adding insult to injury," he said. "As the welfare state expands, the incentive to work declines meaning grow the government, you shrink the economy."

Obama's Fact Check Highlights Misstatements in Speech

I've stumble upon an interesting article by Calvin Woodward AP, talking about misstatements made by Barrack Obama on his State of Union address. He gave his State of the Union address on Capitol Hill in Washington,last Tuesday January 28, 2014.

My take about the article is I don't think retiring baby boomers is that significant and it is not the same as unemployed. In reality, most of Americans wants to find full time job but can't, because of the continues exporting of jobs to other countries. 

check out the article after the jump!

Jimmy Kimmel Take on ObamaCare (Affordable Care Act)

Jimmy Kimmel live opening monologue is about ObamaCare, he ridiculed the young people who are supporting the Law since they will be the one to be disadvantaged. Check out the video clip above.

Accenture is now the lead contractor for Obamacare website HealthCare.gov

Reuters recently reported that the Obama government awarded Accenture as the lead contractor for the Obamacare enrollment website. They will be replacing CGI Federal, which encountered  a lot of failures and bugs when they launched the website HealthCare.gov in October for millions of Americans shopping for health insurance. This was announced by the U.S. Centers for Medicare and Medicaid Services on Saturday.

When CGI build the website HealthCare.gov it was riddled with errors, slow speeds, and glitches that gave President Barack Obama a lot of problems and gave Republican another reason to repeal Obamacare.

CGI Federal announced last Friday that its contract that was awarded in 2011, will end on February 28, and would not be renewed.

Accenture said the contract was worth $45 million for the initial phase of the project, and the final value of the one-year contract would be about $90 million.

March 31 is the deadline for signing up for a 2014 health insurance under the Affordable Care Act, Accenture will need to be ready and take on the surge of last-minute sign-ups.

HAPPY NEW YEAR 2014

Let us all Welcome 2014

With a Bright Smile and Happiness

Share Good deeds to everyone

Happy New Year to all of you!

US Government Extends insurance Enrollment deadline by 24 hours

The deadline for registration for health insurance coverage on healthcare.gov has been extended by the Obama Government by 1 day. The deadline used be 11:59 p.m. last Monday.

Times said that on Monday there's a huge traffic on Healthcare.gov and the Whitehouse wants to be sure that people who wants coverage can have one.

Monday, December 23 had been the deadline for selecting a plan, it will take effect on the 1st day of the new year 2014.

Penalty: Under the Affordable Care Act or Obamacare, you will have to pay $95 penalty or 1% of income in 2014 if you don't have health insurance coverage. It is set to rise to $695 or 2% of income by 2016.

To avoid the penalty, you will need to enroll in a plan by February 15 or qualify for an exemption from the penalty.

Merry Christmas To All!

Christmas season is the time for Peace and love
I wish you a peaceful Christmas
Filled with love and joy
Merry Christmas To you

"Honda" Front Ranks the Insurance Industry 2014 Safety List

Honda Motor Company got the first place on the yearly insurance industry ranking of the safest new vehicles. The Insurance Institute for Highway Safety (IIHS) released the ranking on Thursday December 19, 2013, they award 39 vehicles top safety ratings for 2014. It went down by 70%, last year they have 130 vehicles on the list.

This year the vehicles needed to top the crash test scores and to have a high level front crash prevention system like automatic braking for it to be able to receive the highest classification. It's rank either "Top Safety Pick" or "op Safety Pick +".

Of the 39 vehicles, 22 go the top classification while the 12 receive the classification just below it. 

Honda Motor Co got 8 vehicles on the list making them the automaker with the most vehicle on the list. 6 of their vehicles go the "Top Safety Pick +":

1. Honda Accord 2-door
2. Honda Accord 4-door
3. Honda Civic 4-door *hybrid version
4. Acura RL
5. Acura MDX
6. Honda Odyssey
7. Honda Civic 2-door
8. Acura TL

This is the list used by car shoppers who buy vehicles with high safety ratings. It is also use for advertising by the automakers.

The institute indicate that the "Top Safety Pick +" are those with optional front crash prevention systems, if they didn't get that rank they still met the Top Safety Pick criteria.

Here is the Full List:

2014 2014 IIHS TOP SAFETY PICK+

1. Honda Civic 4-door *hybrid version
2. Mazda 3 - built after October 2013
3. Toyota Prius - built after November 2013
4. Ford Fusion
5. Honda Accord 2-door
6. Honda Accord 4-door
7. Mazda 6
8. Subaru Legacy
9. Subaru Outback
10. Infiniti Q50
11. Lincoln MKZ
12. Volvo S60
13. Acura RL
14. Volvo S80
15. Mazda CX-5 - built after October 2013
16. Mitsubishi Outlander
17. Subaru Forester
18. Toyota Highlander
19. Acura MDX
20. Mercedes-Benz M-Class - built after August 2013
21. Volvo XC60
22. Honda Odyssey

2014 IIHS TOP SAFETY PICK

1. Chevrolet Spark
2. Dodge Dart
3. Ford Focus
4. Honda Civic 2-door
5. Hyundai Elantra
6. Scion tC
7. Subaru Impreza
8. Subaru XV Crosstrek
9. Chrysler 200 4-door
10. Dodge Avenger
11. Kia Optima
12. Nissan Altima
13. Toyota Camry - built after November 2013
14. Volkswagen Passat
15. Acura TL
16. Mitsubushi Outlander Sport
17. Volvo XC90

*Front crash prevention isn't available on nonhybrid versions of the Civic.

Obamacare Enrollment Stats

Obamacare enrollment statistics released last Wednesday showed that 364,682 people in the US have already signed up for private coverage as of November 30, 2013. It is still less than 1/3 of the 1.2 million people officials had originally projected would enroll nationwide by the end of November.

The Obama government also projected that 7 million consumers would sign up for coverage during the first year. The government and insurers targeting desperately healthy, young adults to convince them to enroll to pay for the costs of paying for older, sicker consumers. Obamacare is designed to get money from people who value their health. 

Critics says that "The president's health care law (Obamacare) has driven up costs, reduced choices and resulted in the cancellation of over 5 million health care plans that the president promised the American people they could keep," Rep. Congressman Jim Renacci said. "Though we know that problems with the president's health care law run far deeper than a broken website, it also is our responsibility to ensure that we reduce the negative effects of the law. It is time for the administration to update Congress and the American people on its efforts to correct serious back-end issues within its government-run health care system that could potentially be disastrous for insurers and Americans everywhere."