Square announces bitcoin support for Square Market

Posted on March 31, 2014

Mobile payment system Square is no innovation. Best known for their smartphone plug-in credit card readers, the company has already helped to redefine how transactions work in the internet age. Continuing in that vein, Square announced today the addition of bitcoin payment support to their Etsy-like online marketplace Square Market. Sellers should never miss a […]

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Wall St. Journal claims People’s Bank of China representative retracts bitcoin ban warnings

Posted on March 31, 2014

With all of the uncertainty and rumors surrounding the People’s Bank of China’s view of bitcoin, it’s only natural that every word from any semi-official source will come under close scrutiny. But that doesn’t mean that every rumor is equally valid, even when it comes from someone like Zhang Niannian. Posting to his personal Sina […]

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Report: Bitcoin’s technology could revolutionize voting

Posted on March 31, 2014

In a report published today on Vice.com, writer Christopher Malmo considers the potential of using bitcoin’s trustless, consensus-based software as a means to completely reshape the one thing that’s even thornier than the finance system: Democracy. One of the most promising applications of new crypto tech lies in creating transparent, efficient systems for making political […]

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UK exchange Bit121 closes after failed search for new banking partner

Posted on March 31, 2014

Today marks the final day of normal operations for UK-based bitcoin exchange Bit121. The company explained via their website that they were not officially closing, but merely entering a period of “hibernation,” and hope to re-open “at some point in the near future.” While the closure of an exchange is difficult to see as good […]

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Report: Ex-Mt.Gox staff claim exchange used client money to cover costs

Posted on March 30, 2014

In a report published by Reuters today, former staffers at failed bitcoin exchange Mt.Gox claim that client funds were used to cover internal costs. In a series of exclusive interviews with reporters, the former staffers claimed that they had voiced concerns to CEO Mark Karpeles in early 2012, but that no changes were made. By […]

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Report: People’s Bank of China deputy director says bitcoin is a commodity

Posted on March 29, 2014

In a brief post on Asian market bitcoin blog Bit-Sky, a deputy director of the People’s Bank of China addressed his institution’s view of virtual currency in a speech at the 2014 Spring Summit of China Internet Finance Conference. According to Bit-Sky, the deputy director said: Now, the currency is fiat currency, sovereign currency. Is […]

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Coinbase announces BitHack winners

Posted on March 29, 2014

In February, Coinbase announced BitHack, an online hackathon open for “all developers who want to create something great with bitcoin.” Using the Coinbase API, programmers had just over a month to compete for a total of $18,000 in prize money. After weeks of waiting, the winners were finally announced in a blog post yesterday. First […]

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Trading halted on Neo & Bee stocks amid reports of “questionable trading activity”

Posted on March 28, 2014

Havelock Investments notified Neo & Bee (NEOBEE) holders to day that trading had been halted due to “an increase of abnormal activity” on the LMB share platform. (LMB Holdings is Neo & Bee’s parent company.) The notification was sent via email, and has yet to be posted to Havelock’s website. Neo & Bee has been […]

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SecondMarket’s Barry Silbert claims the insurance industry is eyeing bitcoin

Posted on March 28, 2014

With his Bitcoin Investment Trust rapidly gaining interest from curious mainstream investors, it’s no surprise that businesses want to talk to Barry Silbert. What is surprising, however, are the kinds of businesses who are now knocking on his door. Earlier today, Silbert posted this tweet, hinting at what may be the strongest indicator yet of […]

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UBS investment report declares bitcoin “Problematic currency, interesting payment system”

Posted on March 28, 2014

As one of the top global financial services companies in the world, Switzerland’s UBS manages over $1 trillion in assets. When a company of that size publishes a report on bitcoin, investors the world over pay attention. Today, UBS published a paper titled “Bitcoins and Banks: Problematic currency, interesting payment system” outlining their perspective on […]

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Former director of U.S. Mint weighs in on the IRS bitcoin decision

Posted on March 28, 2014

If there’s anyone who should understand the mechanics of currency, it’s Edmund C. Moy. From 2006 to 2011, Moy was the Director of the United States Mint, government office in charge of both handling the nation’s gold and silver bullion and producing all of its coinage. With the recent decision by the IRS to treat […]

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Report: Peoples’ Bank of China orders accounts of bitcoin-based businesses to be closed by April 15

Posted on March 27, 2014

Chinese news site Sina is reporting that the People’s Bank of China has issued a statement demanding that all banks and third-party payment processors in the country shut down accounts of the 15 listed bitcoin exchanges in the country. The still unconfirmed report (Google Translate version here) claims that the ruling would limit essentially limit […]

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Sen. Joe Manchin backs off his “ban bitcoin” stance

Posted on March 27, 2014

One month to the day after he sent a highly controversial letter to the Treasury, Federal Reserve and other related financial agencies calling for the outright ban of bitcoin, West Virginia Senator Joe Manchin appears to have dramatically softened his stance. Speaking with the Washington Post, Manchin said the boom in private investment and regulatory […]

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Bitcoin Foundation weighs in on new IRS rules

Posted on March 27, 2014

In a post on the Bitcoin Foundation’s blog yesterday, Marco Santori, Chairman of the foundation’s Regulatory Affairs Committee responded to the recent decision by the Internal Revenue Service (IRS) to treat bitcoin as a stock-like class of property, rather than as a currency. The post notes that the foundation “appreciates the IRS’ hard work in […]

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Will the IRS ruling launch a new niche market for bitcoin startups?

Posted on March 27, 2014

Yesterday, the IRS declared that bitcoins were to be treated under the same rules as stocks under U.S. tax law, causing a wave of relief for seasoned investors and a chill of quiet panic among casual users. A literal interpretation of the rules would require an immense amount of bookkeeping for anyone who would use […]

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Bitcoin cited in California state senator Leland Yee corruption case

Posted on March 27, 2014

California State Sen. Leland Yee was arrested yesterday on charges of public corruption, soliciting funds from undercover FBI agents in exchange for promises to aid in a gun-trafficking deal that would have illegally armed Muslim rebels in the Philippines. Yee was one of 26 people charged in the the five-year-long investigation, as was accused murder-for-hire […]

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Report: Researchers claim Mt.Gox could only have lost 386 BTC to transaction malleability

Posted on March 27, 2014

In a research paper titled “Bitcoin Transaction Malleability and MtGox” posted to the arXiv archive yesterday, authors Christian Decker and Roger Wattenhofer determined that Mt.Gox could not have lost 850,000 bitcoins through a transaction malleability glitch in the site’s code. Instead, the researchers note that an attack of that scale has never taken place, and […]

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Kraken gains $5 million in new funding, GoCoin raises $1.5

Posted on March 26, 2014

The venture capital world has been spreading their money around the bitcoin ecosystem in a big way this week. While much the attention is understandably going to the $17 million raised by Circle, two smaller VC investments may have even bigger impacts in the coming months. San Francisco-based bitcoin exchange Kraken has raised $5 million […]

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Bitcoin ATM maker Lamassu unveils new pedestal version with 8 week order-to-ship time

Posted on March 26, 2014

There’s a huge amount of free promotion for the first business in a city or region to have a bitcoin ATM, but practically zero media attention for the second. As a result, the ATM company with the fastest delivery time tends to get the business. With that in mind, startup bitcoin ATM maker Lamassu has […]

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Canada’s Vault of Satoshi granted Money Service Business License

Posted on March 26, 2014

Earlier this month, Canadian virtual currency exchange Vault of Satoshi announced it was ceasing all U.S. currency transactions due to ongoing issues with regulators. In recent weeks, the exchange has been focused on becoming a legitimate financial institution in Canada, even though there are few formal rules for how bitcoin fits into Canadian banking law. […]

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