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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With just under 4% of Auroracoin “airdrop” complete, price rebounds

Posted on March 26, 2014

When the Auroracoin “airdrop” began yesterday, things did not look promising for the Icelandic alt-coin. A crush of users trying to claim their coins effectively caused DDoS attack on the site, and other technical glitches resulted in the site falling to the bottom of alt-coin value tracking site Coinmarketcap, landing just above CorgiCoin. And to […]

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Circle raises $17 million, announces new wallet and exchange

Posted on March 26, 2014

Boston-based bitcoin startup Circle has always been a little vague about what exactly it is they’re building. The company’s website has rarely provided more detail than “building digital currency products that make money simpler, safer, and more powerful,” prompting no end of speculation about what kind of service Circle would eventually provide. Are they a […]

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IRS declares bitcoin to be property, not currency

Posted on March 25, 2014

After months of speculation, the Internal Revenue Service has released new rules for including bitcoin in annual tax filings (PDF). According to the rules, bitcoin is to be handled as a form of property, rather than currency, meaning bitcoin itself is to be treated like a stock. This puts many bitcoin buyers in the awkward, […]

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Report: Rumors surface that Mt.Gox may have found the rest of its “stolen” bitcoins

Posted on March 25, 2014

A few days after Mt.Gox filed for bankruptcy protection in Japan, an obscure Twitter user named Eren Canarslan reported that he had heard from an inside source that Mt.Gox had “found” their lost coins. Canarslan later claimed that Mt.Gox CEO Mark Karpeles had confirmed this rumor. Two weeks later, Mt.Gox announced that nearly 200,000 BTC […]

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Walmart now indirectly accepting bitcoin via Gyft

Posted on March 25, 2014

Mobile gift-card app provider Gyft had pulled something of a retail-store coup, officially adding retail giant Walmart to its merchant list. This slightly indirect buying method means that bitcoin-bearing shoppers can use their cryptocurrency at all Walmart and Sam’s Club locations in the U.S. (roughly 5,000 locations), although it is not clear if the cards […]

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Auroracoin’s “airdrop” causes site crashes and other technical woes

Posted on March 25, 2014

In the world of bitcoin-variant cryptocurrencies, few experiments have gained as much attention as Auroracoin. The Icelandic alt-coin was designed to offer a viable alternative to the nation’s long-troubled domestic currency, the krona, which has massively devalued in recent years. One key part of the plan to launch Auroracoin is the so-called “airdrop” of half […]

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Cryptocurrency-mining malware spreads on Linux machines

Posted on March 24, 2014

A new version of malware worm is causing headaches for Linux users across the internet. Last year, Symantec identified a PHP-exploiting worm called “Linux.Darlloz” which was popping up on non-PC Linux devices like routers and security cameras. The worm was a security specialist’s nightmare, but most vulnerable devices could be easily patched with a simple […]

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CFTC-approved bitcoin swaps may soon be approved

Posted on March 24, 2014

Bloomberg reports that the Tera Group Inc. is seeking approval of a legal framework to allow bitcoin swaps. The derivative device would allow investors to trade payments based on the performance of bitcoin versus that of an established fiat currency. The terms for a multimillion dollar swap between two U.S. institutions is planned to hedge […]

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BTC exchange Kraken passes audit, all customer coins held in reserve

Posted on March 24, 2014

The first generation of bitcoin exchanges had it easy. Users were so happy to have a place to buy and sell bitcoin, that they didn’t worry too much about how those businesses actually operated, whether or not they were secure, or even if the user funds were really all accounted for. The situation at Mt.Gox […]

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Australia’s Diamond Circle unveils cashless bitcoin ATM

Posted on March 24, 2014

Bitcoin ATMs all share a similar problem: They require cash. Customers pay in cash to receive bitcoin (either in a QR code-based transaction or a receipt-like paper wallet), or they pay in bitcoin to withdraw cash. For a currency that was born on the internet, relying on cash and paper to do business is a […]

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Toronto-based hip-hop band becomes the first to make BTC via FrostWire

Posted on March 23, 2014

BitTorrent client FrostWire made news late last year when it introduced a plan to enable artists to embed bitcoin payment addresses into their uploads, providing a simple means to pay the artist directly. That functionality was included in the latest FrostWire update, 5.7.1, released yesterday. The payment integration includes support for litecoin, dogecoin and PayPal […]

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BitPay joins Bitcoin Foundation

Posted on March 23, 2014

Atlanta-based BitPay is one of the rising stars of bitcoin payment processing, but until recently it didn’t have a seat at the table of bitcoin’s best-known advocacy group, the Bitcoin Foundation. Yesterday, the BitPay formally joined the foundation with a bang, joining at the “Gold” sponsorship level. While a “Gold” membership doesn’t come with many […]

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Crypto exchange Vircurex freezes withdrawals

Posted on March 23, 2014

Last year, German-owned cryptocurrency exchange Vircurex was hacked, losing a “significant number” of bitcoin, litecoin and other alt-coins from the site’s hot wallets. The exchange reported the loss soon after it happened, and vowed to replace lost funds from their own pockets. Owing to “large fund withdrawals in the last weeks,” however, the exchange announced […]

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The 84 alternate uses of the blockchain

Posted on March 22, 2014

Bitcoin is more than just a newfangled breed of internet-based currency. It’s a truly groundbreaking innovation that has the potential to completely reshape how we handle both public and private information. While the idea behind bitcoin was inspired by the need to have a universally available currency that wasn’t subject to the whims of governments […]

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Who will win the bitcoin race: Winklevoss Twins or SecondMarket?

Posted on March 22, 2014

Last year, Cameron and Tyler Winklevoss announced their plans to launch the world’s first publicly traded Bitcoin exchange-traded fund. Unfortunately, the Winklevoss Bitcoin Trust has been mired in the complexities of Securities and Exchange Commission regulation, leaving the field open for competition. If Barry Silbert’s SecondMarket has their way, the Winklevii will be stuck in […]

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New bitcoin ATM unveiled in Silicon Valley

Posted on March 21, 2014

With bitcoin ATMs popping up an almost daily basis for the last month, there as been a noticeable void of activity in the tech-driven community in Silicon Valley. That changed yesterday, when Robocoin launched a new two-way bitcoin ATM at the Bitconference held at 500 Startups headquarters in Mountain View. While the ATM isn’t likely […]

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Report: False rumor of Chinese bitcoin ban drives price drop

Posted on March 21, 2014

Bitcoin prices have fallen a little over 2.5% (about $12) in the last 24 hours, seemingly due to a false report that Chinese authorities were on the verge of blocking all bitcoin transactions starting April 15. The claim, published on China’s equivalent of Twitter, Sina Weibo, has since been retracted. According to a translation published […]

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BTC-e now processing withdrawals to Visa and MasterCard

Posted on March 21, 2014

Thanks to a new withdrawal system recently announced by BTC-e, one of the biggest roadblocks to mainstream bitcoin adoption may soon be a thing of the past. Starting today, BTC-e customers can withdraw their funds to any country in the world through their Visa or MasterCard. This development has huge implications for the bitcoin community. […]

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Mt.Gox confirms the recovery of nearly 200,000 BTC from “old format” wallet

Posted on March 21, 2014

In a media release posted late yesterday evening on the Mt.Gox website, the bankrupt bitcoin exchange announced that it had recovered “199,999.99” BTC from an “old format” wallet. According to the statement, the discovery was made on March 7 during an audit as part of their bankruptcy proceeding. The recovered bitcoins are worth $114 million […]

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Coinbase hires two big names from Amazon and Facebook

Posted on March 20, 2014

This week, Coinbase announced the addition of two new staffers, both with impressive tech pedigrees. Former Facebook security director Ryan McGeehan will move to a security role at the bitcoin startup, while former Amazon business development and sales director Todd Edebohls joins the company as a VP of business development. From a business perspective, both […]

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Report: Mt.Gox claims to have “found” 200k in lost bitcoin

Posted on March 20, 2014

In a report published on Yahoo News’s Japan section, Mt.Gox has recovered nearly 200,000 BTC from a “lost” wallet dating back to 2011. The company’s lawyers claim that Mt.Gox found the wallet on March 7 during an internal investigation following their declaration of bankruptcy on Feb. 28. Few details about the recovery have been released, […]

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ATM industry group releases bitcoin ATM report

Posted on March 20, 2014

It’s no surprise that more banking-related industries take such a critical, or even hostile stance towards bitcoin. By its very nature, bitcoin and other cryptocurrencies cut banks completely out of the loop and undermine their entire business model. From the banking world’s perspective, bitcoin is a completely disruptive innovation. From the perspective of the ATM […]

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Report: Visualizing the trading history of the top 500 at Mt.Gox

Posted on March 20, 2014

There has never been a currency as inherently transparent as bitcoin. Anyone who feels so inclined can download the entire block chain (about 16GB at the moment) and sort through every transaction ever made. But when transactions happen in off-chain transactions, which is almost always the case at an exchange or online wallet, it becomes […]

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Legg Mason Chairman: Potential return on bitcoin is huge

Posted on March 20, 2014

As the Chairman and CIO of Legg Mason Capital Management, Bill Miller is used to thinking big. His company manages an estimated $695 billion in assets, making it one of the top 20 investment management groups in the world. Miller is very much an insider in the world of high finance, and the kind of […]

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CoinEX.pw hacked, all funds lost

Posted on March 19, 2014

As the major exchanges ramp up their security efforts in response to the transaction malleability attacks that took down Mt.Gox, several smaller exchanges with less development resources have found themselves targeted. The most recent case involves CoinEX.pw, based (for tax purposes, at least) in the Pacific island nation of Palau. CoinEX is a small exchange […]

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BitPay expands with new offices in New York and San Francisco

Posted on March 19, 2014

Atlanta-based bitcoin payment processing company BitPay announced today that it will expand operations with new offices in New York and San Francisco. The company’s physical expansion into new markets has long been expected, and both cities are logical choices for new offices. San Francisco is a huge tech hub and home to many venture capital […]

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Are SatoshiDice and MPEx under SEC investigation?

Posted on March 19, 2014

If a recent post by often-controversial bitcoin personality Mircea Popescu is to be believed, the U.S. Securities and Exchange Commission has focused their gaze on well-known bitcoin gambling site SatoshiDice. Popescu posted a series of emails he exchanged with SEC senior attorney Daphna Waxman, who was requesting information about the listing of shares of SatoshiDice […]

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Report: Pantera Bitcoin Partners launching bitcoin hedge fund

Posted on March 19, 2014

Investment firm Fortress Investment Group (FIG) was one of the first Wall Street companies to take bitcoin seriously, setting aside at least $20 million in funding for bitcoin-related investments in 2013. While FIG has also reported a loss of $3.7 million from their bitcoin business since that time, that doesn’t seem to be diminishing their […]

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Bitcoin 0.9.0 now officially released

Posted on March 19, 2014

The latest version of the Bitcoin client is now officially available. The newly updated 0.9.0 release renames the client Bitcoin Core (to avoid confusion with the Bitcoin network generally and bitcoin the currency), and includes a host of other changes and tweaks. The update has been highly anticipated since the posting of the third release […]

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U.S. Treasury Under Secretary Cohen claims bitcoin is bad for money launderers and terrorists

Posted on March 18, 2014

Speaking at the Bloomberg Breakfast event today, US Department of the Treasury Under Secretary for Terrorism and Financial Intelligence David S Cohen answered many questions about the evolution of policies and law enforcement tactics related to virtual currencies. Cohen focused largely on efforts to combat illicit uses of cryptocurrency, but also hinted that long term […]

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Western Union CEO weighs in on virtual currencies

Posted on March 18, 2014

In the first of a three-part series on CNN’s Fortune blog, Western Union CEO Hikmet Ersek discusses virtual currency from his company’s point of view. Given that bitcoin and other virtual currencies are often presented as extraordinarily disruptive technologies for the traditionally stable money-transfer business, it’s only natural for the hardly technophobic Ersek to weigh […]

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Dorian Nakamoto hires lawyer, claims his ability to work harmed by Newsweek

Posted on March 18, 2014

If Newsweek magazine is correct, Dorian Nakamoto is not the financially struggling 64-year-old engineer he appears to be. He’s actually the genius cryptographer, mathematician and software designer behind the Bitcoin protocol, and his struggles with both money and the English language are merely a ruse. His repeated insistence that he is not Satoshi Nakamoto is […]

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Mt.Gox resumes access to user database

Posted on March 18, 2014

In an update published yesterday on the Mt.Gox website, customers of the now-bankrupt exchange are now able to log in and view their account information. The interface appears to be a simple query system for the same database released by hackers earlier this month, and is currently limited to account balance information. Given the history […]

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Blockchain.info down due to database glitch

Posted on March 18, 2014

Through all of the turbulence around bitcoin in the last few months, the public block chain database at Blockchain.info has been a rare bastion of stability. Late last night, however, a user on Reddit encountered a glitch in the Blockchain Shared Coin service, which quickly caught the attention of Blockchain developers. In investigating the Shared […]

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Indonesia beta testing new exchange

Posted on March 17, 2014

As bitcoin adoption rages across China, other countries in southeast Asia are slowly wading into the cryptocurrency pool as well. Earlier this week, Bitcoin Indonesia announced that its homegrown exchange had grown to a daily volume of 30 BTC, six times its trading volume in December. While that volume is admittedly humble, Indonesia is also […]

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