Another day, another $30 gain

Posted on May 31, 2014

Now approaching the end of its second week, bitcoin’s early summer rally has pushed prices back above $635, recovering more than half of it’s all-time high price of $1,200 seen in late 2013. Although rallies are nothing new for bitcoin, this is the longest sustained price growth seen since the “China bans bitcoin crash” rebound […]

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Report: Ignoring central bank’s warning, Argentina first bitcoin exchange moves forward

Posted on May 30, 2014

Earlier this week, Argentina’s central bank (BCRA) issed a stern warning about the risks of virtual currencies. Although this is a fairly typical attitude towards bitcoin and other cryptocurrencies from central banks across the world, in Argentina the context is different. Argentina’s peso has seen 100% inflation in the last year, and the massive and […]

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Mining hardware maker BitFury announces $20 million financing deal

Posted on May 30, 2014

San Francisco-based bitcoin mining hardware maker BitFury announced today that it had secured a new round of financing worth $20 million dollars. Investors in the new round included Binary Financial, Crypto Currency Partners, Georgian Co-Investment Fund (GCF), Queensbridge Venture Partners and ZAD Investment Company. Angel investors Bill Tai and Jonathan Teo were also involved in […]

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Coinbase’s $10 giveaway to college students results in 20,000 new bitcoin users in two weeks

Posted on May 30, 2014

Earlier this month, bitcoin services provider Coinbase announced a plan to give $10 worth of BTC to every college student opening a new account. Not surprisingly, giving away free money to college students sparked considerable interest on campuses across the nation, resulting in 20,000 student sign ups. Given the high cost of effective advertising in […]

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Bitcoin above $600 threshold for the first time since March

Posted on May 30, 2014

As bitcoin’s current rally heads into its 10th day, prices have skyrocketed up from yesterday’s $570 range to well above $600. Average prices have risen 34% from the previous month’s stagnant $440 range. Bitcoin prices haven’t been above the $600 threshold since March 21, as ongoing downward pressure from Chinese regulators and other factors pushed […]

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Report: Bitcoin ATM hints virtual currency still growing in China … quietly

Posted on May 29, 2014

In a report published today on the Wall Street Journal‘s MoneyBeat blog, reporter Michael Casey claims that bitcoin adoption is still growing in China, although those involved are being less boisterous about it. The article cites the recent launch of China’s first two-way Robocoin ATM in Beijing’s art district as a prime example. Although the […]

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Report: Dutch banks increasingly friendly to bitcoin business

Posted on May 29, 2014

In a report published today on Bloomberg, banking insiders in the Netherlands hinted at growing interest in working with bitcoin-based businesses. With a massive amount of global attention now directed at bitcoin-based payment systems, Dutch banks are becoming interested largely because their most innovative customers are. The report quoted a recent statement by Mark Buitenhek, […]

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Four months after major hack, Silk Road 2.0 says 80% of stolen BTC refunded to customers

Posted on May 29, 2014

In mid-February, Silk Road 2.0 reported that it had been hit by the same transaction malleability bug that may have played a role in the implosion at Mt.Gox. Insiders claimed that around 4,400 BTC (worth about $2.5 million today) had been stolen from the site’s hot wallet. Given that Silk Road 2.0 was a relatively […]

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Coinbase announces partnership with DISH network

Posted on May 29, 2014

Thanks to a new payment partnership with Coinbase, the DISH network now accepts bitcoin payments. With a reach of over fourteen million subscribers, DISH is one of the most recognized brands in the U.S. The direct-broadcast service provider’s satellite dishes are commonplace, particularly outside of metropolitan areas were cable and high-speed phone infrastructure isn’t profitable […]

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Coinbase unveils social-media friendly public payment pages

Posted on May 28, 2014

One of the first stumbling blocks for new bitcoin users is the address system. Although it’s a technically elegant result of the public/private key system, there’s something about a seemingly random string of dozens of letters and numbers that is inherently off-putting to an average person who just wants to try out this new digital […]

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BitPay claims it is now processing $1 million in bitcoin payments daily

Posted on May 28, 2014

As lofty as the bitcoin community’s planet-changing ambitions can be, the mainstream investment world is still focused on one thing: The bottom line. Trading volumes and prices can be manipulated; merchant acceptance and successful conferences can be little more than well-executed publicity. What counts, at least as far as Wall Street is concerned, is how […]

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Report: Facebook developer Ben Davenport joins BitGo

Posted on May 28, 2014

To call Ben Davenport a “software engineer,” as he’s been credited on Facebook since 2011, is more than a bit misleading. There’s no question that he’s a gifted developer, as he was part of the teams that developed Google AdSense and MSN Explorer, but he’s better known in bitcoin circles as one of the angel […]

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Mt.Gox parent company Tibanne to sell off “bitcoin” trademark and Bitcoins.com domain

Posted on May 28, 2014

Named after Mark Karpeles’s cat, Mt.Gox parent company Tibanne owned more than a shockingly insecure bitcoin exchange. The company also held the Japanese and European Union trademarks on the word “bitcoin,” as well as the now-quite-valuable bitcoins.com domain name. With all of Mt.Gox’s operations effectively dead, save for a sliver of hope by some that […]

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Bitstamp passes audit from Bitcoin developer Mike Hearn

Posted on May 27, 2014

Last week, Bitcoin developer Mike Hearn and Richard Muirhead of Firestartr subjected U.K.-based bitcoin exchange Bitstamp to a proof-of-reserve audit. Bitstamp is widely thought to be the largest bitcoin exchange in the world in terms of trading volume, and is under increasing scrutiny from investors to verify its deposits as bitcoin gains mainstream attention. According […]

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Proposed Mt.Gox plan slapped with objection by CoinLab

Posted on May 27, 2014

Long before Mt.Gox revealed that lost hundreds of millions of dollars in customer funds due to bad coding, security issues and negligence, the Tokyo-based exchange was involved in another high-profile case with Seattle-based virtual-currency startup CoinLab. With a proposed plan to settle most of Mt.Gox’s bankruptcy debits working its way through the international legal system, […]

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Overstock CEO Patrick Byrne claims bitcoin growing by 25% each month

Posted on May 27, 2014

Speaking on the Fox Business segment “Opening Bell”, Overstock.com CEO Patrick Byrne explained his long-term view for the virtual currency. During a discussion about the overall state of the online retail economy, host Maria Bartiromo asked Byrne “Where’s the money [in bitcoin]?” “Bitcoin is tiny at this point, but it’s growing about 25% a month,” […]

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Fidor Bank partners with bitcoin-payment processor BIPS

Posted on May 27, 2014

Online financial-services provider Fidor Bank announced a new partnership with European bitcoin payment processor BIPS, further increasing it’s “peer-to-peer banking” network. Earlier this month, Fidor announced it would be integrating the decentralized, “currency agnostic” trustless exchange system developed by Ripple Labs, but the BIPS partnership is the first true cryptocurrency connection for the Germany-based bank. […]

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SatoshiPoint launching three bitcoin ATMs in U.K. next week

Posted on May 26, 2014

The race to become the largest bitcoin ATM provider in Britain is heating up. Later this week, U.K.-based bitcoin startup SatoshiPoint will activate two new Robocoin ATMs in London. A third ATM is tentatively scheduled to be debuted on June 3rd in Bristol. The machines are currently connected to Bitstamp, and will charge a 5% […]

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Report: QuickCoin to launch Facebook integrated bitcoin wallet

Posted on May 26, 2014

Mainstream bitcoin adoption may be taking another step forward with the introduction of a Facebook-integrated bitcoin wallet app from San Francisco-based startup QuickCoin. The company’s “social wallet” system allows users to send and receive bitcoin easily, using Facebook’s popular API to remove any technological issues for users. Speaking with CoinDesk, QuickCoin co-founder Marshall Hayner explained […]

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Ripple Labs board member Jesse Powell resigns amid ongoing controversy

Posted on May 26, 2014

Last week, not-quite alt-coin Ripple found itself facing an existential crisis when co-founder Jed McCaleb revealed he was planning to sell off his 9 billion XRP stash. The announcement caused a dramatic XRP price crash, halving Ripple’s currency value in less than a 24 hours. McCaleb’s planned cash-out also hinted at deeper problems behind the […]

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