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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Bitcoin price rally continues, edging closer to $600

Posted on May 26, 2014

It’s been a tough six months for bitcoin prices. Between the Mt.Gox drama in February and the ongoing “unofficial ban” in China, there have been few periods of relative stability for prices to stabilize or gain steam. An outside observer could even be forgiven for thinking that bitcoin’s promised rising tide of monetary revolution was […]

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More bitcoin lobbyists in DC? Falcon Global Capital takes aim at Congress

Posted on May 25, 2014

On Friday, DC-based news outlet The Hill reported that Falcon Global Capital (FGC) had filed lobbying registration paperwork. According to the filing, the firm plans for FGC founder and managing director Brett Stapper to act as the key lobbyist, focusing on issues related to “crypto-graphic based currency markets.” No other organizations are named in the […]

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Kenya’s BitPesa enters beta testing for bitcoin-based remittance service

Posted on May 24, 2014

It’s hardly a secret that Africa’s remittance fees are some of the highest in the world. In April, a report by the Overseas Development Institute (ODI) revealed that large money-transfer companies like Western Union were charging huge rates in some of Africa’s poorest nations, with average fees of around 12% for sending $200. The ODI […]

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Roger Ver turns tables on hacker by offering 37.6 BTC arrest bounty

Posted on May 23, 2014

If you’ve been involved with bitcoin for even a brief time, odds are you’ve at least heard the name Roger Ver. The venture capitalist has been involved in seed funding for some of the biggest names in the bitcoin industry — Kraken, Blockchain, Ripple and the Bitcoin Foundation, just to start — earning him the […]

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Report: Spain’s tax authority weighs in on bitcoin

Posted on May 23, 2014

Until this week, the Spanish government has kept its distance from bitcoin. With the rapid growth of interest in virtual currencies in Europe, and the recent explosion of bitcoin automated vending machines in Spain itself, it’s only natural that the country’s tax authority, the Agencia Estatal de Administración Tributaria (AEAT), has turned its gaze to […]

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BIP 70 protocol gains ground with Coinbase integration

Posted on May 23, 2014

If there is a single technical development likely to increase bitcoin’s mainstream appeal, it’s BIP 70. The protocol, introduced in the March 0.9.0 update of Bitcoin Core, is arguably the first major toolset for making the bitcoin experience user-friendly. Among other innovations, BIP 70 allows users to display their addresses in human-readable text rather than […]

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Major alt-coin Ripple crashes as co-founder announces 9 billion XRP dump

Posted on May 23, 2014

Although designed as a trustless payment network rather than as a true virtual currency, Ripple has been one of the best known and highest profile alt-coins for the last several years. The system’s native currency, ripples (XRP), have traded as high as $0.06 in recent memory, giving it a surprisingly high market cap for a […]

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Bitcoin Pizza Day: Is May 22 destined to become the first bitcoin holiday?

Posted on May 22, 2014

On May 18, 2010, a programmer in Jacksonville, Florida, named Laszlo Hanyecz was hungry. As a very early adopter of an experimental virtual currency called bitcoin, Hanyecz had also mined tens of thousands of the things. Surely there was someone out there in the digital void who might be willing to trade him a couple […]

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Canada’s Vault of Satoshi announces instant deposits, pre-paid debit cards and more

Posted on May 22, 2014

Canadian virtual currency exchange Vault of Satoshi (VoS) recently announced several major new services for its rapidly growing customer base. The announcement is the first of two major “Summer Update” announcements, with the second planned in the near future. VoS Director of Marketing Adam Cochran posted the announcements to several popular bitcoin forums, as well […]

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Noted bitcoin critic Peter Schiff now accepts bitcoin

Posted on May 22, 2014

In late 2013, as bitcoin prices were reaching their historical peak, noted commodity investor and radio show host Peter Schiff mockingly dismissed the growth in the virtual currency as “modern-day tulip mania.” Since then, Schiff has continued to be a vocal critic of bitcoin as an investment, claiming it to be poor competition for the […]

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Bitcoin rally continues as price surges above $500

Posted on May 22, 2014

For the first time since late April, the price of bitcoin has crossed the $500 dollar mark. Only two days ago, bitcoin was lingering in the same $420 to $450 range it had held for nearly four weeks, only to begin a dramatic climb on Tuesday. Unlike previous gains, there’s no obvious reason for increasing […]

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QuikBit and Lamassu ink deal to bring bitcoin AVM network to U.K.

Posted on May 21, 2014

Bitcoin machines might just be popping up like wildflowers all across the U.K. later this year thanks to a new deal between bitcoin ATM maker Lamassu and newly formed distributor QuikBit. Based in the self-governing British dependency of the Isle of Man, QuikBit aims to build a network of ATM-like automated vending machines (AVMs) across […]

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Circle CTO Sean Neville clarifies his company’s business model

Posted on May 21, 2014

Last week, much speculated-upon bitcoin startup Circle officially exited “stealth mode,” revealing for the first time what exactly the company’s business model is. As was generally expected, Circle’s plan is a variation on the concepts used by bitcoin service providers Coinbase and BitPay, facilitating payments and acting in many ways like a bitcoin bank. The […]

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Upscale Johannesburg barbershop to house Africa’s first bitcoin ATM

Posted on May 21, 2014

As bitcoin ATMs begin to pop up in major cities across the globe, one entire continent is still untouched: Africa. If ZABitcoinATM’s plans pan out, however, this should be changing later this month. The company’s Lamassu-made ATM is scheduled to arrive in Johannesburg, South Africa, by the end of the week, and will be set […]

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Update: Google Chrome team says KryptoKit takedown was a mistake, result of malware

Posted on May 21, 2014

Yesterday, Google’s Chrome team removed and automatically uninstalled popular browser-extension bitcoin wallet KryptoKit, leaving thousands of users without access to their bitcoins. Google cited vague “terms of service” violations as the cause, but otherwise provided no explanation for their actions. The developers quickly cried foul over the move, and within hours Google relented, restoring the […]

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After weeks in the doldrums, Bitcoin price jumps $50 in a matter of hours

Posted on May 20, 2014

After months of steeply declining prices in the wake of the Mt.Gox implosion and an increasingly restrictive environment in China, bitcoin prices have spent most of the last month hovering around $450. For many, this relative stability has been seen as a positive development, providing a window for new services to make plausible claims that […]

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Google shuts down popular Chrome-based wallet KryptoKit, only to reinstate it hours later

Posted on May 20, 2014

As the line between plugin-based web apps and dedicated desktop programs blur, browser-powered plugins have become increasingly popular. One of the best known and most trusted of these is a Chrome extension called KryptoKit, which works as both a bitcoin wallet and an encrypted messaging system. With over 6,100 users and a nearly 5-star rating, […]

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BitPay’s Stephen Pair claims Visa and Mastercard will “leverage” bitcoin rather than compete with it

Posted on May 20, 2014

Although it has been hailed by many as an disruptive alternative to today’s fee-prone banking and credit card systems, there is a growing realization in the mainstream financial world that bitcoin’s innovations may actually be the solution to some of those industries’ biggest problems. Speaking on CNBC yesterday, BitPay CTO Stephen Pair suggested that the […]

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Bitcoin Foundation board member-elect Brock Pierce responds to critics, refuses to step down

Posted on May 20, 2014

Shortly after the election of entrepreneur Brock Pierce to the board of the Bitcoin Foundation, members of the organization began a campaign to oust him. Citing Pierce’s controversial history with troubled dotcom-era startup Digital Entertainment Network, foundation member Patrick Alexander terminated his membership in protest. Alexander was shortly joined by another nine members, who also […]

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Bitcoin companies discuss regulatory concerns with Conference of State Bank Supervisors

Posted on May 19, 2014

Last week, the Conference of State Bank Supervisors (CSBS) hosted its Emerging Payments Task Force at a meeting in Chicago. The task force met with representatives from SecondMarket, CoinX, Xapo and BitPay to discuss the the current state of bitcoin regulation and its impact on the quickly growing virtual currency industry. Speaking with the CSBS […]

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Federal Reserve committee calls bitcoin a “boon” for commerce

Posted on May 19, 2014

Thus far, the Federal Reserve has had a hands-off approach to bitcoin, regularly citing its lack of jurisdiction over currency-like commodities and non-state backed currencies. But that doesn’t mean the Fed isn’t paying attention to bitcoin’s rapidly growing impact on domestic and global finance. At a meeting of the Fed’s Federal Advisory Council (FAC), the […]

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Accounting giant Intuit testing bitcoin payment service

Posted on May 19, 2014

For small businesses in the U.S., Intuit is easily as trusted a name as Google, Apple or Microsoft. The company has been at the cutting edge of digital accounting and tax preparation since the early ’80s, launching products such as Quicken, QuickBooks, Turbo Tax and Billing Manager. This week, Intuit revealed that it was testing […]

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Report: Huobi and OKCoin discuss bitcoin’s future in China

Posted on May 19, 2014

China’s six-month banking crackdown on bitcoin-related businesses has resulted in huge headaches for the entire cryptocurrency community. Due to the People’s Bank of China strangling of local bitcoin exchanges’ access to the country’s banking system, there is significant doubt about the future of bitcoin in mainland China. Many smaller exchanges, such as FXBTC, have already […]

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New open-source bitcoin ATM retails for $999

Posted on May 18, 2014

Dedicated bitcoin ATMs are at a crossroads. Even counting the first proof-of-concept working prototypes, the entire industry is less than a year old, with most of the “major” manufacturers having only a few dozen units in the field today. While orders are growing rapidly, so are prices. Robocoin and Lamassu are banking on a market […]

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Toshiba partners with BitPay for new point-of-sale system

Posted on May 17, 2014

Japanese electronics giant Toshiba has announced plans to integrate bitcoin payments into their VisualTouch point-of-sale system, partnering with Atlanta-based bitcoin payment processor BitPay. Although not one of the leading brand in the POS industry, VisualTouch is still a relatively popular payment platform. Toshiba claims that the system is used by over 6,000 clients in the […]

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Gavin Andresen warns of the dangers of rising bitcoin transaction fees

Posted on May 16, 2014

Chief Scientist of the Bitcoin Foundation and former lead developer on Bitcoin Core Gavin Andresen warned that transaction fees are likely to rise dramatically in coming months unless incentives are provided to miners. Speaking at Bitcoin2014 today in Amsterdam, Andresen said that steps must be taken to either ramp up the speed of block creation […]

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Report: Overstock CEO claims company looking into being listed on “a block chain kind of a stock exchange.”

Posted on May 16, 2014

Giving the keynote speech today at the Bitcoin2014 conference in the Netherlands, Overstock CEO Patrick Byrne announced that his company was looking into the possibility of dual-listing its stock on “a block chain kind of a stock exchange” in addition to the NASDAQ. Should Overstock follow up on this plan, the company would become the […]

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After months of speculation, Circle finally unveils its business model

Posted on May 16, 2014

In October of last year, tech entrepreneur Jeremy Allaire announced he would soon be launching a new bitcoin-related project called Circle. It was hailed by insiders as one of the biggest developments in the bitcoin to date, launching with over $9 million in venture capital investment. A few months later, another $17 million in VC […]

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Report: Is China blocking bitcoin websites?

Posted on May 16, 2014

BTC China CEO and Bitcoin Foundation board-member elect Bobby Lee thinks China may be blocking bitcoin-related sites. Speaking with CoinDesk today, Lee said that he’s hearing regular reports of users being unable to access websites such as Coinbase, Blockchain and BTC-e in otherwise normal browsing sessions. Lee reports that the “locking of these websites seems […]

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Bitcoin added to Dutch payment service Mollie, allows BTC purchases at 10,000 new merchants

Posted on May 15, 2014

Holland-based payment service Mollie is a major player in the Netherlands, Belgium and Luxembourg, with over 10,000 merchants on its roster. The company works with a wide variety of payment providers, including all major credit cards, PayPal and iDeal, allowing customers a huge range of options. Today, Mollie officially added bitcoin support to its list […]

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Bitcoin-friendly congressman has raised $1500 in BTC since FEC approval

Posted on May 15, 2014

Last week, the Federal Election Commission approved bitcoin for in-kind donations in political campaigns and political action committees (PACs). Not surprisingly, one of bitcoin’s biggest champions in D.C., Colorado Representative Jared Polis, began accepting BTC on his website almost immediately. Thus far, the contributions have been nothing to scoff at: 39 donators had sent Polis […]

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Report: U.S. District Judge approves prelimary Mt.Gox settlement

Posted on May 15, 2014

At a hearing in federal court yesterday, U.S. District Judge Gary Feinerman gave Sunlot Holdings and a collection of Mt.Gox creditors preliminary approval to move forward with a settlement plan for the defunct Tokyo-based bitcoin exchange. Under the agreement, Sunlot and its partners would acquire Mt.Gox’s debits and assets for a single bitcoin. The move […]

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CNET founder Halsey Minor announces new bitcoin payment service

Posted on May 15, 2014

Tech entrepreneur and investor Halsey Minor knows a thing or two about being ahead of the curve. In 1993, he founded one-time tech haven CNET, selling it to CBS 15 years later for $1.7 billion. He’s also a co-founder of Salesforce.com (currently valued between $15 and $35 billion) and the founder of venture capital firm […]

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Report: Customers of shuttered Chinese exchange FXBTC frustated by inability to withdraw funds

Posted on May 14, 2014

Earlier this month, Chinese bitcoin and litecoin exchange FXBTC announced it would be shutting down due to increased regulatory pressure from the People’s Bank of China. In an attempt to prevent customer losses from the inability to access its accounts, the exchange moved quickly and strongly urged all customers to withdraw their funds as soon […]

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Mac OS walletmakers Hive launch BIP 70-integrated Android wallet

Posted on May 14, 2014

In terms of mainstream adoption, the BIP 70 protocol is a big deal. Instead of requiring users and merchants to work with 34-character, randomly generated bitcoin addresses and long confirmation times, BIP 70 generates human-readable confirmation codes and vastly improves how confirmations are handled. Although the BIP 70 protocol was implemented in the Bitcoin Core […]

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