Did a runaway trading bot cause today’s $30 drop?

Posted on August 31, 2014

Automated trading is both a boon and a curse for exchanges of all kinds. On the one hand, “bots” greatly reduce the amount of time and attention needed to implement a trading strategy. A well-programmed bot can, in theory, be earning a profit on even marginal trades, 24-hours a day, and for completely logic-driven reasons […]

Read More...

Charlie Shrem reaches plea deal in bitcoin money-laundering case

Posted on August 30, 2014

Charlie Shrem may soon be a free man. Reuters reports that the former BitInstant CEO has reached a plea arrangement with federal prosecutors over his role in converting bitcoin to cash from deals on the now-shuttered black market website Silk Road. Shrem had been charged with a variety of felonies, including conspiracy to launder money, […]

Read More...

Publicly traded bitcoin company DigitalBTC claims $4 million in revenue in first quarterly report

Posted on August 29, 2014

Australia’s first publicly traded bitcoin mining and exchange company digitalBTC released a preliminary final yearly report today, revealing an estimated revenue of $4 million U.S. over three months of operations. The company’s normalized earnings were around $2.5 million for the same period, with a profit of about $600,000. Interestingly, digitalBTC actually reported a net loss […]

Read More...

Igot launches first bitcoin exchange in the UAE

Posted on August 29, 2014

The first bitcoin exchange in the United Arab Emirates (UAE) opened today, bringing a fully licensed digital currency commercial brokerage to Dubai. The exchange is a branch office of Australia-based bitcoin exchange igot, and is the first stage of a planned expansion into the Middle East and Asia. Although there will be a small staff […]

Read More...

China’s Huobi exchange passes proof-of-solvency audit with 103% fund reserves

Posted on August 29, 2014

The final member of China’s “big three” bitcoin exchanges has passed a proof-of-solvency audit with flying colors. In an independent audit published by Ripple Labs CTO Stefan Thomas, Huobi appears to have 103.52% of total customer deposits in reserve. Thomas provided the auditing service free of charge, as he did when auditing Kraken and Bitfinex […]

Read More...

Bitcoin pioneer Hal Finney dies at age 58

Posted on August 29, 2014

The very first bitcoin transaction, all the way back in January of 2009, was between the protocol’s mysterious inventor, Satoshi Nakamoto, and an avid programmer and cryptographer named Hal Finney. Hal Finney died yesterday after a five years battle with ALS. He was 58. Finney’s disease robbed him of nearly all control of his body, […]

Read More...

Tiny Caribbean nation of Dominica may become a bitcoin-business haven

Posted on August 28, 2014

Could the tiny island nation of Dominica, population 71,293, become the engine for bitcoin adoption on the Caribbean? If Coinapult and its partners have their way, that’s exactly what will happen in the Lesser Antilles tourist hotspot. The bitcoin payment processor will be distributing small amount of bitcoin (the exact amount is unannounced) to the […]

Read More...

Simon Fraser University launches bitcoin-donation program

Posted on August 28, 2014

Canada’s Simon Fraser University (SFU) announced a new bitcoin-donation program, making it the first post-secondary school in the country to directly work with digital currency. The program was launched with a BTC donation equivalent to $6,000 CAD from SFU alumnus Scott Nelson and Simon Fraser Bitcoin Club president Mike Yeung. Those initial funds will be […]

Read More...

OpenBazaar creators claim system will not become a “Super Silk Road”

Posted on August 28, 2014

There are few bitcoin-focused projects currently generating as much curiosity and buzz as OpenBazaar. Due to enter public beta testing this weekend, the open-source, decentralized marketplace aims to create a completely trustless, uncensored and impossible-to-close hub for trades and deals of all sorts. To many people, this claim instantly evokes one of bitcoin’s biggest PR […]

Read More...

BitPay joins Demandware’s LINK Technology platform

Posted on August 28, 2014

Atlanta-based bitcoin payment processor BitPay announced today that it has partnered with e-commerce service provider Demandware to bring simple digital currency integration options to a huge range of online stores. Although individual companies will still need to activate the new BitPay plugin via Demandware’s LINK Technology platform, the move will enable a host of major […]

Read More...

New study by Massachusetts Division of Banks reveals 18% of consumers “likely” to use bitcoin

Posted on August 27, 2014

In a new report published by the Massachusetts Division of Banks (MDB) and the Conference of State Bank Supervisors (CSBS), researchers found that 18% consumers in an online survey were either “likely” or “very likely” to use bitcoin or other digital currencies in the near future. The report, 2014 Consumer Survey: Consumer Attitudes on Bitcoin […]

Read More...

Responding to concerns, Coinbase reveals insurance details

Posted on August 27, 2014

As bitcoin becomes an increasingly mainstream mechanism for storing and exchanging value, customer protection is rapidly becoming a major topic of discussion. After all, there is no equivalent of the FDIC in the bitcoin world, and the only protections most users have for the BTC in their hosted wallets are the various security techniques of […]

Read More...

Australian government publishes guidelines for bitcoin businesses

Posted on August 27, 2014

Business.gov.au is the Australian government’s official portal for all forms of business in the country down under. It’s the definitive source for details on starting a new business in kangaroo country, providing guides and FAQs for nearly any business-related topic imaginable. This week, the website published its first guide to accepting bitcoin and other digital […]

Read More...

BTC China claims 100% proof-of-reserve status following audit

Posted on August 27, 2014

Another of China’s “big three” bitcoin exchanges has seemingly passed a proof-of-reserve audit with flying colors. BTC China announced the results of their audit on Monday, although translations of the full text have only recently become available in English. The audit was verified by a panel of five well-known Chinese bitcoin advocates, who checked BTC […]

Read More...

North Carolina to tie virtual currencies to “monetary value” under existing laws, rather than create new regulations

Posted on August 26, 2014

In a story published today on CoinFinance, an unnamed North Carolina Commission of Banks (NCCOB) spokesperson said that regulators in the state were opting to handle bitcoin-based investments and businesses under existing rules. The NCCOB will treat bitcoin and other cryptocurrencies as “monetary value,” as defined in the N.C. Money Transmitters Act. Under those rules, […]

Read More...

GoCoin partners with payments company Apriva

Posted on August 26, 2014

Arizona-based wireless point-of-sale technology company Apriva announced today that it has partnered with Singapore-based cryptocurrency payment processor GoCoin, bringing bitcoin, litecoin and dogecoin payments to their network of over 1,000 merchant partners. The move follows GoCoin’s recent launch of an SMS-based digital currency payment gateway and a new partnership with low-cost, prepaid phone service provider […]

Read More...

Korean bitcoin exchange Korbit raises $3 million in new funding round

Posted on August 26, 2014

South Korean bitcoin exchange Korbit announced this week that it has joined the ranks of multimillion-dollar bitcoin startup club, gaining $3 million in venture capital in a Series A funding round. The exchange has already received $600,000 in angel and VC investment, bringing its total funding to date to $3.6 million. The most recent round […]

Read More...

Newegg expands BTC buying option to Canada

Posted on August 26, 2014

Online tech retailer Newegg announced today that it will be bringing its popular pay-by-bitcoin option to customers in Canada. The company integrated BitPay’s payment platform to their U.S. checkout system in July, becoming the then-largest online store to accept digital currency. (This status was short lived, as Dell, DISH and Expedia adopted bitcoin payments in […]

Read More...

Bullion dealer Agora Commodities plans to launch cryptocurrency exchange

Posted on August 25, 2014

In a new CoinDesk profile of bitcoin-friendly precious metals retailer Agora Commodities, the credit-card eschewing bullion company dropped an interesting detail about their future plans. Agora founder Joseph Castillo told the website that his company is in the process of preparing to open a new digital currency exchange. Although there was no stated timeline for […]

Read More...

Chamber of Digital Commerce forms political action committee to steer Washington’s bitcoin position

Posted on August 25, 2014

The Hill reported today that the recently formed bitcoin-business advocacy group the Chamber of Digital Commerce has formally registered a new political spending group with the Federal Election Commission. Chamber CEO Perianne Boring, a former White House intern and legislative analyst for Rep. Dennis Ross (R-FL), told The Hill that the political action committee (PAC) […]

Read More...

Mycelium Entropy USB stick rockets past crowdfunding goal

Posted on August 25, 2014

Last month, cryptocurrency wallet-software provider Mycelium introduced Entropy, an open-source, multi-signature enabled USB-stick based paper wallet generator. The company had already tested a limited batch of the devices in a closed beta, and was taking to popular crowd-funding website Indiegogo to raise the $20,000 needed to produce the second batch on a more commercial scale. […]

Read More...

BitGive Foundation becomes first tax-exempt bitcoin charity in U.S.

Posted on August 25, 2014

The BitGive Foundation announced today that it has been officially granted 501(c)(3) status from the IRS, making it the first tax-exempt bitcoin charity in the U.S. The organization is now able to provide a tax deduction to donors, including those who donate directly in BTC, greatly enhancing the potential for fundraising. With their new tax […]

Read More...

BitPay exec sees major European merchant adoption “soon”

Posted on August 24, 2014

Here in the U.S., major businesses like Overstock, TigerDirect, Expedia and DISH are happily adopting bitcoin. While it could be argued that this first-wave adoption is more about free publicity than it is about the future of payments, it does beg a question: If bitcoin is a global phenomenon, why are all the major merchant […]

Read More...

ESPN paid in BTC for BitPay sponsorship

Posted on August 23, 2014

At a press conference about the upcoming Bitcoin St. Petersburg Bowl in St. Petersburg, FL, BitPay executive chairman Tony Gallippi revealed an interesting detail about the company’s sponsorship deal with ESPN Events: The payment was made in BTC rather than dollars. While not entirely surprising given that BitPay is a bitcoin payment processor, and the […]

Read More...

First bitcoin ATM launched in Manhattan

Posted on August 22, 2014

It may seem strange, but while bitcoin ATMs are popping up all over London, Canada, Southeast Asia, Africa and other far-flung locales, the city that arguably serves as the financial capital of the world, New York City, didn’t have one. Until today, that is. TechCrunch reports that the first bitcoin ATM in NYC has launched […]

Read More...

Cryptocurrency-based cloud-storage platform Storj raises 910 BTC in crowdsale

Posted on August 22, 2014

Distributed data storage service Storj announced the results of its first crowdfunding effort this week. The company raised 910 BTC in its first round, which ran from July 18 to Aug. 18, bringing in the equivalent of $470,200. Storj has a long-term funding goal of 9,800 BTC ($5 million). In a post-crowdsale report on Storj’s […]

Read More...

China’s OKCoin passes audit with 104.86% of customer BTC in reserve

Posted on August 22, 2014

Chinese bitcoin exchange OKCoin have announced the results of their recent audit, revealing that the exchange holds 104% of the BTC needed to all cover customer deposits. The audit was conducted over four days by Ripple Labs CTO Stefan Thomas, who performed similar audits for Kraken and BitFinex earlier this year. OKCoin announced the results […]

Read More...

Ross Ulbricht faces new narcotics charges in Silk Road case

Posted on August 22, 2014

Prosecutors have added three new charges to the case against Ross Ulbricht, the man the Feds believe to be “Dread Pirate Roberts,” the mastermind behind the now-closed online black marketplace Silk Road. Ulbricht, 30, will now face additional charges of narcotics trafficking, distribution of narcotics by means of the internet, and conspiracy to traffic in […]

Read More...

International mail-forwarding company Shipito adds bitcoin payment option

Posted on August 21, 2014

International shipping logistics is a tricky game to master. While many in the U.S. take the ease and relatively low costs of ordering online for granted, customers in more far-flung countries don’t have it so lucky. In the best case, they pay a hefty premium for having their order shipped internationally, and in many cases […]

Read More...

Second state-approved Thai bitcoin exchange suggests reversal on “bitcoin ban”

Posted on August 21, 2014

The Bangkok Post reported this week that Thailand’s business authorities have officially registered bitcoin exchange Coins Co., making the company a fully legal e-commerce company in the country. The move strongly suggests that the seemingly hostile attitude towards digital currency seen earlier this year from Thai authorities, including a statement from the Bank of Thailand […]

Read More...

NYDFS extends comment period on proposed BitLicense regulations

Posted on August 21, 2014

The New York Department of Financial Services (NYDFS) has extended the public comment period around their proposed “BitLicense” regulation for digital currency-related businesses operating in the state’s jurisdiction. In an update published today to the NYDFS website, the regulatory agency said that the extension came in response to a “significant amount of public interest in […]

Read More...

With 40% of customer payments in BTC, online bullion seller Amagi Metals to go bitcoin-only on 2016

Posted on August 21, 2014

Last week, online precious metals retailer Amagi Metals announced that it will no longer be directly accepting U.S. dollars for purchases of bullion and coins. The move will not take effect immediately, with dollar-backed purchases enabled through the end of 2016. Amagi is often cited among the first generation of bitcoin-accepting merchants, adopting a bitcoin-purchasing […]

Read More...

Overstock confirms Sept. 1 launch of international bitcoin buying option

Posted on August 20, 2014

After months of speculation, Overstock.com CEO Patrick Byrne confirmed yesterday that his company will be enabling buy-with-bitcoin options on their international site, O.co, starting Sept. 1. Although the move was known to be the works since July, the date of the bitcoin-buying service expansion wasn’t known beyond a general “within a few months” estimate. The […]

Read More...

Judge says bitcoin “clearly qualifies as money” in case against accused money launderer Robert Faiella

Posted on August 20, 2014

In January, Federal prosecutors charged Robert Faiella and Charlie Shrem with a scheme to launder more than $1 million in drug money through now-shuttered online black marketplace Silk Road. A significant portion of case hinges on the idea that Faiella and Shrem were operating an unlicensed money-transmitting business, even though that transmission largely took place […]

Read More...

Return to status quo as bitcoin mining difficulty increases in the double digits

Posted on August 20, 2014

Since July 12, bitcoin miners have had a much-needed break from the relentless growth in the mining difficulty. As one of the key metrics determining just how profitable a mining operation is, and a relative measure of how much competition there is to solve the next block in the block chain and gain a 25 […]

Read More...

Chain raises $9.5 million for block chain API development

Posted on August 20, 2014

San Fransisco-based bitcoin development house Chain is already well ahead of the curve when it comes to raising venture capital. In January, the startup raised $4.2 million to further develop its API for bitcoin’s block chain, enabling a new suite of mobile apps to quickly and easily interact with the cryptocurrency network’s data. Clearly, investors […]

Read More...

IRS-compliant bitcoin accounting program LibraTax nearing beta launch

Posted on August 19, 2014

If there is a single issue slowing mainstream business adoption of bitcoin, it’s the still-tricky problem of accounting. Although the IRS has offered some guidance on how bitcoin should be treated, and Intuit Labs has made some headway in bitcoin invoicing, there is still no one-stop solution for fully integrating bitcoin payments into their tax […]

Read More...

Electronic Transactions Association CEO says payments industry thawing icy attitude towards bitcoin

Posted on August 19, 2014

In an interview published today by CoinDesk, Electronic Transactions Association (ETA) CEO Jason Oxman said that the global payments industry may be warming its icy attitude towards bitcoin. Oxman cited the recent partnership agreement between Global Payments and BitPay as a good indicator that the tone of the conversation towards bitcoin is changing for traditional […]

Read More...

Singapore’s BitX secures $800k in venture capital funding for emerging market expansion plans

Posted on August 19, 2014

Venture capitalists and angel investors are betting big on bitcoin’s appeal in emerging-market economies, a trend only reinforced by BitX’s latest fundraising announcement. The Singapore-based bitcoin services provider revealed today that it has raised $824,000 in a seed-funding round. Investors include London-based Ariadne Capital and Palo Alto-based investor Carol Realini, as well seemingly ubiquitous bitcoin-backer […]

Read More...

Bitcoin hashrate crosses 200 PH/s … and still climbing

Posted on August 19, 2014

Strange things are afoot in the bitcoin mining world. The overall hashrate of the network made a gigantic leap today, climbing from an already impressive 171 petahashes per second to an incredible 206 petahashes per second in a matter of hours. For perspective, bitcoin only crossed the 1 PH/s threshold in September of 2013. Put […]

Read More...

Russian social media tycoon launches block chain visualizer BlockTrail

Posted on August 18, 2014

As one of the co-founders of Russian social media hub VK (formerly VKontakte), Lev Leviev knows a thing or two about turning a solid tech idea into a money-making enterprise. VK is now the second-largest social networking site in Europe, second only to Facebook, and is generally placed in the top 20 most popular websites […]

Read More...

$309 BTC-e flash crash adds to bitcoin margin-trading concerns

Posted on August 18, 2014

Last week, for still-unclear reasons, bitcoin’s price dropped dramatically. In the days since, blame for the “flash crash” has fallen squarely on the relatively new phenomenon of cryptocurrency derivatives, and on margin trading in particular. Adding further fuel to that argument was what happened after the crash: Bitcoin’s price began to steadily climb back to […]

Read More...

Blockchain explorer Blockr.io acquired by Coinbase

Posted on August 18, 2014

Coinbase announced today that they have acquired up-and-coming blockchain explorer Blockr.io. The deal with the Slovenian company has seemingly been in the works for some time, as Blockr.io engineer Sašo Matejina and designer Samo Drole have already relocated to Coinbase’s hometown of San Francisco. The acquisition brings Coinbase’s team up to 40 full-time employees. Although […]

Read More...

Bitcoin-focused security firm Wiz Technologies may be on the verge of cracking Mt.Gox heist

Posted on August 18, 2014

The collapse of Mt.Gox still looms large in the bitcoin world. In a matter of weeks, the once-iconic Tokyo-based exchange crumbled amid vague and as-yet unsubstantiated claims of hacking. Not surprisingly, many have since come to suspect that there’s more to the Mt.Gox story than has been revealed. Without access to the company’s internal database, […]

Read More...

Kraken to launch Japanese exchange

Posted on August 17, 2014

San Francisco-based cryptocurrency exchange Kraken is no stranger to the international bitcoin market. Although the company is based in the U.S., the exchange doesn’t do much business in dollars, preferring instead to avoid the finicky, risk-averse, account-closure prone American banking system as much as possible. While most of its business is in euros, Kraken’s founder […]

Read More...

GoCoin launches SMS-based bitcoin payments

Posted on August 16, 2014

Earlier this week, cryptocurrency-based payment system GoCoin launched a new payment system allowing merchants to initiate digital currency payments via SMS or email. The “Click-to-Bill” system, outlined in an article on CoinDesk, is currently aimed at the pre-paid phone market, and will allow customers to easily top-up bitcoin, litecoin and dogecoin-connected accounts without the need […]

Read More...

Ripple Labs strikes deal with co-founder Jed McCaleb to prevent massive selloff of XRP

Posted on August 15, 2014

In May, Ripple Labs co-founder Jed McCaleb announced that he was planning to sell off his holdings of XRP after a seemingly acrimonious split from the company. As one of the founders of the Ripple project, McCaleb owns 9 billion XRP, or nearly 9% of the total supply of Ripple’s currency tokens. The announcement sent […]

Read More...

Coinbase announces three new merchant partners

Posted on August 15, 2014

In a new post on the company’s blog, Coinbase announced three new partners for their merchant platform: Xsolla, Terminal and Demand Food. While not as high-profile as DISH or 1-800-Flowers, all three companies have major presences in the respective market niches and suggest a rapidly growing trend of bitcoin merchant adoption in regional and mid-sized […]

Read More...

PetaMine backs out of plan to switch to P2Pool, sticks with GHash.io

Posted on August 15, 2014

Shortly after bitcoin-mining megapool GHash.io caused panic across the cryptocurrency community by briefly gaining 51% of the total bitcoin network hashing power, several smaller mining collectives decided it was time to investigate alternatives. Mid-sized, shareholder-owned mining collective PetaMine was one of those groups, deciding in a much-discussed vote to point their miners away from the […]

Read More...

eBay-owned payment system Braintree “in talks” to accept bitcoin

Posted on August 15, 2014

Mechant-focused online payment gateway Braintree may soon become the first eBay-owned product to experiment with bitcoin payments. The Wall Street journal reported yesterday that Braintree was “in talks” with Coinbase and other bitcoin payment processors to launch a new digital currency payment option. Should a deal be reached, the impact on the bitcoin ecosystem could […]

Read More...

Head of Singapore’s central bank says digital currencies present risks, but also “have a role to play”

Posted on August 14, 2014

In recent interview with trade publication CentralBanking.com, Monetary Authority of Singapore (MAS) Managing Director Ravi Menon addressed an issue that is rapidly becoming a very hot topic in the regulation world: Digital currency. As Singapore’s central bank, the MAS has a great deal of power over how any financial instrument is used in the country, […]

Read More...

DISH offically launches bitcoin payments

Posted on August 14, 2014

In May, Dish Network made headlines across the tech media for becoming the largest company to date to adopt bitcoin payments. The announcement did come with a caveat: Although the company’s partnership with Coinbase was formalized, actual payment integration wasn’t expected for several months as DISH worked out the kinks in the new system. After […]

Read More...

BitPay’s new hires suggest major mainstream push in the works

Posted on August 14, 2014

TechCrunch reports today that Atlanta-based bitcoin payment processor BitPay is finally putting some of their $30 million venture capital cash to work. The company has hired three new heavy hitters to fill out its ranks, suggesting that a major expansion is in the works. The new hires are notable for their significant payments industry experience. […]

Read More...

Is today’s price crash solely the result of a new bitcoin derivates market?

Posted on August 14, 2014

While most of the Western bitcoin trading world was asleep this morning, the bitcoin market was inexplicably crashing. Around 3 a.m. EST, a series of largely automated events on BitFinex caused the price to collapse from the $525 range to a staggering $451. While the drop lasted for a matter of seconds, the price has […]

Read More...

Circle CEO Jeremy Allaire says that proposed BitLicense will force company to block service in NY

Posted on August 13, 2014

As the public comment period for the proposed New York Department of Financial Services (NYDFS) “BitLicense” draws to a close, the bitcoin community is segregating into two broad camps. On one side are the privacy-minded, regulation-resistant types who are generally skeptical of the need for government oversight of an exchange system that was specifically designed […]

Read More...
  1. Pages:
  2. 1
  3. 2