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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 […]

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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, […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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