Report: Bitcoins more likely to be spent than hoarded

Posted on February 14, 2014

According to a recent infographic report in the MIT Technology Review, “hoarded” Bitcoins account for only a tiny fraction of the overall volume of the currency. The overwhelming majority of newly mined coins are spent within 24 hours, the report says, casting doubt on the relevance of the 2012 reports claiming that 78% of the […]

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Mt.Gox BTC values briefly scratch $300

Posted on February 14, 2014

Only yesterday, we reported about the growing disparity between the value of a Bitcoin on Mt.Gox versus that same Bitcoin on any other exchange. Today’s prices have only amplified this trend, with trades on Mt.Gox reaching a recent low of $302, even as the price hovered well above $600 on most of the other major […]

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Bitstamp announces withdrawals will resume today

Posted on February 14, 2014

Earlier this week, citing the massive DDoS attack on Bitcoin infrastructure, Bitstamp halted all withdrawals from customer accounts. That freeze on customer accounts appears to be ending, as Bitstamp recently announced via Twitter and their website that they’ll be resuming withdrawal processing later today. Speaking with CoinDesk, Bitstamp CEO Nejc Kodrič says his team has […]

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Man confronts Mt.Gox CEO Karpeles over frozen Bitcoin accounts

Posted on February 14, 2014

Inspired by the recent three-day “sit in” protest at the Mt.Gox offices by Australian Bitcoin activist CoinSeacher, Kolin Burges decided to take action as well. The London-based software developer moved his holdings in Litecoin to Mt.Gox at the end of last year, only to see his funds completely frozen earlier this month. Fed up with […]

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New Silk Road hacked for $2.6 million via Bitcoin glitch

Posted on February 14, 2014

The latest incarnation of Bitcoin black market site Silk Road had been hit by the same “transaction malleability” glitch that recently took down Mt.Gox and Bitstamp. A message from site administrator “Defcon” was leaked to Reddit yesterday outlining the issues on Silk Road. According to the email, no account information was hacked, and all of […]

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London’s first Bitcoin ATM shipping soon

Posted on February 13, 2014

According to a report from the International Business Times, London will soon be receiving its first Bitcoin ATM. Global Bitcoin ATM’s spokesperson claims that the machine is being updated with new software and going through compliance testing before shipping to the U.K. capital. Coindesk reports that London may soon see a boom of Bitcoin-trading ATMs […]

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What is Jed McCaleb’s “secret Bitcoin project”?

Posted on February 13, 2014

The Bitcoin press has been abuzz today with the recent call for alpha testers for a “secret Bitcoin project” created by Jed McCaleb. Why all the interest? McCaleb is best known as the creator of the Mt.Gox (which he sold to investor Mark Karpeles in 2011), and one of the innovators behind today’s Bitcoin and […]

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Is Mt.Gox “effectively dead”?

Posted on February 13, 2014

Not all that long ago, Mt.Gox was the center of the Bitcoin world. It was the first major exchange to handle the virtual currency, and the largest by volume until last year. After a year-long series of blunders and one massive recent catastrophe, however, the users are fleeing the site in droves. The tech press […]

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New York regulator Ben Lawsky weighs in on recent Bitcoin woes

Posted on February 13, 2014

Ben Lawsky from New York’s Department of Financial Services made headlines yesterday after outlining his state’s plan for regulating Bitcoin, but his other comments about the cryptocurrency that may be more interesting. Speaking at Future Tense in Washington, DC, Lawksy weighed in on the recent price drops caused by the “transaction malleability” glitch. “I think […]

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Mt.Gox Bitcoin value dips below $500

Posted on February 13, 2014

It’s been a bad week for Mt.Gox. Once the largest and best-known Bitcoin exchange, the Tokyo-based trading center has been besieged by complaints and criticism following the exposure of a weakness in their code that fails to properly compensate for the “transaction malleability” bug, first revealed in 2011. Shortly after that revelation, Mt.Gox suspended currency […]

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Reserve Bank of India softens stance on Bitcoin

Posted on February 12, 2014

Speaking at a technology conference in Mumbai yesterday, new Reserve Bank of India governor Raghuram Rajan spoke at length about Bitcoin’s future in India. While not altogether supportive of the cryptocurrency movement, Rajan’s presentation was far from the gloom and doom of RBI’s warning-laden Bitcoin statement in December. Rajan’s comments (reported by Techcrunch) were given […]

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Bitstamp becomes the latest victim in DDoS attack

Posted on February 12, 2014

Thanks to a prolonged distributed denial-of-service attack, Bitcoin exchange Bitstamp suspended withdrawals late Tuesday. The world’s third-largest Bitcoin exchange joins the long-troubled MtGox exchange in the fallout over the “transaction malleability” bug in the Bitcoin code. Speaking with Bloomberg News, Blockchain.info’s chief security officer Andreas Antonopoulos characterized the DDoS attacks as “a nuisance” aimed at […]

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New York regulator discusses “BitLicense” regulation plan

Posted on February 12, 2014

Benjamin Lawsky, superintendent of New York’s Department of Financial Services, gave details of his agency’s regulatory plan for Bitcoin transactions in the state. Speaking at the Future Tense conference in Washington, DC, Lawsky outlined the creation of a “BitLicense” for businesses using cryptocurrencies, making New York the first U.S. state to regulate the currency. “Our […]

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J.P. Morgan report bashes Bitcoin as “vastly inferior”

Posted on February 12, 2014

In a report released yesterday, J.P. Morgan’s head of foreign exchange strategy, John Normand, expressed a deeply critical view of Bitcoin and other digital currencies. The eight-page report examined the “risks and opportunities” of investment in cryptocurrencies, citing many significant concerns for large-scale bank investment. In particular, Normand believes that Bitcoin is “vastly inferior to […]

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Bitcoin mining profitability calculator android app

Posted on January 23, 2013

We are happy to announce the new bitcoin profitability calculator android app. It takes in your hash rate, cost of mining hardware, electicity rate, power consumption, time frame and fetches live the current difficulty, bitcoins per block and exchange rate (USD/BTC), and displays your net profit per time frame and more. Also it has a […]

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