With less than 9 hours left, Bitcoins.com pre-auction has yet to break reserve price

Posted on July 23, 2014

There are few domain names in the cryptocurrency world more promising for an SEO-savvy marketer than Bitcoins.com. Currently owned by Mt.Gox parent company Tibanne, Bitcoins.com has the potential to be a flagship site in the digital currency community. When it was announced earlier this month that the domain would be auctioned off, many analysts predicted […]

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Ecuador’s Congress proposes state-controlled digital currency monopoloy

Posted on July 23, 2014

On Thursday, Ecuador’s Congress will vote on a proposal to create a state-controlled digital currency, and to prohibit the use of any digital currency in the country not backed by the nation’s central bank. Regional news outlet PanAm Post reports that the move was presented by President Rafael Correa as “a matter of urgency,” although […]

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Mt.Gox creditors meeting provides little news

Posted on July 23, 2014

A closed-door meeting of Mt.Gox customers and other creditors held today in Tokyo provided little solace to those who lost their funds on the shuttered bitcoin exchange. The meeting provided those burned by the exchange their first face-to-face interaction with Mt.Gox CEO Mark Karpeles, who gave a brief apology for the situation but otherwise left […]

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New Japanese bitcoin exchange planned by former Goldman Sachs trader

Posted on July 22, 2014

In the nearly six months since Mt.Gox imploded, two major things have happened to the bitcoin community in Japan. The first is that Japan’s population became aware of bitcoin in a very big way, as coverage of the failed exchange and the $500 million loss became headline news in a country that had previously seen […]

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Report: Bitcoin-ransoming hacktivist group w0rm claims to have Wall Street Journal and Vice databases

Posted on July 22, 2014

In most situations, the news that a group of Russian hackers broke through the security of two major websites and downloaded massive user databases would cause significant panic. Most users, ambivalent about online security best practices, will reuse user names and passwords tied to their email accounts, meaning that a user database could be a […]

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Report: iOS messaging service Gliph restores bitcoin functionality

Posted on July 22, 2014

Late last year, secure private messaging app Gliph was forced to remove a bitcoin-sending feature in order to remain available on the iTunes app store. The move was highly unpopular in the bitcoin community, and added to speculation that Apple was becoming openly hostile to all services related to bitcoin. Recently, Apple updated its terms […]

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WinkDex launches developer API

Posted on July 22, 2014

In another sign that the Winklevoss Bitcoin Trust is marching steadily towards Securities and Exchange Commission approval, the trust’s proprietary index, the WinkDex, officially opened its API to developers today. The WinkDex is a blended index created specifically for pricing the Winklevoss twins’ exchange traded fund for would-be investors. The API has been available to […]

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Report: Chamber of Digital Commerce to advocate for bitcoin regulation

Posted on July 21, 2014

Speaking at the North American Bitcoin Conference (NABC) on Satuday, Forbes columnist and former congressional staffer Perianne Boring announced plans to create a “Chamber of Digital Commerce” to advocate for sensible bitcoin regulations at the federal level. The move follows the initiation of pro-cryptocurrency lobbying efforts by Falcon Global Capital in May, and a more […]

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Report: After spirited auction, “Last Bitc0in Supper” sells for $2,900

Posted on July 21, 2014

As part of today’s global cultural zeitgeist, it’s hardly surprising that bitcoin and the ideas behind it has become a hot topic in the art world. Cryptocurrency has inspired entire gallery shows, as well as some poignant individual works by artists from around the world. One of those works, “Last Bitc0in Supper” by the French […]

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BTC China adds USD and HKD deposits and withdrawals

Posted on July 21, 2014

Major Chinese bitcoin and litecoin exchange BTC China announced today that they have added support for U.S. dollars (USD) and Hong Kong dollars (HKD) to their trading platform. The new system, currently undergoing an invite-only beta test, allows for deposits and withdrawals in both currencies under “international accounts,” while domestic accounts will be limited to […]

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BitPay to sponsor Georgia Tech Athletics

Posted on July 21, 2014

It’s hardly surprising that when Atlanta-based bitcoin payment processor BitPay decided it was time to spend a little money on awareness-raising sponsorship deals, they would start in their own backyard. The company announced yesterday that it had entered into a sponsorship deal with the Georgia Institute of Technology’s Athletic Association, aiming to bring bitcoin awareness […]

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Report: China’s OKCoin to support USD

Posted on July 20, 2014

Broadly speaking, the bitcoin exchange world is divided into two camps: Those who deal in U.S. dollars, and those who deal in Chinese yuan (renminbi). Sure, there are exchanges that focus on Canadian dollars, Euros, Thai baht and almost every local currency, but the bulk of bitcoin’s trade volume is still dominated by USD and […]

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Mobile Wallet App Round-Up: Blockchain, Chain iOS and Hive

Posted on July 19, 2014

When bitcoin’s battle for mass adoption and marketshare against credit cards and cash happens, the skirmishes won’t take place on notebooks and desktops, it will take place in the brick and mortar world with mobile apps. One sign that this seemingly inevitable event it drawing closer is the booming ecosystem of mobile wallet apps. Now […]

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Report: RingPlus becomes first domestic cellphone provider to accept bitcoin, litecoin and dogecoin

Posted on July 18, 2014

If you don’t live in Los Angeles, New York or San Francisco, you’ve probably never heard of RingPlus. In the world of cellphone service providers, however, RingPlus is arguably one of the most experimental companies operating today. In addition to providing a range of ultra-low-cost plans, the company has even created a free, ad-supported system […]

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Is Snapchat planning on using digital currency as part of its monetization plan?

Posted on July 18, 2014

TechCrunch reports today that photo-messaging app Snapchat has filed two online trademarks for peer-to-peer payments. Although the filings don’t mention bitcoin or cryptocurrency, they do outline a plan to provide electronic funds transfers in very broad terms. The two trademarks consist of “application software for processing electronic payments” and a system of “electronic transfer of […]

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BitPay launches Facebook bitcoin payment app

Posted on July 18, 2014

One of the holy grails of digital currency is the ability to break down traditional payment barriers. An app that can send bitcoin to almost anyone in the world as easily as sharing a photo could be a complete game-changer for the entire financial sector. While BitPay’s new Facebook app, Get Bits, isn’t quite that, […]

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Dell announces Coinbase partnership

Posted on July 18, 2014

Dell is one of the true giants of the technology world, bringing in nearly $57 billion in revenue last year. It’s a true multinational business behemoth, and could be comfortably mentioned in the same breath as major players like Apple, IBM and Sony. As of today, Dell is also the single largest company to accept […]

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CheapAir crosses $1.5 million in bitcoin sales

Posted on July 17, 2014

Late last year, online discount travel agency CheapAir.com made waves in the bitcoin world when it announced it would begin experimenting with bitcoin. The company’s partnership with Coinbase makes it one of the first major supporters of bitcoin payments, anticipating later moves by TigerDirect, Overstock and Expedia. That early adoption appears has paid off. On […]

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Two major South African companies announce bitcoin payment options

Posted on July 17, 2014

This morning, South African payment processor PayFast announced it would soon offer bitcoin was a payment option for its 30,000 merchant customers. As one of the largest payment companies in Africa, PayFast’s move has given a huge boost to bitcoin’s credibility in the region, where it is still viewed with extreme skepticism by the government […]

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After customer backlash, Vault of Satoshi eliminates “selfie” requirement

Posted on July 17, 2014

In an attempt to halt a flood of fraudulent transactions from the Interac payment system, Canadian digital currency exchange Vault of Satoshi (VoS) announced yesterday that it would be adding another layer to its customer-verification process. The concept was simple: Take a selfie while holding up a hand-written note and a government-issued ID. According to […]

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New York Department of Financial Services releases “BitLicense” rules draft

Posted on July 17, 2014

The New York Department of Financial Services (NYDFN) published the draft version of their regulatory framework for bitcoin and other digital currencies this morning. The “BitLicense” rules are aimed largely at digital currency service providers, such as exchanges and hosted wallet companies, and would effectively exempt any company using a third-party bitcoin payment service from […]

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Report: GHash commits to a 40% hashrate cap

Posted on July 16, 2014

In June, behemoth bitcoin-mining pool GHash.io briefly gained more than half of the total network hashrate, a move that caused many to question just how secure bitcoin’s much-touted decentralized network really was. The situation was a wake-up call for many, as it meant that the long-hypothesized “51% attack” wasn’t as implausible as many experts had […]

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Trucoin launches instant bitcoin buying

Posted on July 16, 2014

One of the biggest complaints about the current bitcoin ecosystem is the awkward, slow process of actually buying BTC. Even when using a mainstream service like Coinbase, bank accounts must be validated, IDs must be confirmed and transactions must use the tedious bank-transfer system. While there have been some innovations, such as bitcoin ATMs, the […]

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Report: Elliptic raises $2 million in seed funding

Posted on July 16, 2014

Bitcoin “vault” provider Elliptic announced today that it has secured £1.2 million ($2 million) in a seed funding round led by Octopus Investments. The U.K.-based company is best known for its “enterprise-grade insured storage” of bitcoin, meeting the standards required for institutional-level investments. The investment marks the first major injection of bitcoin-focused venture capital funds […]

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TradeBlock raises $2.8 Million in seed funding

Posted on July 16, 2014

Cryptocurrency analytics and data provider TradeBlock announced today that it had secured $2.8 million in seed-round funds. Investors include many of the usual suspects, such as Andreessen Horowitz, FinTech Collective and Second Market’s Barry Silbert. The company’s founders describe it as “the Bloomberg of bitcoin,” an elevator pitch that appears to have been developed during […]

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Report: BTCJam and Digital Mining Investments lose nearly $200,000 to alleged scam artist

Posted on July 15, 2014

In a report published today on CoinDesk, a former employee of Tampa-based bitcoin mining operation Digital Mining Investments (DMI) allegedly stole over $165,000 in mining hardware and another 55 BTC ($35,000)in donations from popular bitcoin lending site BTCJam. The company claims that the man, using the assumed name Jon Simms, spent months building up trust […]

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BitOcean and Atlas ATS announce bid to buy Mt.Gox assets

Posted on July 15, 2014

As the burned-out husk of Mt.Gox winds its way through the Japanese bankruptcy system, a new partnership between Chinese ATM maker BitOcean and New York-based exchange-platform provider Atlas ATS will soon be vying for its assets. The company, BitOcean Japan, was profiled by the Wall Street Journal yesterday. According to the story, the partnership has […]

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Report: CEO of Japanese online retail giant Rakuten says company will accept bitcoin “sooner or later”

Posted on July 15, 2014

In a speech published by Japanese newspaper Mainichi Shimbun, Rakuten CEO Hiroshi Mikitani mentioned his company’s likely integration of bitcoin payments later this year. Speaking to a meeting of Rakuten Ichiba (Rakuten Marketplace) e-commerce merchant partners, Mikitani said that the “internet revolution” was accelerating, and that Rakuten will “sooner or later” start accepting bitcoin. According […]

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E-commerce platform Shopify launches full Coinbase integration

Posted on July 15, 2014

Shopify is one of the giants of the e-commerce world, enabling easy-to-implement shopping carts for over 100,000 websites. If you’ve ever ordered merchandise directly from the website of a band, sports team or popular website, odds are that their store was powered by Shopify. Starting today, all of those online stores will be able to […]

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Report: Shady cash-for-coverage policies plague bitcoin news sites

Posted on July 14, 2014

How trustworthy are most bitcoin-focused media outlets? According to a “sting” operation conducted by tech reporter Tom Butterfield, not very. Curious about the journalistic ethics at work in this rapidly growing field, Butterfield decided to see which cryptocurrency news outlets would be more than happy to sacrifice their journalistic ethics for a fee. The trap […]

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BitFury announces seed-investment fund

Posted on July 14, 2014

In a short press release published over the weekend, bitcoin mining hardware maker BitFury announced the launch of a new venture capital fund to provide cryptocurrency startups with much-needed seed money. Dubbed BitFury Capital, the fund will “accelerate other parts of the [bitcoin] ecosystem through strategic partnerships, and expansion into adjacent business opportunities.” In addition […]

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Report: OKCoin and Huobi plan to offer bank-like services

Posted on July 14, 2014

It’s no surprise that cryptocurrency exchanges OKCoin and Huobi managed to recover after the slaughter of China’s “bitcoin ban” earlier this year. While other exchanges were complying with the rules established by the People’s Bank of China (PBoC), and hoping that the still-tiny bitcoin industry would fly under the regulators authority, OKCoin and Huobi were […]

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Mining difficulty increases by 3%, lowest since early 2013

Posted on July 14, 2014

Ask any bitcoin miner about the constant grind of mining difficulty increases, and you’ll rarely hear anything positive. From the miners’ perspective, a rapidly rising difficulty doesn’t mean that the network is growing healthily and becoming more secure, it means that their already thin profit margins will be taking another hit. A single, double-digit jump […]

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Bitcoiner hiding pre-loaded BTC cards around San Francisco

Posted on July 13, 2014

On July 1, a mysterious Twitter user named SF Hidden Bitcoin began a month-long campaign of hiding pre-loaded bitcoin wallets in seemingly random locations across San Francisco. Etched onto thin sheets of black-painted aluminum, the durable wallets bear QR codes linked to private keys with roughly $20 (0.0333 BTC) in the address. The location of […]

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Congressional candidate Dan Elder vows to only accept bitcoin in coming election

Posted on July 12, 2014

In May, the Federal Election Commission (FEC) voted to approve bitcoin donations under the existing statutes for in-kind campaign contributions, opening the door for the use of cryptocurrency as a political tool. Thus far, however, most politicians have viewed bitcoin contributions in much the same way businesses have: A novel way to gain some media […]

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X-Prize founder Peter Diamandis on bitcoin: “You do the math”

Posted on July 11, 2014

Peter Diamandis may be best known as the creator of the X-Prize Foundation, but the MIT and Harvard educated entrepreneur has recently been making a name for himself as a bitcoin advocate. While participating in a Reddit Ask Me Anything (AMA) today, Diamandis plainly stated his view on bitcoin’s future. Responding to a user’s question […]

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Grooveshark launches bitcoin payment option

Posted on July 11, 2014

Music-streaming service Grooveshark announced via email today that it now allows users to pay with bitcoin for their ad-free premium memberships. Unlike other large players in the field, Grooveshark appears to be processing these payments directly, rather than through a processor like Coinbase or BitPay. In additional emails uploaded to Reddit, Grooveshark support appears to […]

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Swedish bitcoin exchange Safello picks up $250,000 in funding

Posted on July 11, 2014

Earlier this year, Swedish bitcoin exchange Safello made headlines for snagging roughly $600,000 in venture capital from some of the heaviest hitters in the bitcoin world: Erik Voorhees, Roger Ver and Blockchain.info CEO Nicolas Cary. Yesterday, Safello announced that it had raised an additional $250,000 in VC funds, this time from Bitcoin Opportunity Corp (BOC), […]

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Bitcoin-backed investment fund approved in Jersey

Posted on July 11, 2014

The tiny Channel Island made big noise in the bitcoin world today, as the nation’s Financial Services Commission gave final approval to the Global Advisors Bitcoin Investment Fund (GABI). The fund, created by the commodity-focused Global Advisors hedge fund company, appears to be the first of its kind in Europe. The fund will allow institutional […]

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Bitcoin insiders begin making public 2014 price projections

Posted on July 10, 2014

For those that view bitcoin as a purely speculative phenomenon, price is everything. Sure, a groundbreaking technology that allows value to be exchanged instantly, anywhere in the world, very nearly for free and without the need for any middlemen or gate keepers is fine, but you generally can’t pay rent with good ideas. Speculators simply […]

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Report: Chinese bitcoin startups quietly on the rise

Posted on July 10, 2014

It has been months since the People’s Bank of China officially choked off access to the banking system for the country’s native bitcoin exchanges. Just how effective this policy has been at quelling interest in cryptocurrency in China is open to debate, there’s no question that the PBoC’s policies and pressure have had a chilling […]

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Andreas Antonopoulos resigns from Bitcoin Foundation

Posted on July 10, 2014

There are few people in the bitcoin world with as much name recognition as Andreas Antonopoulos. As an advocate for the technology and cultural force of bitcoin, Antonopoulos has been given countless presentations, lectures and interviews explaining what the crytocurrency revolution is, why it matters, and how everyday people can participate. When the mainstream looks […]

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NYDFS chief Ben Lawsky says virtual currency regulations will be released this month

Posted on July 10, 2014

New York Department of Financial Services (NYDFS) superintendent Ben Lawsky announced via Twitter yesterday that his agency was facing some delays in the finalization of rules for digital currency-using companies in the state. Originally planned for debut around the first of the month, the much-anticipated regulations will provide guidelines for how the range of financial […]

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Bitcoin Foundation hires lobbying firm to advocate for digital currency on Capitol Hill

Posted on July 9, 2014

In a blog post on the Bitcoin Foundation website, Global Policy Counsel Jim Harper announced today that the organization has hired lobbying firm Thorsen French Advocacy to represent the bitcoin industry in D.C. Thorsen French is a relatively small lobbying firm, but it has a solid track record of representing its clients’ interests on Capital […]

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BitPay releases Copay, a open-source multi-signature wallet

Posted on July 9, 2014

Earlier this year, Bitcoin Core developer Gavin Andresen declared 2014 to be the “Year of Multi-Sig.” The development of highly secure wallets requiring multiple private key approvals holds a huge amount of promise for more complex applications of the bitcoin protocol, enabling natively created smart contracts, escrows and corporate-style accounts where payments must receive multiple […]

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Satoshi Nakamoto Institute pays tribute to “bold” bitcoin skeptics and their assertions

Posted on July 9, 2014

When Boston University Finance Professor Mark T. Williams issued insisted that bitcoin would crash “below $10” by the first half 2014, he probably didn’t realize that he was throwing down the gauntlet to almost every bitcoin believer. He almost certainly didn’t expect that, due to an earlier slip of the tongue, he and his admittedly […]

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Bitcoins.com domain name to be auctioned off, proceeds split with Mt.Gox creditors

Posted on July 9, 2014

Later this month, the Bitcoins.com domain name will go onto the auction block. U.S.-based auction house Heritage Auctions will be selling off the domain to the highest bidder at a special event called Domain Names Signature Auction on July 24 in Dallas. Owned by Mt.Gox CEO Mark Karpeles through Mt.Gox’s parent company, Tibanne K.K., the […]

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Bitcoin Core update to include “floating fees”

Posted on July 8, 2014

In an update posted to the Bitcoin Foundation blog yesterday, Chief Scientist Gavin Andresen explained the implementation of the long-rumored “floating” transaction fee system. While previous versions of Bitcoin Core had hard-coded (yet optional) fees to miners for including transactions in blocks, version 0.10 will alter the wallet code to allow high-priority transactions to happen […]

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Xapo raises $20 million in new funding, $40 million overall

Posted on July 8, 2014

Multi-service bitcoin startup Xapo announced in a blog post today that the company has secured an additional $20 million in Series A-1 funding, bringing the total invested in the Palo Alto-based company to $40 million. The investment trumps the previous record of $30 million set by bitcoin-processing giant BitPay earlier this year. Although considered something […]

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Bruce Fenton: ISIS terrorist bitcoin piece is “phony”

Posted on July 8, 2014

Atlantic Financial founder and bitcoin enthusiast Bruce Fenton spends a lot of time in the Middle East. As an economic strategist focused on investment, and as the self-proclaimed owner of a 25-year-old regional security company whose clients include the “DoD, FBI, Army, Navy,” Fenton has at least some awareness of the tensions in the area […]

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Is itBit’s New York relocation an indicator of things to come?

Posted on July 8, 2014

In a blog post published yesterday, Singapore-based bitcoin exchange itBit announced plans to relocate its main office halfway across the planet to New York City. The move appears to signal a growing sense that the safest setting for bitcoin-based trading is no longer the relatively permissive Southeast Asian city-state, but rather the soon-to-be regulated by […]

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Report: ISIS-tied blogger claims bitcoin could “enable jihad”

Posted on July 7, 2014

Sky News reported today that a publication linked to the Islamic State of Iraq and Syria (ISIS) recently published a blog post entitled “Bitcoin and the Charity of Violent Physical Struggle” about the use of cryptocurrency in the global jihad. According to the article, the unnamed author claims that bitcoin is “untrackable” by Western governments, […]

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Report: Mt.Gox paid parent company $200K after bankruptcy

Posted on July 7, 2014

Did Mt.Gox pay its parent company, Tibanne K.K., roughly $200,000 in fees for “services rendered”? According to a document leaked by Mt.Gox tracking website goxdox.org, the failed Tokyo bitcoin exchange moved the funds on May 26, with court-appointed bankruptcy trustee Nobuaki Kobayashi approving the transfer. While Mt.Gox’s funds are seized pending the results of the […]

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Donations to FreeRoss.org skyrocket after Roger Ver’s Twitter pledge

Posted on July 7, 2014

In the excitement about the U.S. Marshal Service’s auction of millions of dollars in bitcoin seized from the Silk Road, the situation of its alleged mastermind has gained less attention. Ross Ulbricht, the man the FBI claims ran the Tor-obscured website under the name “Dread Pirate Roberts,” has been awaiting trial since his arrest in […]

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Report: French authorities seize 388 BTC from “illegal” exchange

Posted on July 7, 2014

In a story published this morning by Reuters, French officials in Cannes and Nice arrested two men in connection with an “illegal” bitcoin exchange, seizing 388 BTC (roughly $240,000). The men, whose names have not been released, face charges of “illegal banking, money laundering and illegally operating a gambling website.” The exchange’s name and website […]

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