Monthly Archives: June 2014

California on the verge of making bitcoin “lawful money”

Posted on 24th June, 2014

Even in a state that is home to many of the best-known bitcoin startups in the world, digital currency still exists in something of a legal gray area. Transactions not backed by the U.S. dollar have a different legal status under California law, are there are a variety of disincentives and penalties for using alternative […]

Report: “Futile” mining botnets on the rise

Posted on 24th June, 2014

In its latest security report, McAfee Labs turned its attention to bitcoin mining malware. While botnets for bitcoin and various alt-coins is on the rise, McAfee’s analysis claimed that even highly powerful networks of zombie machines were ineffective at mining. Even allowing for zero cost for hardware and power, most cryptocurrency algorithms long ago passed […]

British dependency Jersey wants to become a “Bitcoin Island”

Posted on 23rd June, 2014

With a population of just under 100,000, you might not expect that the tiny island of Jersey would be a major hub for international business. Yet, almost half of the island’s £3.7 billion annual national income originates in the financial services sector. Like many self-governing island nations, Jersey has made an industry of creating very […]

BTC China’s Bobby Lee explains bitcoin’s current status in China

Posted on 23rd June, 2014

BTC China CEO Bobby Lee has been at the front lines of the People’s Bank of China’s (PBoC) efforts to suppress bitcoin right from the start. Through it all, he’s managed to keep his exchange open even as his competition has scaled back their operations, changed their business models or closed completely under PBoC pressure. […]

Report: Congressman Jared Polis vows to protect bitcoin

Posted on 23rd June, 2014

When it comes to political advocates for bitcoin, U.S. Congressman Jared Polis is at the front of the pack. As a member of the House of Representatives, Polis might not have the policy sway of a senator, but he has already proven that he’s willing to use what influence he has to keep bitcoin from […]

Report:’s Jeffrey Smith talks about the 51% problem

Posted on 23rd June, 2014

Few organizations in the bitcoin community have been the subject of such heated debate as On the one hand, GHash has created one of the most user-friendly, efficient and low payout-variability pools in the cryptocurrency world, leveraging their own dedicated cloud mining system to encourage high rewards for independent contributors. On the other, GHash […]

Coinbase offers “bits” option, instant BTC buyback and new mobile site

Posted on 22nd June, 2014

It has been a very busy week for Coinbase. On Wednesday, the bitcoin payment processing giant unveiled their new mobile site. The move comes as Coinbase gave its official nod of approval to an unofficial iOS app entering the iTunes App Store. With bitcoin’s future on iOS still dependent on each company being in Apple’s […]

Report: Updated Gyft iOS app allows bitcoin payments

Posted on 20th June, 2014

For many active bitcoiners, Gyft is solution to a major problem: Buying things with bitcoin at places that don’t accept cryptocurrency. The company provides digital gift cards for some of the best-known brands and retailers in the world, such as Whole Foods, Burger King, CVS and Game Stop. The company even returns 3% of the […]