Tag Archives: Bitcoin

Another Bitcoin exchange implodes: Vircurex freezes accounts

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“Vircurex is the latest company to join the growing list of insolvent Bitcoin exchanges, according to a statement issued on its site today.  Vircurex announced that it will immediately stop withdrawals of Bitcoin, Litecoin, and other virtual currencies, reports The Next Web. Starting tomorrow, Vircurex plans to freeze all user accounts.  Plagued by two hacking incidents last year, Vircurex previously pledged to cover its user’s losses via its own income. Due to ‘large fund withdrawals in the last weeks,’ however, Vircurex claims it has taken the above actions to prevent the service from shutting down entirely.”

http://venturebeat.com/2014/03/23/yet-another-bitcoin-exchange-implodes-vircurex-will-freeze-accounts-tomorrow/

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Breaking: CoinEx.pw hacked, all coins stolen

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“Another one bites the dust. CoinEx.pw seems to be the next exchange that became the victim of a successful hack.  Three days after the site went down, Erundook finally released an update concerning the CoinEx situation. It seems the exchange was definitely a victim of a hack. The wallet server was hacked and all coins were withdrawn.  Whether CoinEx will be able to recover all lost funds from their own pockets, remains to be seen. Selling shares may be a solution, but the community will only ease once they have definite proof that all coins are restored to the right users.”

http://www.cryptocoinsnews.com/2014/03/19/coinex-pw-hacked-all-coins-stolen/

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Was This $200 Vending Machine the World’s First Bitcoin ATM?

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“This low-tech version of a bitcoin ATM was built with a modest budget of €150 (around $200 at today’s prices). Furthermore, it was created not as part of a tech, business or computing course, but as an art installation.  To create his ATM, Albrecht bought a second-hand vending machine that cost him roughly €80 ($110). He printed out both private keys and links to individual online wallets, put the paper slips in small cardboard boxes, and put those in the vending machine.  A customer would simply need to insert a coin to get a voucher for their euro’s-worth of bitcoin, which was stored on easywallet.org.”

http://www.coindesk.com/200-vending-machine-worlds-first-bitcoin-atm/

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Goldman Sachs: Bitcoin Isn’t a Currency But Tech Holds Promise

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“A new Goldman Sachs report on digital currencies has found that while bitcoin is not a practical currency, its underlying ledger technology could hold promise.  In addition to its own researchers and scholars, Goldman Sachs also tapped a number of bitcoin advocates and critics, as well as industry veterans. Goldman Sachs envisions a future with more regulation and more security, but more regulation is not something that many in the bitcoin community desire at this point.  However, institutional investors will not get on board without a bulletproof regulatory framework and the collapse of Mt. Gox is bound to silence many critics.”

http://www.coindesk.com/goldman-sachs-bitcoin-isnt-currency-underlying-tech-holds-promise/

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In Hong Kong, Placing Their Bets on Bitcoin

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“By day, David Shin is an investment banker at a major financial firm. By night and in pretty much every other free minute, he is an entrepreneur looking to break into Hong Kong’s growing Bitcoin scene.  Even as concerns swirl about the long-term viability of the virtual currency, Mr. Shin is raising money, courting clients and hiring staff to build a sort of stock exchange for Bitcoin-oriented companies. Mr. Shin, 38, plans to start his venture, CryptoMex, at the end of April.  He and his business partners built IceDrill, an operation in Montreal where racks of speedy computers race to generate Bitcoin. But he is now selling part of his stake in the Canadian mine and focusing on his start-up in Hong Kong.”

http://dealbook.nytimes.com/2014/03/19/in-hong-kong-betting-big-on-bitcoin/?_r=0

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Gambling Website’s Bitcoin-Denominated Stock Draws SEC Inquiry

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“The Securities and Exchange Commission is conducting a formal inquiry into an online gambling website’s Bitcoin-denominated stock sale after the agency signaled that such dealings may break U.S. laws.  The SEC sent a letter asking MPEx, an online exchange for Bitcoin-based trading, to provide contracts and other documents relating to SatoshiDice.com, according to a copy of the request posted on the website trilema.com. Mircea Popescu, the MPEx operator to whom the letter was addressed, confirmed its receipt in an e-mail to Bloomberg News and said MPEx hasn’t broken any laws. The letter lists SatoshiDice as the topic of the inquiry without specifying what rules are at issue.”

http://www.businessweek.com/news/2014-03-19/gambling-website-s-bitcoin-denominated-stock-draws-sec-inquiry

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Over $100K in Bitcoin Was Stolen in a Ridiculously Low-Tech Heist

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“On Tuesday news broke that a Canadian Bitcoin exchange, simply known as ‘Canadian Bitcoins,’ was robbed of nearly $100,000 worth of cryptocurrency.  The method that Canada’s newly crowned most successful bitcoin thief used has exposed a massive (but by no means new) gap in computer security: human beings. All this thief did was open up a chat window with the data center that hosts the Canadian Bitcoins website and pretend to be its CEO, James Grant. Given that at no point did Granite Networks — the company that hosted Canadian Bitcoins — ever speak with the thief, the cyber-burglar could have been a 12-year old girl with an advanced knowledge of server systems and deception.”

https://news.vice.com/articles/over-100k-in-bitcoin-was-stolen-in-a-ridiculously-low-tech-heist

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Web Pioneer Marc Andreessen Keeps Faith, and Cash, in Bitcoin

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“Venture-capital firm Andreessen Horowitz, where Mr. Andreessen is a co-founder and partner, has made about $50 million of investments in the area—believed to be more than any other firm—from a $1.5 billion fund, the firm says. The Palo Alto, Calif., firm plans to invest hundreds of millions of additional dollars over the next few years from other funds, people familiar with the firm say.  Like the Internet, bitcoin will emerge as an accepted technology, Mr. Andreessen argues, as it becomes more regulated and consumers and businesses become more comfortable with the idea of digital currencies. With those changes, he predicts, the subversive politics often associated with the currency will fade.”

http://online.wsj.com/news/articles/SB10001424052702304026304579453501821936252

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Jeff Berwick talks Bitcoins and Central Banking on The Power Hour

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“The dollar vigilante, Jeff Berwick, discusses the past, present and future of bitcoin and how central banks and governments are trying to figure out how to stop its evolution.”

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Sean’s Outpost Under Attack on Birthday

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“In one year, we have fed 60,000 meals to the homeless people in the Pensacola area, secured a nine acre property with plans to open a campground for those in need of a safe area to stay, and opened a thrift store all through Bitcoin donations. Unfortunately, we are under attack by the City of Pensacola and the Board of County Commissioners for doing the right thing. The city and county have repeatedly stood in our way and hindered our efforts through trumped up citations and now with no prior notice, the Escambia Board of County Commissioners authorized the county attorney to file an injunction on Sean’s Outpost. This was passed with a 3-0 ‘vote’ with commissioners absent.”

http://www.bitcoinnotbombs.com/breaking-seans-outpost-under-attack-on-birthday/

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