19 February 2014

Bitcoin Weekly News Summary For The Week From The 10 To The 16 Of February 2014

Bitcoin Weekly News Summary

This BWNS edition counted with the sponsorship of www.Azte.co. Azteco is the easiest way to get Bitcoin  as you only need a 16-digits voucher code you can then redeem at the Azteco website in just 1 minute. Simple as it gets. If you are a Bitcoin Accepting Retail Business, we want you to take a look at being an Azteco Voucher Vendor and start earning some extra Bitcoin Income.

The Feel Of The Week

Last week (3-9) was a bad one for Bitcoin. But this one (10-16) was a bad and stressful one. It felt like pure stress. All thanks to the Fear,Uncertainty and Doubt being spread around starting with Mt.Gox itself and then to the rest of the inane and hyperbolic news coverage that followed. Which in turn caused and anger and frustration in the more seasoned heads of the Bitcoin Scene. Fortunately what felt clear by the end was that the worst has passed and that there was benefits to what will be learned from it. Of course not everything was bad and there were actually some very good news. Even if they were somewhat overshadowed.

The News Highlights:

> USD Bitcoin Average Exchange Price started this week at $690 and dropped to $620 with Mt.Gox announcement blaming a bug in the Bitcoin Protocol. It rebounded as people started buying from those panic selling to$704. Then it went down to the lowest point at $574 once Bitstamp and BTC-E suspended operations to check their own Bitcoin Implementations and avoid the Transaction Malleability problem. Then again came those buying out the Bitcoins from panic sellers making it to rebound to $671. Later on the rest of the week as nerves and effects continued on the Transaction Malleability issue the BAEP ended up floating between $640-$650.

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*NOTE* : This week BAEP price chart and quick recount does not contemplates in Mt.Gox no more as it is not applicable once it stopped being relevant to the price since it remained isolated and was no longer operation as an exchange in any away, given neither FIAT currency or Bitcoin could be withdrawn.

> Mt.Gox released a statement blaming Bitcoin for they having to stop Bitcoin Withdrawals. Saying that it was because of a bug called Transaction Malleability. The problem with this of course is that such bug don’t has an effect on the Bitcoin Network or its reliability but only was a threat to the not up to date Bitcoin Wallet and Bitcoin Exchange implementations. Meaning the fault lies on the entities holding bitcoin. Not Bitcoin itself.

This slanderous statement from Mt.Gox caused further panic selling on those trapped within Mt.Gox and outside of it because of the News Coverage that followed it.  As I had last week. Outside of Mt.Gox the effect of all this drama were anything  more that a nuisance. Even if the crashing of the Bitcoin Exchange Price on Mt.Gox caused the BAEP to no longer being inflated by previously 15% higher Mt.Gox prices. Which for months have been caused by the fact that Fiat Currency withdrawals from Mt.Gox were just not possible as they take months.

But as Mt.Gox was no longer operational during this week and nerves about the chance of Mt.gox having lost funds of those inside or that they were hiding something spread. So did the desperation of those with Bitcoins or Fiat Money trapped inside Mt.Gox. Which caused a dramatic crash on Mt.Gox price. With those with trapped funds willing to sell to others also trapped but with more confidence or financial fortitude for 50%-60% off the pre-freeze. This in turn and considering that Mt.Gox was effectively no longer an operational exchange led to BitcoinAverage, CoinDesk, Cryptocoincharts and eToro among others to drop Mt.Gox from their weighted Bitcoin price indexes.

Since this story followed during all the week. With it not starting and not ending this week. Things got weirder and tempers trembled on the brink of losing control. The reasons were many, but 3 were the more note worthy:

1.- Mt.Gox usual poor and insufficient way to communicate.

2.- Mt.Gox trying to blame Bitcoin itself and not accepting any guilt whatsoever.

3.- Speculation that it would not be farfetched Mt.Gox saw this bug in their Bitcoin Implementation as the perfect opportunity to manufacture a big crisis out of a small one that would cause their own Bitcoin Prices to collapse in order for they to buy low and sell high later. And at the same time retaining  a high volume of people in their exchange from who they could continue to extract fees from as long as possible.

> After Mt.Gox released their statement blaming Bitcoin itself, there were many reactions but  the ones from Gavin Andresen, Jeff Garzik and Andreas Antonopoulos are specially relevant:

> Inspired by last week (3-9) story of the Redditor that flew to Japan previous to t.Gox Friday Freeze and got some answers from Mt.Gox. Aaron Gutman decided to do the same and protest outside Mt.Gox offices while recording important events. One of the important events being his first encounter with Mark Karpeles which he got on Video.

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> Finally, because of Mark Karpeles behavior with this last bad note from Mt.Gox. Many have called for he to resign from The Bitcoin Foundation Board. Someone even made that a change.org petition. I do happen to agree with the sentiment that he should resign. Even if such gesture would be symbolic in the end. However, as that would mean Karpeles accepting fault. Many don’t see that happening as of right now. Among those wanting Karpeles to step down was Charlie Shrem who did stepped down after his release on bail after being arrested on alledged Money Laundering Charges.

> Vitalik Buterin from Bitcoin Magazine posted one of the best explanations on the Transaction Malleability Issue while adding Mt.Gox to the context of it.

SOURCE: http://bitcoinmagazine.com/10093/transaction-malleability-mtgoxs-latest-woes/

> Microsoft added support for Bitcoin Conversion to Bing Search. So now you can do a search for  1 BTC to USD or other dozens of currencies and you will get the current exchange price. This was done via a Coinbase API integration. This makes Bing the third to support Bitcoin conversion on search. The first was DuckDuckGo and the second was Yandex.

SOURCE: http://blog.coinbase.com/post/76234094435/microsoft-bing-and-coinbase-make-real-time-bitcoin

> Starting the week something weird happened at BTC-e that so far I have to see explained in a verifiable manner. Someone sold Bitcoin at $100 causing this graph of a split-second crash:

Capture

The possible reasons so far: 1.- Glitch in someone’s custom trading software or 2.- Someone selling stolen Bitcoins in a flash. I honestly think that it was more likely reason 1. Making this Software Glitch probably the most expensive one yet for a Bitcoin Trader.

> Bitcoin Won A Crunchie For Best Technology Achievement

SOURCE: Bitcoin Wins Best Technology Achievement But Satoshi Doesn’t Show TechCrunch

> Coingig.com put a Announcement Banner stating they would be shutting down. Nothing specific has been said on the why. 

SOURCE: www.Coingig.com

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> A Bill was introduced in California, USA that could make Bitcoin officially legal if ratified.

LINK: http://bitcoinexaminer.org/bill-cryptocurrencies-legal-california/

> Australian Authorities Stated They Will Set Tax Guidelines For Bitcoin This Year.

LINK: http://www.coindesk.com/australia-official-tax-guidelines-bitcoin-this-year/

> Thailand clarified that Bitcoin is not illegal. Allowing Thailand’s largest Bitcoin exchange to resume operations.

LINK: http://bitcoinexaminer.org/thailands-exchange-bitcoin-legal/

> An OS X focused Bitcoin Stealing Malware called was identified and reported.

LINK: http://bitcoinexaminer.org/trojan-horse-variants-mac-os-x-login-credentials-bitcoins/

> Fivver started accepting Bitcoin. Fivver is a popular marketplace for tasks or services you can get for $5 USD.

SOURCES: Fiverr

http://blog.coinbase.com/post/76315615202/coinbase-partners-with-fiverr-first-large-services

> Bitpay released Bitcore.io, An open source Javascript library to accelerate development of Bitcoin related services, apps and tools.

SOURCES: bitcore.io

http://blog.bitpay.com/2014/02/14/introducing-bitcore.html

> Coinbase announced BitHack, A Bitcoin Hackathon with $18,000 USD worth of Bitcoin in prices. Best of all? Anyone in the world can participate.

SOURCE: www.bithackathon.com

> Ukraine Central Bank demanded that Bitcoin Businesses operating in the country to register with the government as so.

LINK: http://bitcoinexaminer.org/ukraine-central-bank-registration-of-bitcoin-businesses/

> According to an online shopping related survey, 57% of Brits are aware about Bitcoin. There is other interesting data on the linked article too.

LINK: http://www.coindesk.com/most-brits-aware-bitcoin/

> Lithuania issued a warning on Bitcoin. The usual as seen in other countries.

LINK: http://www.coindesk.com/russia-lithuania-europe-bitcoin-regulation/

> Glyde started accepting Bitcoin. Glyde is a marketplace where you can sell your electronics, games and gadgets. Now you can sell them and get paid for them in Bitcoin if you want.

SOURCE: Glyde- Simply buy and sell your games, iPads, iPhones and more

> Revel Systems added Bitcoin Support for their iPad based POS via Coinbase.

LINKS: http://revelsystems.com/

http://www.qsrweb.com/article/227761/Revel-Systems-POS-platform-adds-Bitcoin-integration

> Overstock announced they will launch a 1% rewards program scheme in Club O Dollars.

LINK: http://www.coindesk.com/overstock-launch-new-rewards-program-bitcoin-buyers/

> BitTradeAustralia announced the 3 winners of their Bitcoin Essay Competition that had 12 Bitcoins in prizes. With the first place getting a whooping 7 Bitcoins.

SOURCE: https://www.btradeaustralia.com/about/essay-competition/

> Silk Road 2 lost 2.6 Million Dollars worth of Bitcoin in an alleged hack. With everyone believing that it is an inside job. So far Admins say they will pay it back by cutting affected vendors fees until repaid.

LINK: http://www.coindesk.com/silk-road-2-loses-bitcoins-hack/

> Porn.com Stated that 10% of their premium account sales are now in Bitcoin.

> Bank of Greece issued a Bitcoin warning. Same like from other past ones in other countries.

> A  MIT Technology Report seems to dispel the myth that Bitcoins only get hoarded as it found that are more like to be spent.

SOURCE: http://www.technologyreview.com/graphiti/524796/show-me-the-bitcoins/

> Another of this week new stories that caused some FUD were a series of Bad Dust Transactions that pretty much seems everyone received from the Bitcoin addresses starting with 1enjoy and 1sochi.  Included myself in one of my Coinbase Accounts. Some did a study on them and only found them be spam. But the theory that they could have been tracking beacons was something that even I considered. Until they of course didn’t confirmed. Until now no one knows exactly who or why they were done. But the only thing more than one agrees is that don’t seem to have anything to do with the DDOS attacks on Bitcoin Exchanges or the Transaction Malleability Issue attacks.

> After receiving a Bad Dust Transaction on one of my Coinbase accounts I thought it a good idea to ask Coinbase support on what they were going to do about it. They told me that the Coinbase Dev Team was already working on a fix to that. 24hrs later the bad dust transaction was gone from my account. I don’t know that was the case for everyone on Coinbase that had received a Bad Dust Transaction or not. But just so you know.

2014-02-13_2212

> Stripe CEO Tweeted on Bitcoin at the same time a rumor that Stripe is looking to enter the Bitcoin Payment Processor game is going around. Coincidence or COINcidence?

> Bitcoin Went Country Music with the Song called “Ode To Satoshi” by John Barrett.

The Send Off.

And those were the news highlights of that week when it comes to Bitcoin. Comeback every week for the very best way to catch a whole week worth of Bitcoin News in just one place in just minutes, annotated, commented and fully linked at for you.

This BWNS edition counted with the sponsorship of www.Azte.co. Azteco is the easiest way to get Bitcoin  as you only need a 16-digits voucher code you can then redeem at the Azteco website in just 1 minute. Simple as it gets. If you are a Bitcoin Accepting Retail Business, we want you to take a look at being an Azteco Voucher Vendor and start earning some extra Bitcoin Income.

Bitcoin Tip This Post:

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Any donation is very much appreciated.  You can also sponsor this post series. Inquire for info. Bitcoin accepted too of course.

 

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11 February 2014

Bitcoin Weekly News Summary For The Week From The 3 To The 9 Of February 2014

Bitcoin Weekly News Summary

This BWNS edition counted with the sponsorship of www.BitVapors.com. Online Vendor of E-Cigs, Accessories and Consciously selected USA-made E-liquids for all your Vaping Needs. Bitcoin & Litecoin Accepted. Shipping to you in the USA and Internationally.

The Feel Of The Week

Bad Weeks are not the common fare in Bitcoin. But the week summarized in this BWNS edition sure was. Full of bad news and imposed bad news thanks to the way Bitcoin News are now covered in Mainstream Press and Media.  It not all bad since there were still good news as the week started very well. But looking back it sure felt like a rough week given all the drama it had. 

The News Highlights:

> USD Bitcoin Average Exchange Price started this week at $834 and stood over $820 until February 6 when the whole Apple and Russia ordeals took place. This took the BAEP down to $794. February 7 came and then the Mt.Gox Friday Freeze happened. This made the BAEP to dive to a week low of $694. On February  8 the markets saw a buzz of Bitcoin Traders grabbing al the Panic Sellers Bitcoin taking the BAEP to $740, but Sunday arrived and we ended the week on $700.

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> USPS research on extra revenue streams took them to take a look at Bitcoin. While the original report is from January 31, it really only buzzed into it being covered around until February 3. Which is why it appears here. The idea of the USPS seems like a far fetched one since it would instantly cause a boom to Bitcoin in both price and adoption in a scale never seen yet. But it is not really as far fetched when you realize it would be the most effective way for the USA government to fully regulate Bitcoin on a federal level. It is really one of the most forward thinking ideas so far looking into Bitcoin coming from a Government Funded Institution. It really intrigued me and I would dare say it also intrigued most of the Bitcoin Scene. Not just those living in the USA.

SOURCE:  http://go.bloomberg.com/political-capital/2014-01-31/can-bitcoin-save-the-postal-service/

LINK: http://www.coindesk.com/us-postal-service-bitcoin-exchanges/ 

> CheapAir.com started accepting Bitcoin for booking hotels too. Before that they already accepted Bitcoin for booking Plane Tickets. But now it also accepts it for Hotel Rooms. Making it possible to pay for a room in 200,000 Hotels around the world.

LINK: http://bitcoinexaminer.org/book-hotel-bitcoin-cheapair-com/

> The Wall Street Journal added a Bitcoin News Section. They called it BitBeat.  Goes to show just how mainstream Bitcoin News Coverage has become.

SOURCE: http://blogs.wsj.com/moneybeat/2014/02/03/bitbeat-your-daily-bitcoin-round-up/

> Nymi, A company that will launch a  Biometric Authenticator Wrist Gadget announced that one of the apps for their Wearable will be a Bitcoin Wallet.

SOURCE: http://www.getnymi.com/

LINK: http://techcrunch.com/2014/02/04/nymi-bitcoin/

> Russia Prosecutor General Office issues ruling on Digital Currencies being illegal based on Russia Article 27 of their federal law. Which was the basis for Russia past Warning on Bitcoin.  However this new ruling does not mean full clarity in just how illegal Digital Currencies supposedly are. And with that I mean how does actual prosecution looks for it or how enforceable it actually is beyond generic measures at banks and obviously any Russia based Bitcoin Exchange and big commercial entities.

What I mean is that the whole thing is still in motion and unclear. Bringing back memories of what happened when Thailand Banned Bitcoin, but not really. Or when China did so for banks and exchanges. The only thing clear about Russia’s ruling is that they are pushing Bitcoin to their gray and black markets for the moment. But given this is Russia we are talking about. Many everyday things are based in the gray and black markets. So, I would not declare Bitcoin dead at all on Russia. I will only concede it got complicated.

LINK: http://bitcoinexaminer.org/russian-prosecutor-bitcoin-cryptocurrencies/

>CoinMap.org reached 3000 listed places accepting bitcoin. Worth to note that it still only represents a fraction of the places accepting Bitcoin around the world. That in my own napkin map based on just how many registered merchants there are on the top 3 Bitcoin Payment Processors must be well over 10,000 places. That number in turn does only represent on a fraction of all merchants accepting Bitcoin considering that on the Top 3 Bitcoin Payment Processor there are already over 50,000 registered merchants.

SOURCE: www.Coinmap.org

> Thanks to the MyBus 2.0 Canberra App. You can now pay for the bus fare with Bitcoin if you happen to live in Canberra, Australia.

SOURCE: http://imagineteamsolutions.com/app/mybus-2-0/

LINK: http://bitcoinexaminer.org/canberra-commuters-bus-bitcoin/

> Kazakhstan Central Bank Governor was reported to be thinking in Banning. Doubtful they will be able to do so, other than saying it is banned. Clearly a reaction to Russia recently more publicized stance on Bitcoin.

LINK: http://www.coindesk.com/kazakhstans-central-bank-ban-bitcoin-protect-bankers/

> Scan, A Notable Electronics UK Retailer started accepting Bitcoin. You can think of it as similar to TigerDirect and Newegg.

SOURCE:

> CoinTerra had a Security Breach and had to withstand several attacks to their site. This after the previous week when they disappointed everyone by not shipping but one unit and announcing their 2 TeraHash Mining Hardware would only be able to do 1.4 Terahashes.

SOURCE: http://cointerra.com/information-update-cointerra-com-security-breach/

> Malwarebytes, The Anti-Malware Software Provider started accepting Bitcoin for their premium products.

SOURCE: http://blog.malwarebytes.org/news/2014/02/malwarebytes-now-accepts-bitcoins/

> Perseus Telecom, a heavy-bandwidth telecommunications provider started accepting Bitcoin by partnering with GoCoin.

LINK: http://www.marketwatch.com/story/high-speed-link-provider-perseus-to-accept-bitcoin-2014-02-06?link=MW_latest_news

> HighKart, an Online E-Commerce retailer debuted as the first one in India to accept only Bitcoin as method of payment.

LINK: http://www.dnaindia.com/money/interview-india-s-first-e-commerce-store-to-accept-bitcoin-only-as-a-payment-method-1959468

> Coinbase suffered a series of thefts reported during the week that amounted to 40 Bitcoins. The thefts targeted accounts that had enabled the Coinbase API Key or by phishing campaigns.

LINK: http://bitcoinexaminer.org/hackers-coinbase-bitcoin-thefts/

> Coinbase overhauled the API Key Management. Making it granular and allowing for improved security. This will finally allow for Coinbase Users – Myself included – to finally be able to use Third-party Coinbase apps without any fear. Thing that previous to this Coinbase update was just too dangerous.

SOURCE: More security and granular control with the new API keys

> Indonesia Central Bank took a more neutral stance to Bitcoin. Basically it is hand-off approach with the usual warnings to users.

SOURCE: http://www.bi.go.id/id/ruang-media/siaran-pers/Pages/sp_160614.aspx

LINK:  http://www.coindesk.com/indonesia-central-bank-takes-new-more-neutral-stance-bitcoin/

> Two LocalBitcoins.com users were arrested on Money Laundering Charges in Florida. This however does not mean you will be arrested if you are making  large transactions on LocalBitcoins in the USA. The key element is these users completing transactions over $10,000 USD for Bitcoin or the other way around when they had previous knowledge the money or the Bitcoin came from criminal activity or it is going to be used for criminal activity. In the case of those arrested, the undercover agents previous to meeting had stated they wanted the Bitcoin to commit a crime or that the money they were going to receive came from a crime. Since that is what determines criminal intent and makes the case for them. So, Bitcoin Transactions are not illegal. What is illegal AND fully enforced with process prosecution is doing big money amount transactions that have criminal intent on them. Obvious I thought. But it seems some were confused on this.

LINK: http://krebsonsecurity.com/2014/02/florida-targets-high-dollar-bitcoin-exchangers/

> Butterfly Labs faces a new lawsuit for a $62,000 USD order that was never delivered. Almost not news at this point. But the baffling perspective from BFL on why it is somehow not their fault but the customer fault is the reason why it is worth highlighting. To read more on it, check the link.

LINK: http://arstechnica.com/tech-policy/2014/02/new-lawsuit-against-bitcoin-miner-manufacturer-alleges-fraud-negligence/

> The BitcoinWallet.com domain got sold for an insane $250,000 USD.  Overpriced given it is two words and eleven characters in total. Since I did ventured in Domain Selling in the late 90’s and early 2000’s, I would said based on the recent publicized sale of several two word domains. $100,000 USD would had been a more fair price for it in current markets. Even if High Potential .com Domains is a game that in 2014 is only worth it if you are fully building the brand based on the domain name or in reflection to the domain name. Owning BitcoinWallet.com really only makes sense if you do are going to make a Online Bitcoin Wallet since the domain name is too specific and too self-explanatory. The problem here is unless you are ready to invest dozens of millions of dollars to compete with Coinbase and blockchain.info there is no real reason to own it that will give you a return for what you paid for it. But hey, there is no doubt it is a cool domain.

LINK: http://www.coindesk.com/inc-5000-entrepreneur-buys-bitcoinwallet-com-domain-for-250k/

> Apple Removed Blockchain.info Bitcoin Wallet App from iOS App Store. Leaving iOS users without any option of Bitcoin Wallet App unless they Jailbreak their device.

What that action caused was one of the biggest Bitcoin News Stories of the week.

First there was the reaction from Blockchain.info

Blockchain’s Response to Apple

That explained how Apple didn’t gave a reason on why the removal after the app had been around for 2 years. With the possible explanations being that Apple does not get a cut of that, that Apple is going to release their payment system and does not want Bitcoin around or that Apple just loves to be a jerk. All 3 valid explanations, really.

Blockchain.info response was covered in several dozens of blogs and news sites in several languages. Many blogs also had a critical stance to Apple.

After that came the reactions from big players in the Bitcoin Space in the USA criticizing Apple and even from Mark Cuban.

Then, then came Reddit’s Bitcoin SubReddit reaction which was swift and flashy.Round-Peg, Redditor and Bitcoiner  declared a challenge and a contest of sorts. He would give a Google Nexus 5 to 5 iPhone owners and Bitcoin users that smashed their devices on video and stated they were against Apple for their move against Bitcoin.  5 videos followed fast and there was even an extra video who managed to also get the Nexus 5 thanks to the spectacular fashion he was going to smash his iPhone: With High-Caliber Bullets.

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Round-Peg’s Bitcoin Sponsored iPhone Destruction paid off as the videos were also covered in dozens of blogs and news sites. From sources as mainstream as the CNN website.

Finally came the mocking of Apple via reinterpretations of famous Apple Ads. The ones famous for stating just how much of a rebel, different and user conscious Apple was. The operative word being WAS.  Even if in reality Apple has never being any of that. But, well, that is another subject.

> Mt.Gox halted Fiat-currency and Bitcoin Withdrawls without giving much explanation to why and leaving everyone in a state of doubt. This in turn caused a drop in the Bitcoin Average Exchange Price as Mt.Gox had for a long time had an anywhere from 10% to 15% higher price than other exchanges. With the BAEP drop being correspondent to that difference.

SOURCE: https://www.mtgox.com/press_release_20140207.html

> Previous to the Mt.Gox Friday Freeze, A Bitcoiner had shared a chronicle of his adventure in trying to get answers from Mt.Gox directly by traveling to Japan. The story has now being 90% verified and it is a great intro to what lead to the Friday Freeze.

SOURCE: http://www.reddit.com/r/Bitcoin/comments/1x9gue/my_protest_at_mtgox_offices_5_to_7th_february/

The Send Off.

And those were the news highlights of that week when it comes to Bitcoin. Comeback every week for the very best way to catch a whole week worth of Bitcoin News in just one place in just minutes, annotated, commented and fully linked at for you.

This BWNS edition counted with the sponsorship of www.BitVapors.com. Online Vendor of E-Cigs, Accessories and Consciously selected USA-made E-liquids for all your Vaping Needs. Bitcoin & Litecoin Accepted. Shipping to you in the USA and Internationally.

Bitcoin Tip This Post:

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Any donation is very much appreciated.  You can also sponsor this post series. Inquire for info. Bitcoin accepted too of course.

 

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04 February 2014

Bitcoin Weekly News Summary For The Week From The 27 Of January To The 2 Of February 2014

Bitcoin Weekly News Summary

This BWNS edition counted with the sponsorship of www.BitVapors.com. Online Vendor of Consciously selected E-Cigs, Accessories and USA-made E-liquids for all your Vaping Needs. Bitcoin Accepted. Shipping to you in the USA and Internationally.

The Feel Of The Week

Tense. Is how in one word I would describe how the week felt. Mostly because of events happening in New York. It was not until the end of the week that everything started to feel normal. Nonetheless there was lots of big news. The ones that caused the tension and the rest that relieved most of it.

The News Highlights:

> USD Bitcoin Average Exchange Price started this week at a high of $886 and went for a dive to the week low of $777 on Jan 28 driven by the news of Charlie Shrem’s Arrest. Bouncing back on the same day to $823 as Bitcoin Daily Traders quickly jumped in to catch the cheap Bitcoins from that day Panic Sellers. To then pass of the rest of the week slowly recovering and reaching out up to $841 by the end.

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> BitInstant CEO Charlie Shrem got arrested on New York as he was returning from Miami. Then accused with Money Laundering Charges.

Link: http://bitcoinexaminer.org/bitinstant-ceo-charlie-shrem-arrested-due-money-laundering/

> New York Bitcoin Hearings took place and absorbed most of the attention during the week.

Here you can watch or fast-watch all of the hearings in order:

Panel 1, Day 1. January 28 of 2014. Part 1.

 

Panel 1, Day 1. January 28 of 2014. Part 2

 

Panel 2, Day 1. January 28 of 2014.

 

Panel 1, Day 2. January 29 of 2014.

 

Panel 2, Day 2. January 29 of 2014

Panel 3, Day 2. January 29 of 2014

> Bank Of Russia Issued A Warning On Digital Currencies. It was mostly the same kind of warnings we have seen from other countries. But a misreporting of the news running around the world on January 28 combined with Shrem Arrest among other news led to the BAEP to take a quick $100+ dive down.

LINK: http://www.coindesk.com/bank-of-russia-issues-warning/

> News of Chinese Bitcoin Exchange Market Manipulation started to run around on the 28 of January. Add it to the rest of bad news in the same day and those were the factors behind the BAEP $100+ dive.

LINK: http://www.coindesk.com/reality-chinese-trading-volumes/

> Charlie Shrem resigned of The Bitcoin Foundation board of directors as he was released on Bail and put on house arrest at his parents house.

LINK: http://bitcoinexaminer.org/charlie-shrem-resigns-from-bitcoin-foundation-after-paying-1-million-to-get-out-of-jail/

> According to a IT Professionals Survey Results. 51% of those who responded to such Survey would be interested to have the option to be paid in Bitcoin. Not really a shocking result I would say given the Survey Target are Sysadmins.

LINK: http://bitcoinexaminer.org/tech-pros-paid-btc/

> CoinTerra Ships First Terahash Bitcoin Mining Rig. And that was it. They only shipped one on the week apparently. Hey at least it does exist.

LINK: http://www.coindesk.com/cointerra-ships-first-terahash-bitcoin-mining-rig/

> Vera&John becomes the very first fully licensed Online Casino to accept Bitcoin. It helps that it is located in Malta of course.

LINK: http://www.coindesk.com/verajohn-becomes-first-licensed-casino-accept-bitcoin/

> During the week 3 more porn sites and 3 more escort agencies from around the world started to accept Bitcoin. Given I consider this now to be a common occurrence it is not really news unless counted as a single highlight. Thanks to the Bitcoin SubReddit for being always on the look out for these.

> TigerDirect says Bitcoin is to become accepted by more major retailers. It also confirmed that they will be carrying BFL Mining Hardware. Stating all obvious news but you can hear all of this yourself as there is actual Audio to listen to.

Source:

http://rare.us/story/tiger-direct-on-bitcoin-theres-going-to-be-a-wide-acceptance-among-major-retailers/

>  Mint, The Leading Personal Finance App added Bitcoin Integration Via Coinbase.

SOURCE: http://blog.coinbase.com/post/75043129266/coinbase-and-mint-announce-first-bitcoin-personal

> French Authorities rule that any Bitcoin Exchange operating in France must register and ask for a license. This brought the question: There are actually any Bitcoin Exchanges in France?

LINK: http://bitcoinexaminer.org/french-authority-bitcoin-exchanges-register/

> Crazy Bitcoin Fan gets a Bitcoin QR Code Tattoo.  Apparently it don’t resolves right or at all.

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LINK: http://bitcoinmagazine.com/9809/bitcoin-fan-gets-tattoo-public-bitcoin-address/

> New Hong Kong Bitcoin Exchange HKCEX secured a $2M USD investment. Chances for Bitcoin to proliferate continue to rise week by week.

LINK: http://bitcoinexaminer.org/new-hong-kong-bitcoin-exchange-hkcex-announces-2m-investment/

>  You can now get a Five-Star Luxury Apartment on Cyprus at The Bitcoin Resort.  With this and past news, Cyprus is really shaping up to be a destination for those that made it big in Bitcoin.

LINK: http://bitcoinexaminer.org/bitcoin-beachfront-apartment-cyprus/ 

> Winklevoss Twins to Submit a revised Bitcoin ETF to SEC. Maybe to change who it targets in hope to raise its chances for prompt approval.

LINK: Winklevosses to Submit Revised Bitcoin ETF to SEC

> USA’s FINCEN rules Bitcoin Miners and Investors are not Money Transmitters. Not that it could had been ruled otherwise and had a chance to actually enforce it. But it is good to have that to be stated officially.

LINK: http://bitcoinexaminer.org/bitcoin-miners-investors-money-transmitters-fincen/

> Estonia Central Bank says Bitcoin may be a Ponzi Scheme. No wonder Estonia is in such bad financial shape when their Central Bank Authorities don’t seem to understand how Ponzi Schemes work. Sad.

LINK: http://www.coindesk.com/estonian-central-bank-warns-bitcoin-ponzi-scheme/

> In Bitcoin We Trust, the UK Bitcoin Exchange introduced bank wire transfers in partnership with OKpay.

LINK: http://bitcoinmagazine.com/9853/trust-introduces-bank-wire-transfers/

> Overstock CEO said that he now holds million of dollars in Bitcoins. Must be nice to just go out one day and say: Today I will get me 3 Million Dollars of Bitcoins.

LINK: http://www.coindesk.com/overstock-ceo-holds-millions-bitcoin/

> John Carmack seemed to be more into Bitcoin during the week as he revealed that he now holds some Bitcoin and as he did his first public donation with Bitcoin to OpenBSD. Yeah, John Carmack on Bitcoin is small news but still news in my book.

SOURCE:

> The Chicago Sun-Times did their 1 day test with BitWall.

LINK: http://bitcoinmagazine.com/9840/chicago-sun-times-test-bitcoin-twitter-paywall-startup-bitwall/

> Reddit’s Bitcoin SubReddit reached 100,000 Subscribed Readers.

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> BTC China started accepting deposits again.

LINK: http://techcrunch.com/2014/01/30/btc-china-yuan-again/

> Cloudhashing Customers Appear To Start Becoming Unhappy. Maybe they are starting to realize that it is more than likely like burning money? I mean the only way it is going to be profitable is if you hold for all of 2014 and Bitcoin goes up at least 5x.

LINK: http://coinreport.net/costumers-unhappy-cloudhashing/

> Your Truly posted the first Bitcoin G+ Community Monthly Stat Report. 

SOURCE: Feb 2, 2014, 3-51-36 AM (edited Feb 3, 2014, 4-22-20 PM)

> AXNBTC had a huge promotion in Hong Kong to celebrate the Chinese New Year as they gave away HK$500,000 ($80,000 USD) in Bitcoin.

SOURCE:

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http://www.scmp.com/news/hong-kong/article/1416780/company-offers-bitcoin-instead-cash-lai-see-packets

> CAMP BX suspended ACH and WIRE Transfers. Now looking for new Bank Partners. Will refund pending withdrawals.

SOURCE:

You Can Now Link Your Coinbase Account To Pademobile And Pay With Bitcoin In Mexico
However: I have not used this yet. Will look into it. But I do must clear that depending on how much you spend between exchange rate and pademobile cut. It will cost anywhere from 5% to 15% to use Bitcoin this way. The possible reason for this move is that dominant mini-markets chain in Mexico rolled out a service last month that is very much so a rip-off of zipzap. Just without the Bitcoin Support. Pademobile itself would be more or less similar to M-pesa from Africa.

SOURCE:  Feb 1, 2014, 9-17-51 PM (edited Feb 2, 2014, 9-31-07 AM)

The Send Off.

And those were the news highlights of that week when it comes to Bitcoin. Comeback every week for the very best way to catch a whole week worth of Bitcoin News in just one place in just minutes, annotated, commented and fully linked at for you.

This BWNS edition counted with the sponsorship of www.BitVapors.com. Online Vendor of E-Cigs, Accessories and Consciously selected USA-made E-liquids for all your Vaping Needs. Bitcoin Accepted. Shipping to you in the USA and Internationally.

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