14 January 2014

Bitcoin Weekly News Summary For The Week From The 6 To The 12 Of January 2014

Bitcoin Weekly News Summary

This BWNS edition counted with the sponsorship of www.BitcoinWebHosting.net.  Your Privacy Minded , Bitcoin Accepting, Web Host Solutions Provider.

The Feel Of The Week

What a way to start 2014. First few days had a lot of activity. But the past week summarized here was just off the charts. Huge news, Big News for Bitcoin, all week long. All resulting in this being the very most extensive BWNS yet. All starting with the rush of the Bitcoin Average Exchange Price touching $1000 USD for the second time ever to some really huge news in the USA, big news from the UK and some medium-sized ones from Asia

The News Highlights:

> USD Bitcoin Average Exchange Price started this week at rallying at $940 and then just started jumping and in a matter of hrs on Jan 6 it reached $1000 and for a whole of 2hrs it stood there before a cashing out train left the station and then also on the very same Jan 6 it went back down to $930.  In January 7 it got up to $960 and quickly went down all the way to $890. Jan 8 went further downward and recovered. During the rest of the week it was the same story. It was only until Jan 11 that it started to go up again over to $900 and finally left the week at $910. All pointing to an unclear trajectory.


> Taiwan blocked out the possibility for Bitcoin ATM’s being on clear legal grounds.

LINK: Taiwan Regulators Block Robocoin Bitcoin ATMs

> India, One week it was out, last week it was unclear and this week pointed to be somewhat in. As Unocoin, One of India’s biggest exchanges gets the green light. Lets just agree that it appears they over reacted.

LINK:  India Gets The Green Light

> Lily Allen tells story about the time someone offered hundreds of thousands of Bitcoins for a her to stream a gig on Second Life over 4 years ago. The Problem with this story is that she is more than likely to have confused Linden Dollars with Bitcoin. As over 4 years ago, not even Satoshi Nakamoto had Hundreds Of Thousands of Bitcoins to just give away. The news story is still amusing and may be the very first celebrity news tabloid piece of its kind tied to a Bitcoin News Story.

LINK: Lily Allen Misses Out On Bitcoin Fortune

> German Central Bank official issues yet another warning on Bitcoin. It must be catching on in Germany even better than expected then.

LINK: German Central Bank Official Issues Another Bitcoin Warning

> Alibaba’s Tabobao, The ebay of China – that is actually a lot bigger than regular ebay – came down hard on Bitcoin by Banning any kind of sale related to it. Worst news of the week for Bitcoin hands down.

LINK: Chinese E-Commerce Giant Alibaba to Ban Bitcoins on Its Sites

> Coinbase released an Android SDK for In-App Bitcoin Payments In Cooperation with Bitmonet. Those at Coinbase sure love Android. And here am waiting for them to get their act together on the W8 and WP8 side. Hopefully it will happen this year since they are no longer developing for Apple.

LINK: Android SDK Released - Accept Bitcoin Payment In Your Own Android App

> Hong Kong Treasury official issued a warning on Bitcoin. Just as a Bitcoin ATM is making its way in.

Link: Hong Kong Treasury Official Issues Bitcoin Warning

> An Open Bitcoin ATM Project appears with a video demo promising a potentially very low cost.


> Over At The G+ Bitcoin Community. +Dave Lalande started a project to map BitPay’s Merchant Directory based on those who are actual retail locations.

SOURCE: Jan 7, 2014, 10-45-20 AM

LINK: Bitcoin Merchants - Google Fusion Tables

> At CES 2014. Proving that Bitcoin is a Hot Attraction. +Bitpay was listed as one of the Top 20 Checkins by Foursquare.

SOURCE: Jan 7, 2014, 5-31-27 PM

> There is always trying to find a good way to explain as much of what Bitcoin is as easy as possible. Nik5ter at Medium.com gave it a very good shot. And it was liked enough for Evan Williams of Blogger, Twitter and Medium promoted it with a tweet that made it very talked about.

LINK: Explain Bitcoin Like I’m Five

> Elliptic, The very first Bitcoin focused insured Bitcoin vault debuts in the scene. Quite an important development, just as important as the Bitcoin Bank backed by GoldMoney Limited. Curiously both are UK based developments. London sure seems to be what the time is.

SOURCE: https://www.elliptic.co/vault

> Worries over Bitcoin Mining Centralization materialized during the week as Ghash.io passed over 35% of hash power in the Bitcoin Network. This developed in a push for P2P Pool Mining in a way that was thought to be many months away. Eventually the crisis was averted but will remain close a critical point until enough miners switch to P2P Pool Mining.

LINK:  Mining Pool Centralization At Crisis Levels - Bitcoin Magazine

> Singapore gives out Full And Clear Tax Guidance on Bitcoin. They decide to see it as a service and as a product. Making Singapore stance on Bitcoin being unique compared to any other country.

LINK: Singapore Tax Authority Recognize Bitcoin And Give Out Guidance

> Bitcoin gets a second mention on FOX Sci-Fi Cop Show “Almost Human”. Making it clear that on that version of 2048, Bitcoin is very much so still around.


>  Bitcoin Makes The Cover And Lead Article Of Bloomberg Businessweek Magazine. Lead Article is on the arms race of Bitcoin Mining.

LINK: The Bitcoin-Mining Arms Race Heats Up


> Overstock.com Starts Accepting Bitcoin a lot early than they had announced thanks to a partnership with Coinbase who in the process gained the title of providing the biggest and more complex Bitcoin Merchant Integration to date. Causing the biggest Bitcoin News Frenzy everywhere this week.

SOURCE: Coinbase and Overstock.com Announce Largets Bitcoin Merchant Integration.

Pleased to announce that #Bitcoin is live at #Overstock.com! http://t.co/mx9TFc8KNQ

— Overstock.com (@Overstock) January 9, 2014

> On The first day of Overstock accepting Bitcoin, they ended with over $125K from over 800 transactions. Making the day a hell of a success for Overstock. Specially since it was USA-only. As International support for Bitcoin payments on Overstock is still to come.


After 21 hours on @overstock.com, we've had 780 #Bitcoin orders that accounted for $124,000 in sales. Wow!

— Patrick M. Byrne (@OverstockCEO) January 10, 2014

@s0ld13r desafortunadamente, no se puede comprar con Bitcoin en el extranjero. Pero mas o menos pronto, si. Viva Chile!

— Patrick M. Byrne (@OverstockCEO) January 10, 2014

         Translation from above Tweet relevant info: “Unfortunately you cannot buy with Bitcoin in the exterior. But more or less soon you will”

>  Verotel, The internet payment provider for High-risk merchants that is associated with being one of the biggest payment provider inbetweener for Adult Entertainment Sites announced that they will start taking Bitcoin via a +Bitpay partnership. While not as highlighted around in the news. This development is easily one of the Top 5 Bitcoin News of the week in terms of importance. It also puts in context last week news about why certain Adult Entertainment Sites Network suddenly started accepting it.

SOURCE: Verotel Launches Bitcoin With BitPay - The Sacramento Bee

> First serious Bitcoin Exchange debuted in The Philippines. With a focus on targeting the remittance market.

SOURCE: www.BuyBitcoin.ph

LINK: New Filipino Bitcoin Exchange Targets Remittance Market

> PrivateFly.com, A Private Jet booking site started accepting Bitcoin. You can travel with style on Bitcoin. Of course, if you can afford it…

SOURCE: PrivateFly.com

> On the heels of  USA’s Colorado State legalizing Marijuana came the snag that those in the Business of Marijuna Dispensaries cannot get a back account. Problem well suited for Bitcoin. Where one of the solutions will be store into Bitcoin. As there is really no other way without breaking the law and avoid hoarding cash.

SOURCE: Colorado Marijuana Dispensary Uses Bitcoin To Evade Federal Laws

> Originally, the rumored first big  online retailer in the USA soon to accept Bitcoin was Newegg. Thing that was debunked as only something being thought over by the retailer.. But after Overstock.com adopting it, they are now hinting that they are do considering it fully.

LINK: US IT retailer Newegg hints at Bitcoin payment acceptance

> The First Documented Bitcoin Transaction In North Korea took place. Done on Reddit by the aptly named BitcoinDPRK  via BitcoinTip to Sean´s Outpost for $100 USD.


SOURCE: The first Bitcoin Transaction In North Korea

> Hal Finney, The second person to mine Bitcoin and The first to ever receive Bitcoin from Satoshi Nakamoto told his personal story on the past few years. It is quite the emotional and inspirational read. A must read.

SOURCE: Bitcoin and me (Hal Finney)

> Pastebin.com started to accept Bitcoin. Anonymous must be pissed it was not Anoncoin. But hey, they have to start somewhere.

SOURCE: Pastebin.com - GO PRO!

> Vice.com Interviewed +Jerry Brito

SOURCE: Everything You Need to Know About Bitcoin- VICE Podcast 027

> Someone recorded a video from the so called New York Bitcoin Exchange or Bitcoin Center.  Looks like a nice start.


> Bitcoin P2P Pool Mining did got a bit easier as the official site of P2Pool now counts with a Windows OS Guide.

SOURCE: P2Pool'in! - the official homepage of the P2Pool software

> Those holding Western Union may be getting antsy because of Bitcoin. According to this report.

SOURCE: Western Union (WU) Decline Continues on Bitcoin-Related Concerns

> SmartMetric to Launch World's First Bitcoin Card With Biometric Fingerprint Protection. One of the most intriguing novelty developments of the week.

SOURCE: SmartMetric to Launch World's First Bitcoin Card With Biometric Fingerprint Protection

> eZanga, Website Advertising Network started accepting Bitcoin.

SOURCE: eZanga accepts Bitcoin – eZanga

> Wheely started accepting Bitcoin to fund your Taxi Fare Credit. In both Russia and The U.K.  They got Apps for Windows Phone, Android and iOS.

SOURCE: Wheely. London's most stylish minicab service

> CheapFlowers.com (USA-only) started accepting Bitcoin.

Cheap Flowers - Nationwide Flower Delivery

> Butterfly Labs Was At CES 2014. Am surprised of no news of disgruntled customers fighting with them at the CES floor have been reported.

SOURCE: ButterFly Labs Mining Cards and Bitsafe Hardware Wallet - CES 2014

> A Fuel Dispenser That Will Accept Your Bitcoin. Not a news from this week. But I gave the rounds this week.



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.

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This BWNS edition counted with the sponsorship of www.BitcoinWebHosting.net.  Your Privacy Minded , Bitcoin Accepting, Web Host Solutions Provider.




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