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.


> 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.



>  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.


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.


> 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.


> 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.




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


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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