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What is Bitcoin?

Bitcoin is a digital crypto-currency with no single point of failure due to its decentralized peer-to-peer architecture. The source code is publicly available and changes to the reference Bitcoin client are made via concensus within the community. Advantages of Bitcoin include irreversible transactions (i.e. no possibility of chargebacks as with credit cards), pseudo-anonymous, limited and fixed inflation, near instant transactions, multi-platform, no double-spend and little to no barriers to entry and more. It was created by an anonymous person known as Satoshi Nakamoto. Find out more at WeUseCoins.com.

Bitcoin Latest News

Coinbase Opens DAI Stablecoin Trading to Retail Customers

Coinbase will now let its retail customers buy or trade the DAI stablecoin, so long as they don't live in New York.

Posted on 23 May 2019 | 6:25 pm

AT&T Teams With BitPay to Accept Bill Payments in Crypto

You can now pay your AT&T bill with crypto.

Posted on 23 May 2019 | 5:11 pm

Coinbase’s Merchant App Hits $50 Million in Volume Since 2018 Launch

Coinbase Commerce – the exchange unicorn's app for online retailers – hit a milestone after seeing an uptick in volume in Q2 2019.

Posted on 23 May 2019 | 5:00 pm

SEC Sues Alleged $26 Million ‘Crypto’ Ponzi Scheme Operator

The SEC has accused Daniel Pacheco of running a $26 million Ponzi scheme disguised as a cryptocurrency.

Posted on 23 May 2019 | 4:50 pm

Vitalik Proposes Mixer to Anonymize ‘One-Off’ Ethereum Transactions

Founder of ethereum Vitalik Buterin proposed Wednesday a "simple" design to enhance privacy features on the ethereum blockchain.

Posted on 23 May 2019 | 4:45 pm

Robinhood launches Bitcoin and digital assets trading in New York - FXStreet

Robinhood launches Bitcoin and digital assets trading in New York  FXStreet

The state of New York residents will now access buy and selling services on Robinhood trading app for Bitcoin, Ethereum among other cryptocurrencies.

Posted on 23 May 2019 | 4:36 pm

Bitcoin (BTC) is a Taxable Asset, Not a Currency; Israeli Court Says - Ethereum World News

Bitcoin (BTC) is a Taxable Asset, Not a Currency; Israeli Court Says  Ethereum World News

An Israeli court has ruled that Bitcoin (BTC) is not a currency but a taxable asset given that it has not physical backing according to legal definitions.

Posted on 23 May 2019 | 4:33 pm

Founder of Defunct Cryptopia Launches New Crypto Exchange

Cryptopia

The founder of defunct cryptocurrency exchange Cryptopia, which entered liquidation following a hack in January 2019, has launched a new exchange called Assetylene.

The LinkedIn employment history for the founder of the failed New Zealand exchange, Adam Clark, indicates that he’s been working on Assetylene since September 2018, which is also when the exchange’s Twitter account went live. With fewer than 100 followers, the account is billed as representing “New Zealand’s most advanced crypto-currency exchange [sic].”

Once a highly prominent exchange in New Zealand, Cryptopia lost nearly 10 percent of its entire liquidity in a hack earlier this year. Attempts to salvage the business ultimately failed. On May 15, 2019, its liquidators formally announced that the company was defunct. At the time of this writing, hundreds of thousands of dollars worth of Cryptopia’s assets are still circulating in an easily tracked manner.

Seeing as Cryptopia did not fully close until May 2019, and Assetylene’s date of founding is listed in the preceding September, it may be that Clark had moved on to this new business well before Cryptopia’s collapse began. However, there’s also reason to believe that Clark set up the new exchange quickly, after Cryptopia’s hack had already occurred.

For one, an archived copy of the Assetylene site shows that it is based on the TradeSatoshi platform, which can set up exchanges within minutes. Furthermore, Clark’s own LinkedIn shows that he was TradeSatoshi’s senior software development engineer when Assetylene was first set up. More damningly, Assetylene has zero liquidity, is not listed on CoinMarketCap and its about page is empty with no trading data found on the site.

Assetylene may very well become a full-fledged exchange with time. However, given the time period that it has apparently remained inactive while Cryptopia was still viable and its current insufficiency, the jury’s still out.

This article originally appeared on Bitcoin Magazine.

Posted on 23 May 2019 | 4:16 pm

AT&T just made it possible to pay your phone bill with bitcoin - Engadget

AT&T just made it possible to pay your phone bill with bitcoin  Engadget

Have some spare bitcoin kicking around? You can put it toward your phone *service*. AT&T says it has become the first big US wireless carrier to accept crypto...

Posted on 23 May 2019 | 4:00 pm

Bitcoin could change the game for foreign aid - CNN

Bitcoin could change the game for foreign aid  CNN

With Bitcoin, you can send money directly to anyone in the world in a matter of minutes. As your funds move to the recipient, it's not possible for third parties to ...

Posted on 23 May 2019 | 3:46 pm

Robinhood Opens Trading for 7 Cryptocurrencies in New York

Five months after receiving a BitLicense, Robinhood is now offering ethereum and bitcoin trading in New York State.

Posted on 23 May 2019 | 3:45 pm

Russian Central Bank to Consider Gold-Backed Cryptocurrency

The Bank of Russia will consider the use of a gold-backed cryptocurrency to facilitate international settlements, according to its governor.

Posted on 23 May 2019 | 2:30 pm

Tabloid Columnist Wants Pal Donald Trump to Investigate ‘Bitcoin Manipulation Madness’ - CCN

Tabloid Columnist Wants Pal Donald Trump to Investigate ‘Bitcoin Manipulation Madness’  CCN

New York Post columnist John Crudele has urged President Donald Trump, China and the EU to conduct investigations into bitcoin's price manipulation.

Posted on 23 May 2019 | 1:52 pm

Japan Scrutinizing Crypto Exchanges Ahead of G20 Summit

Japan’s financial watchdog is said to be inspecting crypto exchanges over anti-money laundering measures ahead of June's G20 meeting.

Posted on 23 May 2019 | 1:30 pm

Decentralized Domain Registry Raises $4 Million From Draper, Boost VC

Unstoppable Domains says its decentralized registry can create a censorship-resistant internet, and big investors are backing the idea.

Posted on 23 May 2019 | 1:00 pm

DeFi Pioneer Compound Partners With Coinbase Wallet, Zerion for V2 Launch

For its Version 2 launch, crypto interest app Compound has partnerships with Coinbase Wallet, Zerion and a bridge to fellow DeFi leader Uniswap.

Posted on 23 May 2019 | 1:00 pm

Rep. Eric Swalwell Is Accepting Crypto Donations in Bid for US Presidency

Rep. Eric Swalwell is accepting donations in six cryptocurrencies to support his bid for the U.S. presidency in 2020.

Posted on 23 May 2019 | 12:00 pm

Price Dip Leaves Bitcoin Exposed to $7.2K Support

Bitcoin dived out of a narrowing price range on Wednesday, opening the doors for a deeper drop to $7,200.

Posted on 23 May 2019 | 11:00 am

Bitcoin: Institutions Are All Over It - Forbes

Bitcoin: Institutions Are All Over It  Forbes

Bitcoin's price is under pressure today and it is trading lower by -4.13 percent, at $7,626 at the time of writing this article. Bitcoin has lost nearly 0.2 percent of its ...

Posted on 23 May 2019 | 10:40 am

Swiss Watchmaker Franck Muller Launches ‘Functional’ Bitcoin Timepiece

Swiss luxury watchmaker Franck Muller has launched a limited-edition bitcoin timepiece dubbed “Encrypto” that comes with a cold wallet.

Posted on 23 May 2019 | 10:15 am

Bitcoin Purchases Roll Out to 2,200 US Coinstar Kiosks as Partnership Expands - Cointelegraph

Bitcoin Purchases Roll Out to 2,200 US Coinstar Kiosks as Partnership Expands  Cointelegraph

Bitcoin ATM operator Coinme has expanded its bitcoin (BTC) purchasing options for United States residents to cover 21 states, the company confirmed in a ...

Posted on 23 May 2019 | 10:00 am

P2P Bitcoin Trading Platform LocalBitcoins Leaves Iranian Crypto Traders Dry - CCN

P2P Bitcoin Trading Platform LocalBitcoins Leaves Iranian Crypto Traders Dry  CCN

LocalBitcoins, the go-to stop for direct peer-to-peer crypto trading, is ceasing services in Iran presumably due to western sanctions.

Posted on 23 May 2019 | 9:42 am

Japan Targets Bitcoin In G20 Anti-Money Laundering Push - Bitcoinist

Japan Targets Bitcoin In G20 Anti-Money Laundering Push  Bitcoinist

Ahead of next month's G20 summit, host Japan looks to tighten money laundering regulations, specifically targeting Bitcoin and cryptocurrency exchanges.

Posted on 23 May 2019 | 9:05 am

Coinstar Expands Bitcoin Buying Service to Cover 21 US States

Kiosk network Coinstar has expanded its bitcoin-buying service, adding around 100 new outlets and growing U.S. coverage to 21 states.

Posted on 23 May 2019 | 9:00 am

State Street’s Blockchain Lead Departs to Build Data Privacy Startup

Moiz Kohari, State Street's global chief technology architect, has left to build a new data privacy startup.

Posted on 23 May 2019 | 8:00 am

Bitcoin price analysis: BTC/USD under pressure after a strong sell-off - FXStreet

Bitcoin price analysis: BTC/USD under pressure after a strong sell-off  FXStreet

Bitcoin is trying to claw back some ground after a sharp sell-off during late Wednesday hours. The first digital asset has returned to the range above.

Posted on 23 May 2019 | 5:35 am

Crypto Market Approaching Next Break: BNB, Litecoin, Bitcoin Cash, TRX Analysis - newsBTC

Crypto Market Approaching Next Break: BNB, Litecoin, Bitcoin Cash, TRX Analysis  newsBTC

The crypto market cap is forming a significant breakout pattern, with negative moves in bitcoin (BTC) and Ethereum (ETH). BNB, litecoin, ripple, bitcoin cash, ...

Posted on 23 May 2019 | 5:02 am

Binance CEO CZ Is Suing VC Giant Sequoia for Reputational Damages

Binance CEO Changpeng Zhao is taking Sequoia Capital back to court, claiming the VC firm hurt his reputation.

Posted on 23 May 2019 | 2:40 am

Bitcoin Stuck In $7,000s: Analysts Claim BTC Could Collapse To The $5,000s - Ethereum World News

Bitcoin Stuck In $7,000s: Analysts Claim BTC Could Collapse To The $5,000s  Ethereum World News

At last, upward momentum for Bitcoin (BTC) has finally begun to slow. During this bout of non-action, analysts across the board have been doing their best to ...

Posted on 23 May 2019 | 1:30 am

Log Scale Monthly Bitcoin Price Chart Suggests Bear Market Was an Uptrend Pullback - newsBTC

Log Scale Monthly Bitcoin Price Chart Suggests Bear Market Was an Uptrend Pullback  newsBTC

Bitcoin price has recently found the bottom of its bear cycle, and has since shown a strong reversal back into a bull market that has taken many by surprise as to ...

Posted on 23 May 2019 | 1:13 am

Dorsey’s Square Crypto Seems Less About Crypto and All About Bitcoin - newsBTC

Dorsey’s Square Crypto Seems Less About Crypto and All About Bitcoin  newsBTC

Square Crypto is about to make its first official hire but will it focus on Bitcoin only or the wider digital asset space?

Posted on 22 May 2019 | 11:11 pm

10 Fintech Leaders Predict Bitcoin to End 2019 Above $9,500 - Bitcoinist

10 Fintech Leaders Predict Bitcoin to End 2019 Above $9,500  Bitcoinist

Ten prominent fintech experts shared their bitcoin price predictions and all agreed that BTC would close 2019 above $9,500, according to Finder.com.

Posted on 22 May 2019 | 11:04 pm

Japan Targets Bitcoin Exchanges for Money Laundering as G20 Looms - CCN

Japan Targets Bitcoin Exchanges for Money Laundering as G20 Looms  CCN

Japan plans to target bitcoin exchanges with new crypto regulations amid a sweeping crackdown on money-laundering ahead of the 2019 G20 Summit.

Posted on 22 May 2019 | 8:18 pm

NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate - Cointelegraph

NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate  Cointelegraph

A cryptocurrency trader at the New York Mercantile Exchange (NYMEX) said that bitcoin (BTC) will likely move back to $7,000 and consolidate soon in an ...

Posted on 22 May 2019 | 8:17 pm

Crypto Industry Celebrates Annual Bitcoin Pizza Day - newsBTC

Crypto Industry Celebrates Annual Bitcoin Pizza Day  newsBTC

Today marks the nine-year anniversary of the first ever reported transaction using Bitcoin to make a purchase. A Florida-based, early crypto supporter.

Posted on 22 May 2019 | 8:10 pm

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Here’s Why Gold Bull Peter Schiff is Blessing in Disguise for Bitcoin - newsBTC

Here’s Why Gold Bull Peter Schiff is Blessing in Disguise for Bitcoin  newsBTC

The economic atmosphere in the United States has changed drastically over the last six months. Ahead of last year's close, the stock market tanked,

Posted on 22 May 2019 | 7:43 pm

More Than Money: Bitcoin Blockchain As Global Data Verification System - Bitcoinist

More Than Money: Bitcoin Blockchain As Global Data Verification System  Bitcoinist

BitfuryExecutive Vice Chairman, George Kikvadze, explains the use-case for the Bitcoin blockchain as a secure data verification system.

Posted on 22 May 2019 | 7:09 pm

The Consensus 2019 Videos Are Live

Watch nearly every Consensus 2019 talk on CoinDesk right now.

Posted on 22 May 2019 | 6:45 pm

US Copyright Office Says It Does Not ‘Recognize’ Craig Wright as Satoshi

No, the U.S. government didn't officially recognize Craig Wright as Satoshi.

Posted on 22 May 2019 | 6:30 pm

EU Authorities Shut Down Bitcoin Transaction Mixer

A bitcoin transaction mixer has been seized and shut down by authorities in the European Union.

Posted on 22 May 2019 | 6:00 pm

EU Authorities Shut Down Bitcoin Transaction Mixer - CoinDesk

EU Authorities Shut Down Bitcoin Transaction Mixer  CoinDesk

The Dutch Financial Criminal Investigative *Service* has seized the website of a bitcoin transaction mixer in a crackdown involving Europol and other authorities.

Posted on 22 May 2019 | 6:00 pm

Tether Limited “Investing” in Bitcoin (BTC) is a Bullish Signal - newsBTC

Tether Limited “Investing” in Bitcoin (BTC) is a Bullish Signal  newsBTC

Tether and iFinex, the parent company, are controversial though they play a crucial role in the ecosystem. Despite their claim that every USDT in circulation is ...

Posted on 22 May 2019 | 5:02 pm

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7,000 BTC Lost in Hangzhou Scam

Lost, Stolen Coins

This article was originally published by 8btc and written by Vincent He.

Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that they were deceived by two young men, named Zhou Yi and Li Xiang, who allegedly stole nearly 7,000 bitcoin through exchanging or borrowing.

According to the victims, Zhou and Xiang had claimed on the internet that they could exchange bitcoin as futures and provide interest. The victims trusted them, as some preliminary orders in small amounts were delivered on time. As the pair could offer bitcoin at prices lower than the market rate and delivery seemed stable, they soon collected several thousand orders.

“I began OTC [over-the-counter] Bitcoin trading since 2017, unexpectedly I was cheated by more than 2 million yuan this year,” Mr. Wang, one of the alleged victims, said. “As a senior bitcoin speculator, I always buy low and sell high, I trust my peers.”

But Mr. Wang was not alone, as there appear to be more than 100 victims in this case. It has been reported that more than 7,000 BTC, equating 300 million yuan (≅$43.4 million), was involved.

This apparent bitcoin trade scam was conducted in two WeChat groups. If someone wanted to buy bitcoin, they could negotiate privately in the groups and transfer the money to a designated bank account after confirmation. One or two days later, Zhou Yi would send bitcoin to the buyer’s designated wallet.

”I had been trading with them for more than a year,” Mr. Zhang, another one of the victims, said. “I first traded with them last summer and then bought bitcoins from them three times a week until they lost touch in April. The amount of each transaction [was] about two or three million yuan. In nearly a year, the volume of transactions has reached billions of yuan. Their price [was] very low. I earned nearly one million yuan before.”

Aside from trading bitcoin as futures, the pair was also borrowing bitcoin and promising interest. They gave 100 to 120 yuan worth of BTC to victims as interest, so 90 percent of the victims would deposit bitcoin into their account. When victims pushed them for the release of these bitcoin, they would always transfer some money as compensation before disappearing.

Now Zhou and Xiang have been arrested for “illegal public deposit absorption” and the case is pending further investigation. The biggest concern for victims is how to determine the nature of the case. Some of the victims are not satisfied with the initial charges.

“We just want to give the police more information to prove that they knew at the beginning of March that they couldn’t issue coins, and that the subsequent transactions were not only illegal public deposit absorptions, but also a fraud,” a victim said.

So, where is the legal boundary for OTC Bitcoin trading?

“It is legal to own bitcoins in China,” said Sa Xiao, a council member at the Bank of China Law Research Association, as cited by The Beijing News. Additionally, Xiao considers the occasional exchange of bitcoin between individuals as legal.

This article originally appeared on Bitcoin Magazine.

Posted on 22 May 2019 | 4:27 pm

Australian Civil Servant Caught Mining Crypto With Government Hardware

Miners

The Australian Federal Police (AFP) has charged a government employee alleged to have misused government IT infrastructure for personal cryptomining operations, per a press release.

In the release, the AFP states that the unnamed 33-year-old man is an IT contractor with the Australian government, who took advantage of his access to “manipulate programs to use the processing power of the agency’s computer network for cryptocurrency mining.”

For his effort, the report claims he earned AU$9,000 (around $6,200) from the mining operation.

He was subsequently charged for the unauthorized modification of restricted data and the unauthorized modification of data to cause impairment. The charges mentioned carry a maximum sentence of 2 years and 10 years, respectively.

Speaking on the matter, Acting Commander Chris Goldsmid, manager of cybercrime operations, said the civil servant in question will be prosecuted for his actions.

“Australian taxpayers put their trust in public officials to perform vital roles for our community with the utmost integrity,” Goldsmid said, per the release. “Any alleged criminal conduct which betrays this trust for personal gain will be investigated and prosecuted.”

Earlier this year, Matthew McDermott, an IT manager for the Florida Department of Citrus (FDoC), was arrested for using the department’s computers to mine cryptocurrencies. According to the report, McDermott used his employer’s computers to mine various digital assets, particularly bitcoin and litecoin. His actions were said to have cost the State Department about $825 in additional utility bills from October 2017 to January 2018.

This article originally appeared on Bitcoin Magazine.

Posted on 22 May 2019 | 3:47 pm

Bulgaria Betting on Bitcoin, Holds Over 200,000 BTC in Reserve - BeInCrypto

Bulgaria Betting on Bitcoin, Holds Over 200,000 BTC in Reserve  BeInCrypto

Bulgaria has been patiently stockpiling large amounts of Bitcoin. The country allegedly has over 200000 BTC seized from dark web operators.

Posted on 22 May 2019 | 3:35 pm

Is Bitcoin Too Early For Mainstream Adoption? Study Suggests So - newsBTC

Is Bitcoin Too Early For Mainstream Adoption? Study Suggests So  newsBTC

College students at the University of Colorado Boulder were asked if they would rather have one dollar or one Bitcoin. Initially, the majority opted to.

Posted on 22 May 2019 | 2:44 pm

This Painfully Boring CNBC Crypto Debate Is Bullish as Hell for Bitcoin - CCN

This Painfully Boring CNBC Crypto Debate Is Bullish as Hell for Bitcoin  CCN

By CCN: If you're looking for reasons behind bitcoin's recent price surge, this video tells the whole story. Because it's so completely dull. Has bitcoin gone too far, ...

Posted on 22 May 2019 | 2:14 pm

Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains - Cointelegraph

Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains  Cointelegraph

An Israeli judge has ruled that bitcoin (BTC) is an asset and not a currency, local news site Globes reported on May 21. The judgment is significant because it ...

Posted on 22 May 2019 | 1:54 pm

Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend - Cointelegraph

Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend  Cointelegraph

Most of the top 20 cryptocurrencies are reporting moderate losses on the day as bitcoin falls under the $7900 mark again.

Posted on 22 May 2019 | 1:20 pm

Bitcoin Remains On the Defensive With Price Below $8K - CoinDesk

Bitcoin Remains On the Defensive With Price Below $8K  CoinDesk

BTC has traded in a narrowing price range over the last 48 hours, aborting the immediate bullish view put forward by Sunday's double-digit gains. A range ...

Posted on 22 May 2019 | 1:15 pm

Turkey’s Collapsing Currency Will Drive Investors to Bitcoin, Says Max Keiser - CCN

Turkey’s Collapsing Currency Will Drive Investors to Bitcoin, Says Max Keiser  CCN

By CCN: Bitcoin bull Max Keiser has hinted that as Turkey's economy worsens, Turks could turn to Bitcoin as a hedge. In a tweet, Keiser said that Bitcoin 'will ...

Posted on 22 May 2019 | 12:22 pm

Twitter's Jack Dorsey And Square Are Making Mass Bitcoin Adoption 'Inevitable' - Forbes

Twitter's Jack Dorsey And Square Are Making Mass Bitcoin Adoption 'Inevitable'  Forbes

Jack Dorsey, the chief executive of micro-blogging social network Twitter, is taking further steps toward incorporating bitcoin and cryptocurrencies into his ...

Posted on 22 May 2019 | 9:50 am

Owning Bitcoin Legal Despite Govt Trading Ban, Says Bank of China Council - CCN

Owning Bitcoin Legal Despite Govt Trading Ban, Says Bank of China Council  CCN

By CCN: According to Sa Xiao, a Council Member at the Bank of China's Law Research Association, it is legal for individuals to own bitcoin in China despite the ...

Posted on 22 May 2019 | 7:34 am

Bitcoin? Bitcoin Cash? Bitcoin Satoshi’s Vision? Will the real Bitcoin please stand up? - AMBCrypto News

Bitcoin? Bitcoin Cash? Bitcoin Satoshi’s Vision? Will the real Bitcoin please stand up?  AMBCrypto News

From Cash to Satoshi's Vision, to Private, to Gold, to Atom and to Adult, the prefix Bitcoin has been used to depict and more commercially, sell and market a host ...

Posted on 22 May 2019 | 6:38 am

The Man Behind Bitcoin Pizza Day Is More Than a Meme: He’s a Mining Pioneer

The Man Behind Bitcoin Pizza Day Is More Than A Meme: He’s a Mining Pioneer

Bitcoin was barely a year old and trading for less than a penny. Excitement for the world’s first cryptocurrency was still largely bottled up in the infant hobbyist forum Bitcointalk, itself barely half a year old. Here, OGs effervescent with enthusiasm compared notes on economic philosophy, technical knowledge and the new cryptographic beast that Satoshi Nakamoto created. Satoshi himself was still active on the forum, too, as the earliest adopters shared their visions for the future of money.

Though, if that future was going to be realized, something was still missing: No one had ever spent bitcoin on anything. Darknet markets wouldn’t exist for a few years and the only transactions users facilitated (besides peer-to-peer ones on the network) were done in cash.

Perhaps this is why Laszlo Hanyecz decided it was time to make history. On May 18, 2010, the Bitcoin Core contributor asked fellow enthusiasts on Bitcointalk if someone would “make [two large] pizzas yourself and bring it to my house or order it for me from a delivery place.” He offered 10,000 BTC for the service and, though it took four days, he got his wish.

One prescient user cautioned that 10,000 bitcoin was “quite a bit” — around $41 at the time. And, of course, “quite a bit” sounds like an absurd understatement today; seven years later, at bitcoin’s all-time high, that sum would be worth $200,000,000.

To Hanyecz, who told Bitcoin Magazine that he spent something near 100,000 BTC on pizza that year, the purchase was just another drop in the bucket.

“We would just give people bitcoin on the forum,” he said — sometimes 100, sometimes 1,000 BTC at a time.

“I wanted to do the pizza thing because to me it was free pizza,” Hanyecz explained. “I mean, I coded this thing and mined bitcoin and I felt like I was winning the internet that day. I got pizza for contributing to an open-source project. Usually hobbies are a time sink and money sink, and in this case, my hobby bought me dinner.”

Not Just “That Pizza Guy”

The May 22, 2010, transaction would be etched in stone, as much for the symbolic significance of the purchase as the gaffe in Hanyecz spending the future-equivalent of Kanye West’s net worth on two large Papa John’s pizzas.

But there’s more to Hanyecz’s story than this transaction, even though the legendary pizza purchase has overshadowed his other achievements in the Bitcoin space. The developer is doing just fine despite the purchase, actually, mainly because of his other (and vastly more important) contribution to Bitcoin’s development: GPU mining.

Before revolutionizing mining, the software engineer, who was introduced to Bitcoin in late 2009, was a member of its first class of contributors. As he humbly put it, Hanyecz “had been working on [bitcoin], fixing bugs and things like that.” His “minor” contributions include building and deploying the first macOS Bitcoin Core release.

They also include revamping the landscape of mining. Hanyecz first introduced the community to GPU mining in May 2010, which he saw as simply contributing to something that was very much still an experiment and not yet a movement.

“On [Bitcointalk] at the time, there weren’t really any users,” he recalled. “There were 50 people, maybe 100. It was a lot different then. It was like, ‘Hey, do you want to contribute to an open source project?’ It wasn’t ‘Hey, do you want money to change the world?’”

At that time, the only bitcoin mining was done on the backs of CPUs — the processors that make personal computers tick. No one had contrived of a more efficient way to produce hashes. As he set out to improve this efficiency, Hanyecz admitted that he didn’t fully comprehend “how fast the [mining] difficulty adjusted” (because no one had created a miner powerful enough to truly test this mechanism). Still, he stewed over a way to produce more hashes more quickly in the hope of extracting more value from the network.

This is what led him to devise a mining code using GPUs. Graphics cards, as they are commonly called, animate our computer screens with color and, well, graphics. Hanyecz deduced that these pieces of hardware could do more computation at once than a CPU and so “fit well with trying to brute force hashes” to mine blocks.

“GPUs, what they’re good at, is they can do a lot of things in parallel, but they have to be very simple things and it has to be the same thing,” he explained. “So, you can add 10 to a thousand different numbers at the same time. Whereas a general, regular CPU is much more flexible. It can do a lot of things, but it has to do these one at a time. The mining problem lent itself perfectly to GPUs.”

His discovery was lucrative. It gave him a tenfold increase in hashpower — and this using a 2010 Macbook!

But his discovery didn’t go over so well with crypto’s progenitor. Satoshi was always a bit “at arm’s length” in those days, Hanyecz said, but after he shared the GPU mining code with the creator, Satoshi made his opinion known that he thought it was too advanced for Bitcoin’s development.

“A big attraction to new users is that anyone with a computer can generate some free coins,” Satoshi wrote in an email to Hanyecz. “GPUs would prematurely limit the incentive to only those with high-end GPU hardware. It's inevitable that GPU compute clusters will eventually hog all the generated coins, but I don't want to hasten that day.”

“That’s when I was like, ‘Man, I feel like I crapped up your project. Sorry, dude,’” Hanyecz told Bitcoin Magazine with a laugh. “He was concerned that come people might be discouraged because they can’t mine a block with a CPU. So, I stopped advertising it after that.”

Even though he tried to pull the plug, Hanyecz’s invention began to propagate, opening up a Pandora’s box of hashrate on the network. Soon after he debuted the code on Bitcointalk, other users repurposed it to create standalone versions for Windows, Mac and Linux. Hanyecz released the seminal code as a patch into Bitcoin Core’s source code “because that was the easiest way to hack it in,” he said. These new versions, though, were separated from Bitcoin Core entirely and existed as their own clients.

The cat was out of the bag, and Hanyecz no longer had the competitive edge he was looking for when he coded the new mining method.

“I thought that having more processing power would secure the network. But I didn’t understand that I should have kept it to myself. It would have made more sense to be greedy,” he joked.

Life After Pizza

Despite misconceptions that Hanyecz eschewed Bitcoin following the pizza transaction, he’s still around. He just isn’t active in Bitcoin’s development anymore.

“I’m just another bitcoiner,” says the man who changed the mining landscape indelibly.

Bewilderingly, nearly 10 years later, that same man is hardly recognized for this contribution. Instead, most people know Laszlo Hanyecz for the historic pizza transaction, an industry meme that dwarfs the more groundbreaking work he delivered in Bitcoin’s stumbling infancy. This might be a consequence of his invention coming at a time when Bitcoin’s following was no more than a few hundred enthusiasts. Or perhaps it’s that the shock value of his purchase, in the age of clickbait, outweighs the technical achievements on his cypherpunk résumé.

Hanyecz, when asked if he ever tires of people asking him about the purchase, says that he sees it differently.

“I think it’s funny when people look at it that way,” he explained. “I think it’s one of those things where it’s a good catchy thing to get people’s attention. But I think anyone who gets genuinely interested [in Bitcoin] understands. It’s the same thing as, oh, let me go back in the past and buy Apple stock.

“At the time it was Monopoly money. Nobody cared — people would just give you some, so I didn’t figure I needed to be greedy with it.”

The father of GPU mining seems to approach the infamous pizza purchase, and questions surrounding it, the same way he approaches Bitcoin: with good-humored aplomb, rather than bitter regret. In fact, he doesn’t see it as a loss at all; he sees it as a win.

“A trade happens because both parties think they’re getting a good deal,” he said. “I felt like I was beating the internet, getting free food. I was like, ‘Man, I got these GPUs linked together, now I’m going to mine twice as fast. I’m just going to be eating free food; I’ll never have to buy food again.’”

Hanyecz has maintained this upbeat outlook even as bitcoin has catapulted past all-time high after all-time high throughout the years. This is probably because his treatment of Bitcoin hasn’t changed since he first joined the open-source community in 2010. To him, it’s still a hobby, not a career.

“Honestly, I just kinda stay out of it because there’s so much buzz,” he said. “I don’t want that kind of attention, and I certainly don’t want people thinking I’m Satoshi … I just figure it’s better to keep it as a hobby. I have a regular job. I don’t do Bitcoin full time. I don’t want it to be a professional thing that I’m on the hook for. I’m glad that I was involved to the extent that I was.”

We’re glad he was, as well. After all, he gave us Bitcoin Core for MacOS and GPU mining — oh, and all the pizza memes, too. They may not be as significant or impressive as Hanyecz’s other contributions, but they do make every May 22 for this community memorable (and delicious).

This article originally appeared on Bitcoin Magazine.

Posted on 22 May 2019 | 2:44 am

Ron Paul: The U.S. Dollar Is In a Bubble, Bitcoin An Alternative - newsBTC

Ron Paul: The U.S. Dollar Is In a Bubble, Bitcoin An Alternative  newsBTC

Former US presidential candidate and congressman Ron Paul is a regular critic of the United States Federal Reserve and of the country's economic policy. In the ...

Posted on 22 May 2019 | 1:09 am

Winklevoss: Sitting on the Sidelines is Crazier Than Investing in Bitcoin - Bitcoinist

Winklevoss: Sitting on the Sidelines is Crazier Than Investing in Bitcoin  Bitcoinist

Prominent Bitcoin investor and Gemini Exchange co-founder Cameron Winklevoss says that the future of money is currently being built with Bitcoin and crypto ...

Posted on 22 May 2019 | 12:01 am

Study: Bitcoin Derivatives Exchanges Register Record Trading Volumes - Cointelegraph

Study: Bitcoin Derivatives Exchanges Register Record Trading Volumes  Cointelegraph

According to Diar's recent report, institutional traders have registered record high volumes on bitcoin derivatives exchanges.

Posted on 21 May 2019 | 10:20 pm

Analysts Believe Bitcoin is Likely to Surge Past $9,000 in Near Future as Upwards Momentum Builds - newsBTC

Analysts Believe Bitcoin is Likely to Surge Past $9,000 in Near Future as Upwards Momentum Builds  newsBTC

The crypto markets have undoubtedly been in an uptrend over the past several weeks that has allowed Bitcoin to set *fresh* year-to-date highs in the mid-$8,000 ...

Posted on 21 May 2019 | 10:01 pm

New York Post Blasts Bitcoin Based on, Well, Nothing at All - newsBTC

New York Post Blasts Bitcoin Based on, Well, Nothing at All  newsBTC

In a wonderfully verbose display of journalistic prowess, the New York Post has once again attacked Bitcoin. In its latest piece on the crypto asset,

Posted on 21 May 2019 | 9:00 pm

Op Ed: Lightning Network Consensus Is a Marketplace and That’s Okay!

Lightning

To Bitcoin or Not to Bitcoin

During the “scaling debate” before the SegWit2X user-activated soft fork (UASF), Bitcoin businesses were getting their first bitter taste of Bitcoin’s censorship resistance. They wanted change to be easier. They wanted their influence to be effective. They wanted to take shortcuts. Unfortunately for them, Bitcoin was created to resist control. Entities that seek to position themselves against Bitcoin are choosing a path of perpetual hypocrisy and frustration.

Those who follow me in interviews might be tired of hearing this, but each Bitcoin business has the choice of making Bitcoin its best friend or its worst enemy. The signers of the New York Agreement chose to make Bitcoin their biggest problem and, to this day, most of them have only gotten worse in this regard.

How can you tell the difference between a genuine Bitcoin business and an enemy? It’s simple! Sincere Bitcoin businesses focus on providing utility to Bitcoin and Bitcoiners, whereas antagonistic businesses maximize their ability to exploit their customers by securing as much of their value into their own custody as possible. That is the battle line. They are actors that want to compete with the old system, but there are true Bitcoin entities that work to delete the old system instead.

Back then, the big blockers claimed they merely wanted lower fees to make room for the billions of people clamoring at the imaginary gates of Bitcoin. But most of these businesses waited forever to activate SegWit, and some major ones still don’t even batch properly. They pollute our blockchain, withholding these efficiencies from their customers. Instead, they barrage new entrants with traps upon arrival, literally bribing them to learn about useless shitcoins and tokens.

Custody-preferring KYC businesses are wolves in sheep’s clothing seeking to liberate you from your BTC, but they should be seeking to liberate you from custodial banking.

Bitcoin is here to delete custodial trust and provide a new circular economy.

We’re Gonna Eat Their Lunch

Exchanges and other custodians basically acted as Bitcoin’s primitive second layer. They added central efficiencies, but the risks were exchange hacks, exit scams, closed accounts, censorship and surprise-KYC requirements.

Fast forward to the present and we have a new paradigm that has grown on top of Bitcoin. The Lightning Network anchors onto Bitcoin, providing a new way to transact. It is faster, less expensive, and capable of handling higher capacity. This is the first time we can truly use Bitcoin in a peer-to-peer fashion, instantly, within a much, much different protocol environment, an environment where you simply do not need to give trusted custody to receive centralized services.

But the former NYA SegWit2X players are mostly ignoring Lightning, with the most notable exception being Bitfury and their Peach project. More than 50 businesses supposedly wanted better Bitcoin scaling and supported forking Bitcoin. Now the great majority of those businesses aren’t helping with development, funding, products or services for the Lightning Network.

I’m not convinced fiat businesses like Coinbase can convert from being enemies into allies of Bitcoin. They are deeply invested into the State and traditional finance, employing strategies that leverage their relationships with them. They don’t understand how to design a new type of business that can actually profit from providing utility to Bitcoin. Thankfully, some of us do get it, and we’re gonna eat their lunch.

I’m so excited about all the ways we can build on Lightning. The fact that most Silicon Valley, VC-backed businesses aren’t interested in Lightning is embarrassing. We have a huge head start, but we need to start behaving more intentionally and strategically to capture it.

Dude, Where’s My Revolution?

Big blockers like to taunt Lightning supporters by pointing out how Lightning Network completion seems to perpetually be 18 months away. It’s an unfair perspective considering how far we have come. It’s probably silly to think programmable money will ever be “done” at all.

However, we have to be careful not to prove them right. In my opinion, Bitcoin and Lightning are at a turning point, and it is finally time to begin the Bitcoin Revolution. We have to ride the line between endlessly making tech and endlessly making toys. It’s time to start solving problems for people with actual products and stop making features for the sake of demonstrating tech. It’s time to start helping people break the rules with Bitcoin and to make Lightning irresistible to businesses and consumers.

The war to delete custodial Bitcoin as a concept has begun. The foundation for a circular Bitcoin economy is being laid out as I type. Pick up a hammer and get in here!

We keep saying that blockchain-not-Bitcoin is stupid. We keep mocking ICOs. But these projects keep getting all the investment dollars! That is about to change.

The Agile Bitcoin Business

In this new economy, a new type of Bitcoin business is emerging that will address following product cycle: Trust > Hybrid Trust > Trustless.

Until now, many businesses focused on providing trusted services that require or encourage the customer to relinquish custody of their coins. Lightning expands business opportunities to enable hybrid, or momentary, trust, as well as trustless services.

I believe this will result in an environment where smart entrepreneurs can identify products that people need in the interim between now and when all commerce can be trustless, advancing their products to require less and less trust over time with new technologies.

The Center for Decentralization

Lightning removes the trust aspect of centralization and creates new dynamics to leverage trust, reducing risks to mere inconveniences. This is a design tool for us to utilize. This is what Bitcoin commerce has been waiting for.

Familiarize yourself with the concept of hybrid trust: the temporary trust a business earns via reputation and their incentive to maintain it. This might sound like babble upon first reading it, but you can look at Bitrefill’s Thor Turbo channels for a great example.

People need to trust that Bitrefill will actually deliver the turbo channel when they purchase it, that Bitrefill will deliver the correct amount of Bitcoin in their channel, and that Bitrefill will relay any attempts to use the channel. But all of that happens in a moment. Then, Bitrefill delivers the channel instantly, and lets you spend your coin instantly. If you get skittish or Bitrefill doesn’t relay your spends, you can close the channel. You are free to opt out or in at any time, and Bitrefill only has custody of your BTC for the brief moment when you are purchasing the channel.

Thor Turbo channels can also follow the product path I mentioned earlier by going from a service purchased within the Bitrefill.com platform, to a Bitrefill white label API service, to a native protocol service in every node that could also be mapped when routing to instantly open new paths. Still with me?

Bitcoin was always a push payment system, but Lightning allows businesses to get creative with it because we don’t have to break the protocol to change rules for new products and services.

Consensus Is Not Required in the Lightning Network

The landscape on the Lightning Network is such that it allows for subnetworks and external networks to be interoperable. While there is a BOLT specification process, it is only necessary if you want to get a feature into the consensus of cooperating developers, not the consensus of users.

The nature of the Lightning Network being truly peer-to-peer allows for you to have special rules with any peer or set of peers. This is a feature Bitcoin’s base layer isn’t very good at. Use it.

The Lightning Network Protocol Is Market Driven

Here is an example of a recurring question I overheard at the New York Blockchain Week conferences last week:

“When do you think they will raise the Lightning channel size limit?”
“When Lightning Labs is ready, I guess.”

I have tons of respect for Lightning Labs and everyone on that team. I met many of them for the first time last week, and it was truly a delight to talk shop with them. I have so much to thank them for, but I cannot allow this misconception to grow.

There is no such thing as consensus on the Lightning Network; instead, we have compatibility. That means you can literally break the rules of the majority, as long as there are other people that have an incentive to break the rules with you.

If you want bigger channels, make them bigger. You do not need permission, you need cooperation. You do not need consensus, you need incentive.

Let me let you in on a little secret. Objectively speaking, Bitrefill is running the most economically relevant nodes on the Lightning Network and demonstrating the concept of a Lightning Service Provider (LSP) in its early stages by creatively leveraging hybrid trust to provide utility to real consumers.

Lightning payments are currently at 5 percent of unique payments received by Bitrefill, growing at a rate of ~35 percent monthly.

People are asking a lot from us and putting some pretty big expectations on our shoulders. A little bit of that is our fault for being Lightning cheerleaders in the media, but most of it is just pure natural market-demand behavior. Users are using our platform to secure real utility.

I am surrounded by all of this every day, and now all kinds of cool observations are becoming apparent to me. We don’t have to perform acrobatics to route transactions because everyone already likes being connected to us. We don’t have to question whether to do more with Lightning because the market is quite literally demanding it.

We don’t have to wait for permission to make new Lightning products.

It sounds scary, doesn’t it? Bitcoin has a playground now, and it’s kind of a big deal.

While decentralization is very necessary to make Bitcoin work, it is not necessary to advance Lightning’s usefulness.

Competition, Cooperation and Consolidation

I see a LOT of Lightning projects, wallets, games, labs and businesses popping up, but I’d like to see some consolidation and cooperation, both for efficiency and for the users’ sake. I do not want to use a different app for everything, nor do I want any of my favorite apps to be abandoned.

If Lightning is a marketplace of implementations and services, that means there will be winners and losers. Entities are competing for funding, users and overall uptake within the network.

These dynamics are evident at Bitrefill already. Some of our nodes use the Eclair implementation because the other implementations don’t support the tech necessary to provide Thor Turbo channels. Turbo channel buyers have to use Bitcoin Lightning Wallet on Android for the same reason. Should Bitrefill lobby all wallets and implementations to add support? Should we submit a BOLT when we already know some developers don’t appreciate this feature? Should we wait for Bitcoiners to complain to their favorite wallet providers to implement support? Should we make our own wallet and skip these concerns?

I’m not sure if cooperation will merely result in consolidation or if it can transcend competition in this environment, but I’m sure everyone will try all angles to stay agile.

Now that Bitcoin and Lightning can actually advance in a path that the market demands, we should be more strategic about the projects we choose to invest our time and money on. Start thinking like a product manager, UX designer and business development person all at once. Zoom out, plan and be intentional.

I hope no one sees this post as hostile to Bitcoin or anyone involved in Lightning Network development. I’m trying to share my observations in hopes they will accelerate Bitcoin’s inevitability.

If I have time, I will do a follow up post going deeper into the interesting kinds of products you can create if you leverage a little centralization and some of Lightning’s unique qualities.

… Or, I will keep the ideas to myself and get back to work!

This article originally appeared on Bitcoin Magazine.

Posted on 21 May 2019 | 6:10 pm

IRS Commissioner Makes Crypto Tax Clarity a Priority

IRS

The U.S. Internal Revenue Service (IRS) is planning to overhaul its methods for determining the federal taxes due on cryptocurrency payments to improve clarity for taxpayers.

The decision stems from the recent attempt by Minnesota Representative Tom Emmer to pass legislation reforming the way that hard forks and the resultant “forkcoins” are viewed by tax agencies. Joined by members of his “Blockchain Caucus,” Emmer’s initial attempt to pass the bill failed in September 2018 and he has promised to reintroduce a similar bill in May 2019.

On April 11, 2019, Emmer and the Blockchain Caucus sent an open letter to IRS Commissioner Charles Rettig drawing attention to their concerns about forkcoins under the U.S. tax code and raising more general questions about crypto tax reform.

On May 16, 2019, Rettig responded with an open letter to Congressman Emmer, thanking him for his request for more clarity around cryptocurrency taxes.

“I share your belief that taxpayers deserve clarity on basic issues related to the taxation of virtual currency transactions and have made it a priority of the IRS to issue guidance,” Rettig wrote. “Specifically, your letter mentions (1) acceptable methods for calculating cost basis; (2) acceptable methods of cost basis assignment; and (3) tax treatment of forks. We have been considering these issues and intend to publish guidance addressing these and other issues soon.”

As a show of good faith, Rettig also invited Emmer and the members of the Blockchain Caucus to contact him and his office with any questions they may have about the IRS’ future efforts.

This article originally appeared on Bitcoin Magazine.

Posted on 21 May 2019 | 5:54 pm

Dutch Man Arrested Over $2.2 Million Bitcoin Mining Fraud - CoinDesk

Dutch Man Arrested Over $2.2 Million Bitcoin Mining Fraud  CoinDesk

A 33-year-old man in the Netherlands has been arrested for bitcoin mining fraud worth over €2 million ($2.2 million). Dutch tax authority's investigative ...

Posted on 21 May 2019 | 5:30 pm

Dutch Man Arrested for $111 Million Fake Mining Scheme

News Bit: Netherlands

On March 21, 2019, Dutch news outlet NL Times reported that “Berry van M.,” a 33-year-old Dutch businessman and the operator of now-defunct trading platform Koinz Trading, has been arrested on charges of deceiving investors with a bogus bitcoin mining scheme.

The report claims that van M. was the director of companies that sold “computers for mining Bitcoin” since 2017 and that he “managed the computers in a so-called ‘mining farm.’” He convinced investors that they would receive returns of 0.3 BTC per month. But when the investors did not receive these funds and found that they could not get their hands on the hardware they had invested in, they contacted the police.

In total, the report claims that van M. raised investments totaling about €100 million (approximately $111 million). But instead of using the investments to purchase mining rigs, he used them to bankroll a lavish lifestyle.

“The man spent the money received from investors on all kinds of luxury items like cars, motorbikes, traveling and gambling,” per the report.

This article originally appeared on Bitcoin Magazine.

Posted on 21 May 2019 | 4:56 pm

Of Course, The IRS is Updating Its Bitcoin Tax Guidelines as Price is Rising - Bitcoinist

Of Course, The IRS is Updating Its Bitcoin Tax Guidelines as Price is Rising  Bitcoinist

With Bitcoin spiking more than 120 percent since the start of 2019, the U.S. Internal Revenue *Service* (IRS) says it is readying an updated set of guidelines to ...

Posted on 21 May 2019 | 3:06 pm

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This Bitcoin Rival Just Doubled In Value--Here's Why - Forbes

This Bitcoin Rival Just Doubled In Value--Here's Why  Forbes

Bitcoin rival bitcoin SV, which split from another bitcoin offshoot in a bitter civil war late last year, has suddenly leaped in value—jumping a little over 120% ...

Posted on 21 May 2019 | 2:46 pm

Bitcoin Approaches $8,000 as Bitcoin SV Doubles in Value - Cointelegraph

Bitcoin Approaches $8,000 as Bitcoin SV Doubles in Value  Cointelegraph

Tuesday, May 21 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) approaches the $8,000 mark ...

Posted on 21 May 2019 | 1:53 pm

Why JPMorgan Chase Suddenly Found “Intrinsic Value” in Bitcoin - newsBTC

Why JPMorgan Chase Suddenly Found “Intrinsic Value” in Bitcoin  newsBTC

Banking giant JPMorgan Chase & Co. is not much of a bitcoin fan. The $2.63-trillion behemoth found itself on the opposite side of cryptocurrencies.

Posted on 21 May 2019 | 1:13 pm

Bitcoin's Repeated Failures to Pass $8.3K Raise Risk of Price Pullback - CoinDesk

Bitcoin's Repeated Failures to Pass $8.3K Raise Risk of Price Pullback  CoinDesk

Bitcoin risks a price pullback in the short-term, given the signs of bullish exhaustion around $8,300. A UTC close below $7,581 would validate a bearish ...

Posted on 21 May 2019 | 11:15 am

Bitcoin Rebounds To $7,900, Why Analysts Expect Bullish Continuation - newsBTC

Bitcoin Rebounds To $7,900, Why Analysts Expect Bullish Continuation  newsBTC

The Bitcoin (BTC) bulls have done it. They have entirely shaken off last week's flash crash, which saw BTC plummet to $6100 on Bitstamp and $6500 on.

Posted on 21 May 2019 | 11:02 am

NYSE Arca Files Proposed Rule Change with SEC for Bitcoin-, T-Bills-Backed Investment Trust - Cointelegraph

NYSE Arca Files Proposed Rule Change with SEC for Bitcoin-, T-Bills-Backed Investment Trust  Cointelegraph

NYSE Arca has filed a proposed rule change with the United States Securities and Exchange Commission (SEC) for an application to list shares in a bitcoin ...

Posted on 21 May 2019 | 9:33 am

Bitcoin Price Chart: Technical Indicator Gives 5th Ever Parabolic Signal - newsBTC

Bitcoin Price Chart: Technical Indicator Gives 5th Ever Parabolic Signal  newsBTC

While Bitcoin price is struggling with overhead resistance at the moment and taking a much needed breather from its bullish rally that began in early.

Posted on 21 May 2019 | 12:02 am

Bitcoin: A Hedge for Trump's China Trade War? - Fortune

Bitcoin: A Hedge for Trump's China Trade War?  Fortune

The price of "digital gold" cryptocurrency Bitcoin thrives in a world wracked with uncertainty over President Trump's trade war with China.

Posted on 20 May 2019 | 10:03 pm

NYSE Arca Seeks Rule Change to List ETF Backed by Bitcoin and T-Bills - CoinDesk

NYSE Arca Seeks Rule Change to List ETF Backed by Bitcoin and T-Bills  CoinDesk

NYSE Arca has formally applied to the Securities and Exchange Commission (SEC) for a rule change that would allow it to list shares in a proposed bitcoin ...

Posted on 20 May 2019 | 9:57 pm

Indian Bitcoin Trader Commits Suicide Over Losses Trading Crypto for Local Officials - newsBTC

Indian Bitcoin Trader Commits Suicide Over Losses Trading Crypto for Local Officials  newsBTC

A Bitcoin trader from India has taken his own life after being threatened by senior police in relation to losses he incurred whilst trading crypto assets on their ...

Posted on 20 May 2019 | 9:06 pm

With Bitcoin Halving a Year Away, 60% Think Price Will Go Up From Here - Bitcoinist

With Bitcoin Halving a Year Away, 60% Think Price Will Go Up From Here  Bitcoinist

Bitcoin halving, one of the most anticipated events throughout the entire cryptocurrency community is estimated to be 365 days from now. As it closes in, a new ...

Posted on 20 May 2019 | 8:03 pm

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Bitcoin hit $8000 again. What's behind the rise - CNN

Bitcoin hit $8000 again. What's behind the rise  CNN

New York (CNN Business) Bitcoin just surged past $8,000 on Tuesday, hitting its highest mark since last July. It tapered off slightly by mid-afternoon, but is still ...

Posted on 20 May 2019 | 5:04 pm

Billionaire Tim Draper Stands by Bitcoin $250K Prediction: 'Buy the Rebound' - TheStreet.com

Billionaire Tim Draper Stands by Bitcoin $250K Prediction: 'Buy the Rebound'  TheStreet.com

Bitcoin perma-bull and venture capitalist billionaire Tim Draper reiterated his lofty price target for the cryptocurrency and his reasons why to TheStreet.

Posted on 20 May 2019 | 3:26 pm

South Korean Bitcoin Exchanges Post Highest Fiat Influx - newsBTC

South Korean Bitcoin Exchanges Post Highest Fiat Influx  newsBTC

An average bitcoin investor in South Korea has dumped more fiat money than the one in other countries, reveals CryptoCompare. The London-based data.

Posted on 20 May 2019 | 3:07 pm

Bitcoin Falls Below the $7,900 Mark as US Stock Market Sees a Minor Downturn - Cointelegraph

Bitcoin Falls Below the $7,900 Mark as US Stock Market Sees a Minor Downturn  Cointelegraph

Most of the top 20 cryptocurrencies are reporting moderate losses on the day as bitcoin has fallen below the $7.900 mark again.

Posted on 20 May 2019 | 12:14 pm

Data Shows Bitcoin Has Radically Changed - Forbes

Data Shows Bitcoin Has Radically Changed  Forbes

Bitcoin, which has exploded back into the public consciousness over the last few months due to its surging price and a raft of positive cryptocurrency ...

Posted on 20 May 2019 | 7:58 am

Crypto Market Wrap: Bitcoin Steady Before ETF Ruling, What’s Expected? - newsBTC

Crypto Market Wrap: Bitcoin Steady Before ETF Ruling, What’s Expected?  newsBTC

Crypto markets holding onto gains; Bitcoin back at $8000 prior to anticipated bitcoin ETF ruling, BCH and XRP gaining slowly, Dash pumping. Market Wrap ...

Posted on 20 May 2019 | 7:05 am

Winklevoss Twins Double Down On “Bitcoin Is Gold 2.0” Narrative - newsBTC

Winklevoss Twins Double Down On “Bitcoin Is Gold 2.0” Narrative  newsBTC

Although the crypto industry has changed dramatically in its decade-long lifespan, the narrative surrounding Bitcoin (BTC), along with its cardinal value.

Posted on 20 May 2019 | 12:00 am

Bitcoin's wild ride - 60 Minutes - CBS News

Bitcoin's wild ride - 60 Minutes  CBS News

Anderson Cooper reports on how bitcoin was started, where it may go and some of the people who have ridden the cryptocurrency roller coaster over the last 10 ...

Posted on 19 May 2019 | 11:05 pm

Just 732,000 Bitcoin Addresses Own At Least 1 BTC - Bitcoinist

Just 732,000 Bitcoin Addresses Own At Least 1 BTC  Bitcoinist

Bitcoin is piling in more than 732,000 addresses owning at least 1 BTC. Meanwhile, the top-100 BTC addresses are seeing more inflows that outflows of BTC.

Posted on 19 May 2019 | 7:12 pm

Bitcoin Approaches $8,000 Again as Top Cryptos See Strong Gains - Cointelegraph

Bitcoin Approaches $8,000 Again as Top Cryptos See Strong Gains  Cointelegraph

Most of the top 20 cryptocurrencies are reporting moderate to notable gains on the day as bitcoin approaches $8000 again.

Posted on 19 May 2019 | 3:24 pm

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Bitcoin Price Retests $8,000 Following 21.37% Drop – Is $11,000 Next? - newsBTC

Bitcoin Price Retests $8,000 Following 21.37% Drop – Is $11,000 Next?  newsBTC

Bitcoin has made a come back following three days of depressive price movements that led to a 21.37 percent drop. The world's leading cryptocurrency.

Posted on 19 May 2019 | 11:05 am

Bitcoin and Blockchain: The Tangled History of Two Tech Buzzwords - CoinDesk

Bitcoin and Blockchain: The Tangled History of Two Tech Buzzwords  CoinDesk

“I'm interested in blockchain, not bitcoin.” Admit it, you've heard this hundreds, if not thousands, of times. (You might have even said it yourself.) And sure, people ...

Posted on 19 May 2019 | 9:15 am

Bitcoin Payments Are Being Bulldozed for Political Reasons - Bitcoin News

Bitcoin Payments Are Being Bulldozed for Political Reasons  Bitcoin News

Bitcoin Core wants to distance itself politically from the former project leader Gavin Andresen, the payment protocol BIP070 he was involved with, and Bitcoin ...

Posted on 18 May 2019 | 11:09 pm

About That Orange B... The History of Bitcoin's Logos - CoinDesk

About That Orange B... The History of Bitcoin's Logos  CoinDesk

Can a logo symbolize the ethos of a project? An industry? An entire movement? This is perhaps too much meaning to attribute to any one design, but if any logo ...

Posted on 18 May 2019 | 10:20 am

Bitcoin Is Swinging Wildly--Here's Why - Forbes

Bitcoin Is Swinging Wildly--Here's Why  Forbes

Bitcoin, which has exploded back into the media limelight and public consciousness over the last few weeks, has taken a turn for the worse, plunging by over ...

Posted on 17 May 2019 | 9:53 am

Bitcoin price tanks less than a day after trading above $8,000 level - CNBC

Bitcoin price tanks less than a day after trading above $8,000 level  CNBC

Bitcoin prices plummeted just hours after the world's largest cryptocurrency traded at levels above $8000.

Posted on 17 May 2019 | 5:22 am

Report: Coinbase Negotiates Acquisition of Xapo’s Bitcoin Custody Business - Cointelegraph

Report: Coinbase Negotiates Acquisition of Xapo’s Bitcoin Custody Business  Cointelegraph

Coinbase is reportedly negotiating the acquisition of the bitcoin custody business of cryptocurrency wallet provider Xapo for $50 million in cash.

Posted on 16 May 2019 | 8:12 pm

Bitcoin Sees Discrete Losses as Most Top Cryptos See Gains - Cointelegraph

Bitcoin Sees Discrete Losses as Most Top Cryptos See Gains  Cointelegraph

Most of the top 20 cryptocurrencies are reporting moderate gains on the day, as bitcoin has fallen below the $7900 mark again.

Posted on 16 May 2019 | 11:45 am

Bitcoin Faces Price Correction Toward $7.6K, Technical Charts Suggest - CoinDesk

Bitcoin Faces Price Correction Toward $7.6K, Technical Charts Suggest  CoinDesk

Bitcoin printed a 10-month high of $8,390 earlier today only to fall back quickly below $8,000, strengthening the bearish divergence of the 4-hour chart relative ...

Posted on 16 May 2019 | 10:45 am

A Legendary Investment Guru Just Flipped On Bitcoin - Forbes

A Legendary Investment Guru Just Flipped On Bitcoin  Forbes

Bitcoin, which has been rapidly climbing in price over the last couple of months, has reignited the public debate surrounding the future of cryptocurrencies, their ...

Posted on 16 May 2019 | 10:01 am

Bitcoin Cash Upgrade and 30K Stores Accepting BCH in the Weekly Update From Bitcoin.com - Bitcoin News

Bitcoin Cash Upgrade and 30K Stores Accepting BCH in the Weekly Update From Bitcoin.com  Bitcoin News

Bitcoin Cash network successfully undergoes an upgrade and more than 30000 new stores now accept BCH payments. Watch these and other developments.

Posted on 16 May 2019 | 9:30 am

Can Bitcoin Win the Digital Payments 'Gauge War'? - CoinDesk

Can Bitcoin Win the Digital Payments 'Gauge War'?  CoinDesk

Simon Johnson is a Ronald A. Kurtz Professor of Entrepreneurship, MIT Sloan School of Management. The following article originally appeared in Consensus ...

Posted on 16 May 2019 | 8:00 am

Currency Fears Drive Chinese Into Bitcoin - Forbes

Currency Fears Drive Chinese Into Bitcoin  Forbes

As Trump and Xi play a dangerous game of chicken, bitcoin surges.

Posted on 15 May 2019 | 9:51 pm

Bitcoin Threatens To 'Take Power' From The U.S. Federal Reserve - Forbes

Bitcoin Threatens To 'Take Power' From The U.S. Federal Reserve  Forbes

Bitcoin, which has roared back over the last few weeks after what many feared was a terminal decline since its peak in late 2017, has long been called a threat to ...

Posted on 15 May 2019 | 8:36 am

Bitcoin Touches $8,200, Gold Hits Its Highest Point Since April - Cointelegraph

Bitcoin Touches $8,200, Gold Hits Its Highest Point Since April  Cointelegraph

Wednesday, May 15 — All of the top 20 coins are in the green after seeing some losses over the past day, with some reporting double-digit gains, according to ...

Posted on 15 May 2019 | 7:00 am

Bitcoin passes $8,000 as value more than doubles in 2019 - CNBC

Bitcoin passes $8,000 as value more than doubles in 2019  CNBC

After crashing in value a *fresh* wave of buying appears to be hitting the market.

Posted on 14 May 2019 | 7:00 am

Microsoft Wants to Protect Your Identity With Bitcoin - WIRED

Microsoft Wants to Protect Your Identity With Bitcoin  WIRED

Microsoft announced plans to use the bitcoin blockchain to create a "digital identity" that could be used to access sites and apps across the internet.

Posted on 14 May 2019 | 7:00 am

Customers Can Spend Bitcoin At Starbucks, Nordstrom And Whole Foods, Whether They Like It Or Not - Forbes

Customers Can Spend Bitcoin At Starbucks, Nordstrom And Whole Foods, Whether They Like It Or Not  Forbes

It is a freakishly hot May afternoon when Cameron Winklevoss decides to quench his thirst with a tall cold-brewed coffee from Starbucks, and “just a little bit of ...

Posted on 13 May 2019 | 7:00 am

Binance hack: If bitcoin is so safe, why is it a target for thieves? - Vox.com

Binance hack: If bitcoin is so safe, why is it a target for thieves?  Vox.com

Hackers have stolen millions of dollars in bitcoin from exchanges. Here's why it keeps happening.

Posted on 9 May 2019 | 7:00 am

Bitcoin has soared 60% this year. Meet the new buy-and-hold investment - CNN

Bitcoin has soared 60% this year. Meet the new buy-and-hold investment  CNN

Bitcoin prices have surged nearly 60% to about $6000 after plunging almost 75% in 2018.

Posted on 8 May 2019 | 7:00 am

Bitcoin tops $10,000 milestone

Posted on 29 November 2017 | 9:30 am

Bitcoin price climbs over $4,000

Posted on 14 August 2017 | 7:16 am

Bitcoin reaches new all-time high: $3,000

Posted on 12 June 2017 | 7:06 am

CRYENGINE now accepts Bitcoin

Posted on 29 March 2017 | 7:24 am

Consulting firm EY Switzerland accepts Bitcoin

Posted on 26 November 2016 | 7:47 am

Bitcoin Trading Bots

There have been a wide variety of situations in which algorithmic trading programs have proven to be beneficial for investors. However, investors who only trade a cryptocurrency can also take advantage of bitcoin trading bots. Through bitcoin bot trading, traders can become more flexible and prompt, minimize errors and process information more rapidly. At this… Read More »

Posted on 9 November 2016 | 1:20 am

Steam accepts Bitcoin

Posted on 29 April 2016 | 7:09 am

Microsoft accepts Bitcoin

Posted on 11 December 2014 | 12:06 pm

Mozilla accepting Bitcoin

Posted on 20 November 2014 | 8:55 pm

PayPal and Virtual Currency

Posted on 24 September 2014 | 3:52 am

Wikimedia Foundation Now Accepts Bitcoin

Posted on 30 July 2014 | 9:14 pm

German Newspaper "taz" accepts Bitcoin

Posted on 22 July 2014 | 7:32 pm

May 23, 2019 -
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