Published on 30 January, 2015 by World Crypto Network

‘Lower Bitcoin Prices are More in Favor for Bad Actors and Ponzi Schemes’

30 January 2015 | Allen Scott|

Genesis Mining has grown quickly amidst a rapidly-expanding cloudmining market and is now the SHA and Scrypt mining industry leader. The German-directed, Bermuda-registered corporation offers not only Bitcoin mining contracts but also diversifies its hashing power to “the most promising altcoins” such as Dogecoin and Litecoin.

In a follow up to our previous interview back in July of 2014 with the company, we decided to check up on Genesis Mining to see how the suppressed bitcoin price has impacted their operations, the current state of the cloudmining industry, and what is in store for the company in 2015. We caught up with founder Marco Streng to get the inside scoop.


Investors robbed of $11 mn Bitcoins in four years: Study

31 January 2015 | IANS|

New York: Frauds such as online ponzi schemes have skimmed at least $11 million in Bitcoin deposits from unsuspecting cyber customers over the past four years, a study says.

Bitcoin is the digital world`s most popular virtual currency, with millions in circulation.

“Our calculation of $11 million is almost certainly at the low-end,” said lead researcher Marie Vasek from Southern Methodist University in the US.

“The amount of Bitcoin that depositors have lost to these scams is probably many millions more,” Vasek added.

The researchers identified 41 scams occurring between 2011 and 2014, in which fraudulent sites stole Bitcoin from at least 13,000 victims.


Bitcoin: Perhaps the Most Promising Investment Opportunity of Our Age

30 January 2015 | Tuur Demeester|

A technology is called “disruptive” if it creates a new market that first disturbs and then displaces an earlier technology. Bitcoin is potentially such a technology and much more. The fact that it can disrupt the largest and most interconnected marketplace in the world—money, banking, and finance—makes it perhaps the most promising investment opportunity of our age.

Unlike our current increasingly unstable and unpredictable financial system, Bitcoin has 21st century technologies at its very core. The digital currency and clearing network is open source, mobile, peer-to-peer, cryptographically protected, privacy oriented and native to the Internet. The fusion of these technologies allows for a level of security and efficiency unprecedented in the world of finance. These are some of the areas in which Bitcoin-oriented technology can directly compete:


Reddit Lets Go Cryptocurrency Engineer Ryan X Charles

30 January 2015 | Yessi Bello Perez|

Ryan X Charles has been let go from his post as cryptocurrency engineer on social platform Reddit.

The developer, who only this week demonstrated his proof of concept for peer-to-peer bitcoin payments on the site, announced the news in a Reddit post, saying:

“I have complete confidence in the new leadership, but cryptocurrency is no longer in their plans. “

He added that he was “fairly confident cryptocurrency will return to Reddit in the coming years”, but that it would “have to wait a while for things to calm down” – a reference to the company’s current situation after the sudden departure of CEO Yishan Wong.


Bitcoin Remains Beleaguered As Investment, Has Fans

30 January 2015 | Tim Lloyd|

Bitcoin, which online news site Quartz called the worst investment of 2014, continues on a turbulent path, hurt by security fears and other issues but retaining some notable investors as advocates.

The digital currency plunged 22% the week of Jan. 11 alone, according to, a bitcoin-focused news site.

That drop stemmed from a Jan. 4 cyberattack on Bitstamp, the world’s second-largest dollar-bitcoin exchange. Hackers looted 18,000 bitcoins, or $5 million in client funds, from the Slovenia-based Bitstamp exchange, according to Pantera Capital, the only outside investor in Bitstamp.


Princeton Announces Bitcoin Course!

30 January 2015 | Samuel Rae |

Early last year NYU became the first major institution to invite its students to take part in a bitcoin related course. Now it looks as though other major institutions are ready to follow suit – the latest being the world renowned Princeton University.

Starting in April 2015, Princeton will commence teaching of a course called “TC-Tech: Bitcoin andCryptocurrency Technologies.” Strangely, the course is listed as not being an official Princeton course  on the University’s website – but from what we can tell this is due to the fact that the course will be taught online (via webinars), and is purely an exercise in semantics.

From the University’s official website, the course will focus on the following questions:


DigitalBTC Dissolves Bitcoin Mining Agreement with CloudHashing

30 January 2015 | Nermin Hajdarbegovic |

Australian bitcoin company digitalBTC has dissolved a supply agreement with cloud mining service CloudHashing.

Under the agreement, which was finalised in March, CloudHashing was to run digitalBTC hardware in data centres in Iceland and Texas to mine bitcoins.

Today, however, digitalBTC announced that it was pulling out of the deal, filing an announcement with the Australian Securities Exchange (ASX) that stated the companies had agreed to dissolve the supply deal.

Under the settlement, CloudHashing’s shares in digitalBTC are to be cancelled.


Bank Suspends Polish Bitcoin Exchange’s Accounts

30 January 2015 | Nermin Hajdarbegovic |

Polish bitcoin exchange has had its bank accounts suspended by Bank BPH.

BPH initially said the suspension was the result of a technical glitch, but later claimed it was due to outstanding debt and lack of credentials, according to The exchange said it discovered its BPH accounts were suspended on 26th January. founder Michal Pleban told CoinDesk that the real reason for the bank’s decision was prompted by a query filed by the local district attorney’s office. The filing revolved around one particular transaction on the exchange, which was allegedly performed with stolen funds.

“For that reason, the bank decided to close all our accounts and refuse our business,” he said.

The exchange never received a notification from the bank or the authorities, according to Pleban. He said he was unable to see the query that eventually prompted the bank to freeze the accounts.


Bitcoins Are Easier To Track Than You Think

30 January 2015 | Sam Frizell |

The Silk Road trial shows how they can be tracked

Bitcoin is sometimes thought of as the prime anonymous cash of the Internet, believed to be as untraceable as an under-the-table payment to a babysitter or a drug dealer.But the dramatic trial of Ross Ulbricht, a 30-year-old man accused of running the contraband Silk Road marketplace, is finally putting those misconceptions to rest.

Federal agents said they were able to trace 3,760 bitcoin transactions over the course of a year to servers seized in the Silk Road investigation, Wiredreports. A former FBI agent named Ilhwan Yum testified in court that he followed more than 700,000 bitcoins from the Silk Road marketplace to Ulbricht’s personal wallets.


The Bootstrapper’s Guide To Bitcoin Remittances

30 January 2015 | Luis Buenaventura |

Editor’s note: Luis Buenaventura is a co-founder and head of product at, a bitcoinremittance startup wholly owned and operated by Satoshi Citadel Industries in the Philippines.

There’s a lot of rhetoric about bitcoin and its impact on the $430 billion international remittance industry. One of the cryptocurrency’s most obvious uses is, after all, sending money across the planet with roughly the same effort as sending an email.

The potential effect on emerging markets — savings in aggregate that are larger than most countries’ education budgets — cannot be overstated. But beyond all the pontificating there is still the practical implementation that has yet to be sorted out.


30 January 2015 | Venzen Khaosan |

Bitcoin Price is in search of a value floor as it gears up for the descent to $200. The chart technicals are clear about the drop but leave us wondering if it will be the final low for this market cycle.

This analysis is provided by with a 3 hour delay. Read the full analysis here.

Bitcoin Value and Price Analysis

Time of analysis: 12h30 UTC

Bitfinex 1-Hour Chart



CoinDesk’s Regulation Sentiment Survey

29 January 2015 | CoinDesk |

Are you for it, or against it?

It’s no secret that the bitcoin community can be divided when it comes to the topic of regulation – some believe it’s necessary to bring bitcoin to the mainstream and others believe that bitcoin was built specifically to circumvent regulation.

To get a better idea of where the industry stands as a whole, CoinDesk wants to hear directly from our readers about how they view bitcoin regulation around the world.

Please take a minute or so to fill out CoinDesk’s regulation sentiment survey below:


Coinbase Community Opens to Coinbase’s 2 Million Wallet Customers

30 January 2015 | Caleb Chen |

In a recent blog post, Coinbase introduced their new Coinbase Community, a discussion platform for their many users. Coinbase has also recently launched a new BitcoinAn exchange is exactly how it sounds, somewhere where account holders can exchange on digital currency for another or a Fiat currency for a digital currency.”>exchange called Lunar which is only available in roughly half of America currently. The Bitcoin company has also recently celebrated its 2 millionth bitcoin and other digital currency users use wallets to hold the private keys associated with that particular and public bitcoin addresses. The lowest in the country contain any bitcoins – a common misconception – just the private keys.”>wallet signup, an impressive feat.

A New/Old Community

The Coinbase Community site is designed to be used:

For Consumers: What features would you like to see in your bitcoin bitcoin and other digital currency users use wallets to hold the private keys associated with that particular and public bitcoin addresses. The lowest in the country contain any bitcoins – a common misconception – just the private keys.”>wallet? What bug has been annoying you for months? We would love to hear from you how we can be serving you better.

For Merchants: How are you thinking about accept bitcoin payments? How have you integrated it into your business? Let us know what is working well and what isn’t.

For Developers: Are you trying to integrate bitcoin into a product or service? Get your API questions answered by other developers, and discuss strategies for launching your app on the largest bitcoin API platform.

The Coinbase Community uses’s forum software and offers popular features such as nested conversations, mobile support, and up-voting. Of course, Coinbase has integrated its almost ubiquitous tip button into the platform as well so community members can tip each other for good advice. Everyone that has a Coinbase account is automatically signed up for a Coinbase Community account, so if you have any questions about Coinbase, or bitcoin in general, it seems that there is a new water cooler in town for discussion.

Images from Coinbase.


UK Exchange Launches with Backing From Regulated E-Money Firm

30 January 2015 | Joon Ian Wong |

The team behind a regulated e-money issuer has launched a bitcoin exchange called Digital Securities Exchange (DSX).

The issuer, ePayments Systems Ltd, has been an authorised electronic money institution with the UK regulator, the Financial Conduct Authority, since last July. ePayments Systems has in turn made DSX its agent.

The move is meant to position DSX to capture the market for sterling-bitcoin trading, said Mike Rymanov, who founded and leads both ventures.


29 January 2015 | Christian de Looper |

The cork was barely out of the champagne bottle when the celebration about bitcoin’s first U.S. exchange came to a grinding halt this week due to a license snafu. While it will likely be cleared up quickly, the delay adds another question mark on whether the beleaguered cryptocurrency will finally start taking root on Wall Street and with consumers.

On Jan. 26, bitcoin announced a new exchange, Coinbase, the first regulated U.S. exchange. It was big news that gave bitcoin supporters and fans something to finally cheer about.


Published on 30 January, 2015 by MadBitcoins

Published on 28 January, 2015 by MadBitcoins

Cloud Mining Will Profit From Bitcoin Price Rise, Says Genesis Ceo

30 January 2015 | Dean Walsh |

Marco Streng, the CEO of cloud mining operator Genesis Mining, has reaffirmed his company’s long-term commitment to the industry in an interview with CryptoCoinsNews.

Striking a positive note on the future of an industry which has been in turmoil over recent months, Streng claims that his company is currently in a “favourable position”. They could keep operating even if the price of btc were to fall as low as $100 USD. Even with a price lower than that, there would still be a demand for hashpower, as Streng notes:

“Bitcoin is not the only cryptocurrency and our proprietary system and technology gives our users the unique opportunity to also diversify the hashpower over other altcoins.”

There is no doubting that the Bitcoin mining industry has seen its fair share of troubles recently. Miners already operating in a competitive industry have struggled to cope with the declining value of the coins they mine against fiat currencies like the U.S. dollar. By investing many thousands of dollars in hardware, miners are effectively betting that the price of bitcoin in the future will be high enough to justify their investment. So when the price drops as dramatically as it did throughout most of 2014 and even into early 2015, miners are hit hard. Combine this with competition from hobbyists who do it for the fun and therefore don’t need to come out in profit, and you come up with a recipe for disaster.


ISIS fundraising in US via bitcoin – report

30 January 2015 |

An Israeli cyber intelligence analyst claims that ISIS is using the dark web and bitcoin for recruitment and fundraising. Unregulated system “gaps” could indeed be exploited by terrorists seeking refuge in the anonymous network, experts say.

Haaretz newspaper quoted an Israeli analyst who said he traced an ISIS funding website and “has uncovered concrete evidence that a terror cell, purporting to be related to the Islamic State – is soliciting for bitcoins as part of its fundraising efforts.”

The fundraiser reportedly called for the support of a “new Islamic front – both in the United States, and around the world.” It allegedly called for donations to be made through various means, all of which – “besides economic support through bitcoin” – should have been done with much caution “due to the security apparatus’ recent crackdown on any and all Islamic change fronts here in the United States.”


Bitcoin is saved from irrelevance by good old-fashioned regulation

30 January 2015 | Shelly Banjo |

Bitcoin’s ideological foe is becoming its saving grace.

To many Bitcoin enthusiasts, the decentralized currency’s allure was that it was designed to exist beyond the reach of government regulation. Free from central banks, its value wasn’t tied to government policies or geopolitical factors.

But now it seems the very regulation its creator or creators (since we don’t actually know who first minted Bitcoin) guarded against is what’s now buoying the cryptocurrency’s price.


Bitcoin Trading Retesting The Lows Near $200

29 January 2015 | Venzen Khaosan |

Bitcoin Price dropped over the edge during yesterday’s session, and the slide continued for most of today. Price made the usual stops along the way: 38%, then 50% and then made its way to 62% where the bulls are attempting to stage a comeback.

This analysis is provided by with a 3 hour delay. Read the full analysis here.

Bitcoin Trading and Price Analysis

Time of analysis: 15h00 UTC

Bitfinex 15-Minute Chart


Analysis quoted from

The full candle history has been restored at the 15-minute timeframe in Tradingview’s chart. Here we can see, for the first time today, the exact wave structure of yesterday’s decline. The B wave is the horizontal structure around 38% retracement, and this last wave down is wave C (or part of it). Structurally, the two declining waves (A and C) are very similar, and it appears that at least another wave of decline is due. Price hit the 62% retracement level near its confluence with the descending Fib line from November’s high.


New Exchange Protects User Funds with Segregated Bank Accounts

30 January 2015 | Jon Southurst |

Hong Kong-based exchange Gatecoin has launched after a lengthy setup process, promising segregated bank accounts for customers in 40 countries across five continents.

The company says it is the first to offer this kind of security, which is common in the non-crypto forex exchange world. This means customer funds are kept in separate bank accounts to the company’s own funds, and thus can have funds returned in the case of a force majeure financial event that depletes company reserves.

Gatecoin is a licensed Money Services Operator in Hong Kong. It offers bitcoin trading in USD, EUR and HKD through its low-latency matching engine, and plans to implement Ripple in the next few weeks.


Bitcoin Tracker | Week 59

30 January 2015 | PYMNTS |

Circle is a consumer financial services company founded by internet pioneer Jeremy Allaire to “transform the world economy with secure, simple, and less costly technology for storing and using money.”

Allaire’s and Circle’s vision harkens back to the 1990’s when the Internet was a brand new idea, ready to transform and be transformed. Today the internet is the central to how people and businesses communicate. Allaire sees bitcoin and its open standards and protocols as that future for the way in which money is sent between people and businesses worldwide. Circle is building the products that will help people take advantage of that opportunity and over time, advance the vision of “the internet of money.”


Why Apple Pay And Dollars Are Killing Bitcoin

29 January 2015 | Ross Gerber |

The recent drop in energy prices has dominated financial headlines in recent months, with the fallout having been wide ranging and somewhat conflicting. Consumers have received what amounts to a tax cut, and with more money to spend that’s good news for retailers. At the same time, stocks are experiencing a decent level of volatility, plagued by many of the same factors that are causing oil to plummet, including soft demand, a strong dollar and continued economic weakness across Europe, Japan and even China.

Receiving far less press attention is the ongoing collapse of Bitcoin prices. While this is not unexpected given the house of cards Bitcoin was built on, no one should forget that only a short time ago Bitcoin had reached manic levels. Investors worldwide – including high-powered venture capital firms and well-respected tech entrepreneurs – sang its praises, pouring millions into the virtual currency and confidently declaring that it was the next big thing.


USAA: Our Members Are ‘Actively Engaged’ in Bitcoin

29 January 2015 | Stan Higgins |

USAA’s recent entrance into the bitcoin space may have been driven, in part, by interest in the technology among its own membership.

The Fortune 500 financial services company, based in Texas, was among a diverse group of investors that took part in Coinbase’s $75 million Series C funding round, which was announced earlier this month. USAA, founded in 1922, focuses primarily on the US military and veteran market.

The financial group’s head of corporate development, Vic Pascucci, said that USAA envisions digital currencies playing a possible role in future services, and cited internal data that points to interest in bitcoin among its customers.


Prosecutors Trace $13.4M in Bitcoins From the Silk Road to Ulbricht’s Laptop

29 January 2015 | Andy Greenberg |

If anyone still believes that bitcoin is magically anonymous internet money, the US government just offered what may be the clearest demonstration yet that it’s not. A former federal agent has shown in a courtroom that he traced hundreds of thousands of bitcoins from the Silk Road anonymous marketplace for drugs directly to the personal computer of Ross Ulbricht, the 30-year-old accused of running that contraband bazaar.

In Ulbricht’s trial Thursday, former FBI special agent Ilhwan Yum described how he traced 3,760 bitcoin transactions over 12 months ending in late August 2013 from servers seized in the Silk Road investigation to Ross Ulbricht’s Samsung 700z laptop, which the FBI seized at the time of his arrest in October of that year. In all, he followed more than 700,000 bitcoins along the public ledger of bitcoin transactions, known as the blockchain, from the marketplace to what seemed to be Ulbricht’s personal wallets. Based on exchange rates at the time of each transaction, Yum calculated that the transferred coins were worth a total of $13.4 million.


Synero, Bringing Crypto And Social Media On A Revolutionary Platform

29 January 2015 | Aleppo Allesadero |

Synero the next gen social network has just launched its Amp Coin recently which is set to revolutionize your world. Social networking and Cryptocoins have been moving closer with recent technological developments but Synero comes as the biggest integrator of both Cryptocoins and Social networking so far.

Synereo is a next-gen social network that puts security, identity, and community management directly under the purview of you – the user, respecting your attention and rewarding you for your activities on the social network.

As seen above the Synero network prides itself in being a simple, functional and community based project allowing the users to change the course of development and influence future decisions. The token attached to the service has also allowed the company and platform to give a unique feature to consumers who may already be attached to a whole host of other social networking sites.


29 January 2015 | Pete Rizzo |

GoCoin has added three new fiat currencies as payout options for merchants – euros, pound sterling and Singapore dollars.

The announcements come amid a string of new details about the company’s business progress. Since raising $550,000 in November 2013, GoCoin has arguably become a big-three payment processor alongside BitPay and Coinbase due to its agnostic approach to digital currencies, accepting litecoin and dogecoin alongside bitcoin.

In statements, CEO Steve Beauregard asserted that the company has “greatly exceeded its growth projections in 2014″, and is well-positioned for success this year.


Bitcoin clouded by shaky outlook

29 January 2015 | Staff Reporter |

Bitcoin, the major virtual currency, suffered a bumpy start in 2015, plunging near 13% in value in the first two weeks of the year to 1,100 yuan (US$176), less than half of its worth at 2,500 yuan (US$400) in November last year.

Another recent setback for the Bitcoin market is theft of 19,000 Bitcoins at Bistamp, a leading Bitcoin exchange in Europe, inflicting US$5 million in losses for the latter.

The loss has aggravated the plight of the global Bitcoin market, triggering a selloff which has driven down the global price of the virtual currency to under the US$200 mark, representing a 20% decline in recent months, a scale even steeper than the drop in oil prices and the depreciation of the ruble. The plunge has triggered a stampede, as individual investors rush to quit the market, following in the steps of major speculators.


29 January 2015 | Joel Dalais |

The Bitcoin Foundation Elections Committee has released a unique new project that has been in the works for the last year.

“a new official Distributed Opinion System for the Board Elections” ~ Michael Toomim.

With a newly created website dedicated to this system, The Distributed Opinion can be found here, Foundation members and non-members can view the candidates and their current standings with regards to the opinions of the Foundation members.

Bitcoin Foundation members can change their opinions at any time after giving their initial thoughts on a candidate and placing their initial sliding perception. From a negative to positive, or anywhere in between, members can leave their rating on one or multiple candidates.


This is How You Buy And Spend Bitcoin

29 January 2015 | Michael Grothaus |

Bitcoins have been all the rage for the last few years. It’s made some people millionaires overnight and, with the security breach at Mt. Gox, made others very leery of the digital currency. Countries like China want to regulate the currency, while other countries say they’ll never recognize it as legitimate.

Don’t know what Bitcoin is? Here’s a primer from the company behind it: “Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.”


LocalBitcoins User Funds Stolen After Chat Client Hack

29 January 2015 | Stan Higgins |

Peer-to-peer bitcoin marketplace LocalBitcoins suffered a hack this week that resulted in the distribution of malware and a loss of customer funds.

Affected users will be granted refunds after taking steps to address security vulnerabilities, according to the company.

LocalBitcoins vice president Nikolaus Kangas acknowledged the hack on 27th January in a forum post, outlining how the intrusion took place through its LiveChat account, with an estimated 17 BTC lost from customer wallets.


29 January 2015 | Diana Ngo |

Alleged theft attempt, BTC giveaway, Amsterdam hackathon, upcoming Bitcoin Fun Fair, and other events in CoinTelegraph’s news roundup for Wednesday, January 28

‘Goxed’ in China

Chinese Bitcoin exchange 796 mistakenly lost 1000 BTC in a mishandled customer service request. Nelson Yu, President of Americas Division at 796, told CoinTelegraph:

“In the last 24 hours, our security team worked around the clock to trace back the codes and processes. At this moment, we have a pretty good idea of exactly how they did it. This was not a generalized attack. The hacker’s strategy was precisely calculated and well targeted to compromise a certain weakness on our server.

Precisely speaking, the wallet system is not affected at all in this event. The theft happened during the transaction of the fund. That’s where the hacker attacked.

Due to this nature, major shareholders have carried out their obligation to our customers in covering this loss of fund. The remedy came from the major shareholders’ unpaid dividend.”


29 January 2015 | William Suberg |

Israeli web analyst claims that Islamic State is continuing to use Bitcoin as a means of funding. But the evidence he quotes is not enough to point at a trend as the amount mentioned was only 5 BTC. Taking into account the spread of cryptocurrencies in Israel itself, the statement appears to be just an example of Bitcoin-related media hype.

report by the Israeli news source Haaretz cites a senior web analyst who told the publication that “There was smoke, and now we have found the fire,” following discovery of messages purported to be from IS members posted on forums hidden on the Dark Web.


Research: Over $11 Million Lost in Bitcoin Scams Since 2011

29 January 2015 | Joon Ian wong |

Scams promising bitcoin riches have netted swindlers at least $11m in the last four years, researchers have found.

Some 13,000 victims handed over their money unwittingly in 42 different scams over that time period, their data suggests.

However, the total amount of funds cheated from victims over this period is almost certainly higher than the estimated $11m the research identified.


Cryptocurrency round-up: Bill Gates hesitant to use bitcoin and Isis on the dark web

29 January 2015 | Anthony Cuthbertson |

Bitcoin has suffered another significant price fall over the last 24 hours, losing 10% of its value to take its market cap down to just over $3 billion.

The drop has taken it back down to the same level it was at last week, before a price spike brought on by the opening of a new US-based exchange briefly took it above $4 billion on Monday.

Litecoin, dogecoin, darkcoin and peercoin have followed bitcoin’s downward trajectory, falling by between 8% and 11% since yesterday.


Researcher Suggests ISIS is Fundraising with Bitcoin

29 January 2015 | Nermin Hajdarbegovic |

New research from Singapore-based web intelligence firm S2T suggests Islamic State (ISIS) could be using bitcoin for fundraising.

Israeli daily newspaper Haaretz has reported that S2T analyst Ido Wulkan managed to find concrete evidence linking an ISIS cell based in the US to fundraising activities. The cell apparently used the dark web and bitcoin to cover its tracks.

Wulkan found a dark web site that urged supporters to donate bitcoin to the cause. The message, posted by a user named Abu Mustafa, stated that bitcoin donations are accepted by the cell.


Bitcoin Regulation: Who’s Being Naive?

29 January 2015 | Kyle Torpey |

NEW YORK (InsideBitcoin) — With the recent news of the “regulated” Coinbase exchange, as well as the upcoming Gemini bitcoin exchange from the Winklevoss Twins, it makes sense to take another look at the relationship between regulators and bitcoin companies. There is still a clear divide between those who believe regulators should be ignored and those who want to work with government officials in order to create a clear regulatory environment. Although working closely with regulators has worked well for certain bitcoin-related businesses, such as Circle and Coinbase, attempting to do the right thing has not worked well for other actors in the space.


Bill Gates: Why the Gates Foundation Doesn’t Use Bitcoin

29 January 2015 | Nermin Hajdarbegovic |

Software magnate Bill Gates has again spoken out on bitcoin in his third ‘Ask Me Anything’ (AMA) session on social sharing platform Reddit.

The focus of the AMA was philanthropy and the work of the Bill & Melinda Gates Foundation. As a result, Gates’ answer revolved around potential bitcoin applications in charity.

In response to the question “What is your opinion on bitcoins or cryptocurrency as a whole? Also do you own any yourself?”, Gates wrote:


Ex-Goldman Sachs Trader Plans to Open New Bitcoin Derivatives Exchange LedgerX

29 January 2015 | George Krash |

Federally regulated bitcoin exchanges seem to be becoming a trend. Paul Chou, a consultant and former Goldman Sachs trader is readying LedgerX Bitcoin derivatives exchange and clearing house.

LedgerX seems like a service that could help Bitcoin derivatives come a step closer to additional legitimacy by being fully regulated. While working for Goldman Sachs, Chou was responsible for the development of algorithmic strategies for equity trading for U.S. and Japanese markets. He also developed a set of cross-asset strategies and devised a method to unify and optimize the trade flow across hundreds of trading algorithms.


29 January 2015 | Evander Smart |

As we’ve been following for you here at CCN, plenty of people are curious to learn more about Bitcoin. It was the fourth-largest “What is” search on Google last year, and this means the interest in Bitcoin is definitely not defined by its US Dollar price. Education is the biggest obstacle Bitcoin faces, both now, and in the future. With that in mind, some of the most prestigious schools in the United States are beginning to teach our brightest minds more about “The Future of Money”.

Princeton Follows NYU’s Bitcoin lead, Unofficially

NYU was the pioneer of this movement to teach the students more about Bitcoin in the Fall 2014 semester. Princeton University has now joined the ranks of the learned for Spring 2015. In response, almost 400 students have already signed up for the course, again, highlighting heightened demand, especially amongst the savvy American youth.


The Real Reason VCs Should be Investing in Bitcoin

29 January 2015 | Ram |

Are you an investor who has come to this page while doing the due diligence for investing in Bitcoin? You have come this far I suggest that you read till the end. 

Even if you are not a VC or angel you are still in the right place on the Internet. For I am about to add some perspectives that can help you make informed decisions towards investing in Bitcoin. More specifically — investing in Bitcoin Tech. Please note that Venture capital funding for Bitcoin based startups tripled in 2014.

There are Venture Capitalists who invest in technology, logistics, finance, food, transportation and even in adult toy business (just kidding – thats extremely hard). Then there are early adopters among the VCs who are investing Bitcoin tech. After all VCs are people too, right? So it only makes sense to extrapolate the innovation diffusion curve to Venture Capitalists, just the way we apply the curve to the general population.


28 January 2015 | Tanaya Macheel |

Bitcoin mining company BitFury is looking to enter the cloud mining market.

BitFury has given no indication as to when its proposed cloud mining offering would launch. However, it outlined how it would provide hardware to partners, only adding supply based on demand, rather than selling hashing power without limit.

CEO Valery Vavilov told CoinDesk:


Bill Gates Responds on Bitcoin: We Do Not Use Bitcoin And Here’s Why

28 January 2015 | David Parker |

Bill Gates got an AMA (Ask Me Anything) on Reddit now and was questioned by dirtbikerr450 on Bitcoin for 3 hours ago. He has recently said that Bitcoin isn’t good enough alone. The Reddit user asked:

What is your opinion on bitcoins or cyptocurency as a whole? Also do you own any yourself?

Bill Gates responds and gives us a more detailed answer:

Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don’t use bitcoin specifically for two reasons. One is that the poor shouldn’t have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn’t work.

Overall financial transactions will get cheaper using the work we do and Bitcoin related approaches.

Making sure that it doesn’t help terrorists is a challenge for all new technology.



BitGold Backed By Sprott in Public Stock Market Deal

28 January 2015 | Pete Rizzo |

Toronto-based gold and bitcoin startup BitGold has gone public following a reverse merger with mineral exploration company Loma Vista Capital.

BitGold will retain its name, but halt trading on the Canadian National Stock Exchange as it migrates to the Toronto Stock Exchange. As part of the deal, the company said it will raise C$6m in subscription receipt private placement, with an additional C$5m worth of warrants to be exercised later.

The pending C$6m subscription receipt sale includes commitments from Canaccord Genuity CorpClarus Securities, Dundee Securities and GMP Securities. However, perhaps most notably, the lead order on the round was completed by Sprott Inc and its individual directors, the $7bn asset management company formerly helmed by famed portfolio manager Eric Sprott.


Bill Gates shares his views on new technologies, HoloLens and Bitcoin

29 January 2015 | Viraj Shah |

Bill Gates is currently engaged with Microsoft Corporation (NASDAQ:MSFT) as Technology Advisor, where he commits about third of his time on Microsoft-related projects. However, there is hardly any information on projects in which he is playing a key role. Recently, Gates appeared for a third time on a Reddit AMA (Ask Me Anything) show.

Gates shared his views about technology evolution over the coming decades, his involvement in Microsoft’s “Personal Agent” project,” as well as about technological innovations like HoloLens and digital currency Bitcoin.


Bill Gates: Digital Currency Can Help the Poor, But Not Bitcoin

28 January 2015 | Kate Knibbs |

Bill Gates has high hopes for digital currency as an important banking tool for the poor. But Bitcoin isn’t one of those currencies, he said in a Reddit AMA today. At least not in its current form.

Gates extolled the value of digital currency in his AMA last year as well, explaining that since many poor people in developing countries don’t have access to traditional banking, it’s not financially worth it for banks to put branches in areas where the amounts stored and transferred are so small, leaving the poor at a huge disadvantage when it comes to exchanging, saving, and accessing money.


Huobi Doubles Down on International Market With Fee Cuts

28 January 2015 | Jon Southurst |

Huobi, one of China’s ‘Big Three’ exchanges, says it is making international growth its top priority in 2015, and has launched incentives for overseas customers to use its USD trading platform BitYes.

All USD deposit methods will be free until 31st March. This includes OKPAY, AstroPay, Mayzus, Payza and Skrill Online Bank Transfer (OBT).

BitYes will also implement a temporary ‘maker-taker’ trading fee structure, rewarding those who set limit orders. The ‘maker’ (limit order) fee will be 0% and ‘taker’ (market order) fees will range from 0.2% to 0.08% depending on previous 30-day trading volume. This fee structure is effective until 28th February.

The company has removed fees all together on litecoin trading until 30th June.


Bitcoin price leaps 25% as US exchange launches

28 January 2015 | Sean Keach |

The price of Bitcoin is finally on the up again, having seen a hefty 25 per cent surge in the last 24 hours.

This is largely thanks to the opening of the USA’s first officially licensed Bitcoin exchange, as reported by IBTimes.

It’s good news for Bitcoin investors, as the rise marks a turnaround in fortunes for the previously ailing cryptocurrency.

Back in December, we reported that Bitcoin had been tagged up as the ‘worst investment of 2014’, beating out the Greek stock market and the Russian ruble for terrible investment quality.