BFX Tokens and BitCache Unleashed: BTCManager’s Week in Review for August 8
Compiled from contributions by Joseph Young, Nigel Dollentas, Jamie Holmes and Michael Scott.
Over the past week Bitfinex confirmed a hack that resulted in the loss of 119,756 BTC, a price amounting to $64 million USD. During this time the insurance policy which Bitfinex was insured under was updated though only in accordance with changes claimed to have been implemented back in January. A possible perpetrator has begun posting a 1000 BTC giveaway which raises the questions on if the give away is legit, fake or using the bitcoin stolen from the hack.
In the wake of the Bitfinex hack, Trezor, a company that is often referred to as the pioneer of bitcoin cold hardware wallet, recently published a report to provide a few simple methods regular bitcoin users can utilize to secure their funds. Trezor’s solution suggests relying on cold storage wallet service providers like themselves to secure funds.
Brave, a Bitcoin Browser focused on privacy, speed, and micropayments for content, has recently secured an initial seed fund worth $4.5 million from Propel Ventures, a $250 million venture fund started by BBVA. As a product of the combined efforts of Mozilla’s former CEO and the creator of Java, Brave promises a faster and safer user experience.
On August 5th, Kim Dotcom announced the re-launch of Megaupload will be accompanied by a new feature known as ‘BitCache’. Kim has gone about hinting that ‘BitCache’ will solve Bitcoin’s block size problems as well as other limitations of the blockchain and speculated that the price of bitcoin would soar into the thousands in terms of US Dollars. Furthermore, he claims that Megaupload 2.0 will “take decentralization, anonymity, and encryption to the next level.”
BTCMANAGER sat down with iPayYou founder Gene Kavner to talk about the platform which aims to boost the ease, safety, and usefulness of bitcoin for consumers worldwide. It allows users to hold, buy, send and receive bitcoin at strikingly low costs through a simple and secure website housing their personal bitcoin wallet. The two big attractions for iPayYou are the ability to send payments via email without the recipient already owning a bitcoin account and the ability to instantly cancel a transaction. Now, the platform has also added a method of Pay-by-Twitter, with other social media platforms in their sights.