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GAW Miner’s Joshua Garza Faces Up To 20 Years in Prison After Guilty Plea

July 25, 2017 by Alex Lielacher at Bitcoin, News, Regulation

Joshua Homero Garza, the man behind the Ponzi schemes which were disguised as cloud mining operators, GAW Miners and ZenMiner, pleaded guilty to one count of wire fraud in a Connecticut court on July 20. The announcement was made by the United States Attorney for the District of Connecticut, Deirdre...

Recently Closed Dark Web Marketplace AlphaBay Was Ripe Ground For Phishing

July 24, 2017 by Alex Lielacher at Bitcoin, Commentary, News

A hacker, operating under the pseudonym “PhishKingz,” has allegedly generated over one million dollars in just 14 months on the recently closed down dark web marketplace AlphaBay by running a phishing scam. The hacker gave an interview to DeepDotWeb detailing how profitable the operation has been. “I have a trade...

Ayn Rand and Bitcoin: Exclusive Interview With Jennifer Grossman, Atlas Society CEO

July 18, 2017 by Michael Scott at Bitcoin, Interviews, News

Who is John Galt? And who is Jennifer Grossman? The former is the mythical hero featured in Ayn Rand’s perennial best-selling novel Atlas Shrugged. Then there is Grossman, CEO of the Atlas Society, a research and advocacy organization that "promotes Open Objectivism; the philosophy of reason, individualism, achievement, and freedom...

Coordinated International Law Enforcement Effort Leads to Shut Down of AlphaBay

July 17, 2017 by Alex Lielacher at Bitcoin, Business, News

On July 5, Alphabay, one of the biggest marketplaces on the dark web, went offline mysteriously with no explanation from its developers or administrators. The website has yet to resume service, and it is believed to have been shut down by law enforcement. AlphaBay started its operations in December 2014,...

Coinbase and the Evolving Crypto Taxation Landscape

July 14, 2017 by Michael Scott at Bitcoin, Interviews, News, Regulation

Further reflecting the ongoing uncertainty around today’s cryptocurrency tax environment, newly released court documents appear to reveal the intention of the U.S. Internal Revenue Service (IRS) to more narrowly focus its investigation in its ongoing saga on obtaining user information from Coinbase. According to the July 6 notice, the IRS...

Do You want a bit of Bitcoin with those Stamps?

July 11, 2017 by Christoph Bergmann at Altcoins, Bitcoin, Business, News

As reported by derStandard.at on July 10, you can now buy gift cards for bitcoins, ether, dash and litecoin in thousands of Austrian post offices. Have the country's post offices suddenly become bitcoin sellers? The postal companies in Austria and Germany have something in common; both were formerly state companies...

Altcoin Markets are in Full Bloodbath Mode

July 11, 2017 by Christoph Bergmann at Altcoins, Bitcoin, Finance, News

Holding Altcoins these days is not much fun. The bubble pops, prices are in freefall, and the blood is flowing. Nearly every Altcoin lost 20 percent or more in last days. When will the bleeding stop? Ouch! Whoever holds a lot of Altcoins might not like to look at the...

The Art of the Crypto Scam: What To Watch Out For

July 9, 2017 by Michael Scott at Altcoins, Bitcoin, Commentary, News

In June, U.S. authorities charged a British businessman with fraud, alleging that he was the mastermind behind a fraudulent scheme, deceiving investors through a fake trading platform called Bitcoin Store. Bitcoin Store was thought to have been “an easy-to-use and secure way of holding and trading Bitcoin,” pulling several million...

A strong bitcoin holding up the weight of South Korea

South Korea Prepares Legislation to Regulate Cryptocurrency Market

July 6, 2017 by Alex Lielacher at Altcoins, Bitcoin, News, Regulation

South Korea has announced plans to adopt changes in its existing laws in order to create a more regulated space for cryptocurrency trade to occur. These changes are part of an effort to protect South Koreans from any possible risks arising from a lax regulatory framework. The bills are being...

The Global Village of the Big Block Community

July 5, 2017 by Christoph Bergmann at Bitcoin, Commentary, News, Tech

At the conference “The Future of Bitcoin” in Arnhem, the ‘Big Block’ community met to listen to talks and shake hands. The event expressed a strong belief that on-chain scaling is possible and necessary. Among the many highlights of the event have been a furious presentation of Pseudo-Satoshi Craig Wright...

Ransomware Victims Pay $9,000 in Bitcoin, Receive No Decryption Keys

June 29, 2017 by Joseph Young at Bitcoin, News, Tech

On June 27, global ransomware Petya encrypted the computers of victims concentrated in Europe, including the Ukrainian government, banks, a Russian oil company, British advertising company WPP and other organizations internationally. Sources revealed that the developers and distributors behind the Petya ransomware demanded individual victims to pay $300 in bitcoin...

Swiss Villa on Sale for 829 Bitcoin

June 27, 2017 by Christoph Bergmann at Bitcoin, Finance, News

A Swiss real estate agent has offered a Villa in Ticino for 829 bitcoin. That’s the first Swiss Villa sold for bitcoin - but just the tip of the iceberg. Is the leading cryptocurrency on its way to becoming the global currency of the wealthy? Sometimes it is said, bitcoin...

Venezuela in Crisis: Bitcoin Remains a Haven

June 27, 2017 by Joseph Young at Altcoins, Bitcoin, News

The inflation rate of the Venezuelan bolivar has increased to triple digits, leading to a financial turmoil which Venezuelans have struggled to cope with over the past two years. As a result, families and households have turned toward bitcoin, a decentralized digital currency, to mitigate the financial damage inflicted by...

Understanding Block Weight: How much Capacity does SegWit really Give?

June 26, 2017 by Christoph Bergmann at Bitcoin, Blockchain, News

With SegWit2x we’ll soon experience the activation of SegWit. Block size will be replaced by block weight, transactions capacity will be increased, and fees will fall. But how exactly and to what scope is not an easy question. In recent weeks the public argument shifted from the question, if SegWit...

Bitcoin Wallets and Exchanges: Haven for Cybercriminals?

June 25, 2017 by Michael Scott at Bitcoin, News, Regulation

It is widely known that Bitcoin has enjoyed immense popularity with underground crime markets because of the anonymity associated with financial transactions. Despite becoming mainstream for traditional businesses and everyday consumer commerce, crypto’s nefarious use remains strong, with ransomware and other criminal actors brazenly seeking to extort payment in bitcoin...

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