According to social media postings and sources familiar with BitPay the company has laid off 9 employees today. These layoffs come not long after BitPay has finished spending on the first of three Bitcoin Bowls they have committed to sponsor in an obligation that runs through December 2016. Continue reading
Author Archives: Aaron 'BingoBoingo' Rogier
BitStamp Resumes Operations
Today wounded Bitcoin exchange Bitstamp resumed operations and moved to moved infrastructure into San Francisco. In a letter posted on the exchanges's website CEO Nejc Kodrič describes the new Bitstamp is build in a way that seems a bit contradictory: Continue reading
Judge Forrest Rules Uncharged "Murder Plot" Can be Presented at Trial
As predicted the prosecution in the Silk Road case will be able to present the uncharged murder for hire plot to impeach Ross Ulbricht's character at trial next week.
Remittance Company Xoom Loses Corporate Cash To Fraud
Xoom's Chief Financial has resigned amid news that $30.8 million in corporate money had been transfered overseas. Xoom's primary business is allowing individuals in the United States to send money to people outside of the country.
This case continues to highlight the extreme vulnerability too fraud faced by companies handling United States Dollars. This company whose entire business was foreign money transmission lost when facing the inherent structural deficiencies of the fiat banking and money transfer system. It seems unlikely that the fiat monetary system can survive its backbone of insecurity.
BitStamp Wallet Now Officially "Hacked"
A total of 18,867.62695929 BTC were moved from BitStamp's hot wallet to a wallet that is outside of their control. A statement attributed to Nejc Kodrič appears on Coindesk which differs from the one available on Bitstamp's own site. The Statement attributed to Nejc Kodrič on CoinDesk: Continue reading
20,000 In Britain Investigated For Online Comments
The Independent reports that more than 20,000 people in Britain have been investigated by Law enforcement for comments they have made online in a story about a law enforcement investigation of a tabloid columnist for an online comment. Continue reading
ESPN Sold Their Bitcoins
The New York Post reports that ESPN Events, the operator of the Bitcoin Bowl, sold their $500,000 rights payment delivered in Bitcoin by BitPay immediately upon receipt. Further the two competing schools accepted their appearance fee in dollars. BitPay is still under contract to sponsor this bowl game for two more years giving ESPN two more chances and various schools four more chances to hold the Bitcoin BitPay offers. Continue reading
New Bitcoin Foundation Releases Year End Report
The new Bitcoin Foundation has issued a year end address where they have highlighted the work accomplished so far to produce a higher quality reference Bitcoin implementation. The foundation which came together in late October has focused their efforts on producing a patch set for the Bitcoin 0.5.3 codebase that results in a minimal reference implementation of the Bitcoin Protocol. Continue reading
2014 Story of the Year: Mt Gox Finally Dies
This year's biggest story in Bitcoin actually predates the founding of Qntra. Back in February Mt Gox finally closed its doors. Since Jed McCaleb opened it for Bitcoin Trading in July of 2010, through its astounding three years of incompetence and mismanagement under Mark Karpelès Mt Gox had served as a central source of drama and uncertainty in the Bitcoin space. Continue reading
Bloomberg: FBI Investigating Companies For Retaliatory Cyber Attacks
According to Bloomberg the FBI is investigating companies for violations of the 1986 Computer Fraud and Abuse Act amid rumors that companies are taking offensive action in retaliation against "attacks" on their information technology infrastructure.