Tag - Bitcoin
This week heralds the return of the long-dormant MacNN podcast! Join this week's hosts, MacNN editor Charles Martin, alongside staff writer Michelle Elbert, as they discuss the events that got our attention, needed further discussion, or just plain tickled our fancy.
The trial of Ross Ulbricht in connection with the online BitCoin-fueled drug market known as Silk Road continued today with the testimony of a buyer-turned-dealer. Previously, the defense had attempted to suggest Ulbricht was framed, while the prosecution brought in an auditor to show that a chunk of Ulbricht's current reserve of BitCoins was obtained through Silk Road-related transactions.
Coinbase.com, an online Bitcoin wallet site founded in 2012, has announced the start of a new federally-regulated exchange for the digital currency. Coinbase Exchange is available in 24 US states, and stores the user's funds in a special, and now insured, wallet.
The latest update in the trial of Ross Ulbricht's involvement with the controversial but now-closed Silk Road contraband market site involves Ulbricht's collection of bitcoins. A researcher who has audited the stash claims that approximately 20 percent of Ulbricht's bitcoin funds were transferred directly from Silk Road to his accounts, a transaction that would have been worth close to $3 million based on the value of the digital currency at the time.
European Bitcoin exchange Bitstamp suffered a theft yesterday with its operational wallet, used for customer transactions being drained of around 19,000 Bitcoins (roughly $5 million in US dollars) in seconds. While the vast majority of the company's coffers are in cold storage, the service has temporarily shuttered, and warned its users to not deposit any of the virtual currency to previously-used Bitstamp addresses.
Citing sources close to the law enforcement investigation, Japanese media are reporting that the Mt. Gox Bitcoin exchange theft was largely an inside job. A report published today claims that of the 650,000 purloined Bitcoins, only about 7,000 are missing as a result of external theft, with the rest having been stolen by a source internal to the exchange. However, the newspaper stops short of naming any specific suspects in the case.
New York City is considering upgrading its options for paying parking tickets to include more modern platforms, such as Apple Pay, according to MarketWatch. The focal point would be a new mobile app allowing people to scan a ticket and then use Apple Pay, or other options such as PayPal or potentially Bitcoin. The same app would give drivers the choice to schedule a hearing instead.
Microsoft is embracing Bitcoin, by allowing users of its services to pay using the cryptocurrency. US customers are able to add funds to their Microsoft Account using a Bitcoin wallet, which can then be used to may payments in the Windows, Windows Phone, and Xbox stores, as well as paying for subscriptions for Xbox Live and Xbox Music.
The United States Marshals Service (USMS) will be holding a second Bitcoin auction, selling part of a collection seized during the take-down of Silk Road. The auction will involve the sale of 50,000 bitcoins, previously owned by Ross Ulbricht, with the current $400 value for each coin giving the entire collection a total worth of around $20 million when sold.
Circle, a start-up offering Bitcoin banking facilities, has opened itself up for business after a brief invitation-only period. The service, acting as a simplified Bitcoin wallet, can now be used by anyone in the world rather than an invited few, allowing customers to buy the digital currency and transfer the funds to other online accounts.