MtGox: the saga continues

22. April 2014 // 0 Kommentare

When we last left the story, MtGox had just made the surprising discovery of 200,000 ‘forgotten’ bitcoins, police were investigating the exchange and a judge had taken the unusual step of allowing frustrated victims to carry out their own forensic examination of the blockchain in an attempt to establish what really happened to the missing [...]

China: If Bitcoin remains small, it will be allowed to live

16. April 2014 // Ein Kommentar

On a trip to Saigon, where he is meeting an American businessman, Zhang Weiwu watches mesmerised as April 15th rolls over the Chinese Bitcoin scene – and nothing happens. He feels vindicated in his predictions and speculates further about how the situation will unfold. To help explain, he tells the old Chinese story of a servant who taunts his master with an empty jar; the tale of a nightclub that Disappears without being banned; and the episode of how a Bitcoin exchange threated the People’s Bank of China. Bitcoin’s future in China, he concludes, will be [...]

‘It’s not a survivor’s game. It’s a loser’s game.’

12. April 2014 // Ein Kommentar

A few days in the life of a Chinese Bitcoiner. Zhang Weiwu meets the CEO of a large exchange and is surprised to find himself in a conversation about its future. Here, he explains why the Chinese think China is the world and finds out that the biggest Chinese exchange really might shut down, while he waits for his plane to [...]

4 reasons why Bitcoin is a revolution

11. April 2014 // Ein Kommentar

We often talk about Bitcoin as if it is an investment or a payment protocol. But this misses a vital point. Bitcoin is not a currency, it’s a revolution – the biggest revolution in money for centuries, whether technological or [...]

Brainwallets: A cautionary tale

28. März 2014 // 2 Kommentare

There are several ways to keep your Bitcoins safe. Brainwallets are a way of holding coins without leaving clues either online or in the real world. You simply store your private key in your head by means a passphrase. But there are considerable risks to doing this, as our Author Brandon Hurst [...]

MtGox update: new discoveries but the mystery remains unsolved

25. März 2014 // 0 Kommentare

The MtGox saga continues with the surprise ‘discovery’ of 200,000 bitcoins on March 20th. Plantiffs track the missing bitcoins by blockchain-forensics. The coins were found in what the exchange called a forgotten ‘old-format’ wallet that was audited in the course of Gox’s civil rehabilitation proceedings. MtGox’s statement drew attention to the fact that this reduced the number of missing coins to around 650,000, of which 550,000 belong to [...]

The curious picture of bitcoin in the UK

9. März 2014 // 0 Kommentare

Britain is home to an enthusiastic community of bitcoiners, but the UK as a whole is deeply ambivalent about the cryptocurrency. Whilst there are plenty of individuals who recognise the potential of bitcoin and are keen to explore its possibilities, the establishment – specifically the banks and the government – are rather more standoffish and uncertain. This conflict will likely both hamper bitcoin’s adoption in the UK and, paradoxically, fuel its rise as an unofficial currency. In January this year, London saw its first Satoshi Square event. Satoshi Square is an informal, outdoors face-to-face meet-up held on the edge of the City of London – the city’s wealthy financial district and, indeed, the world’s financial capital. Here, the narrow streets and picturesque buildings of [...]

News about our marketplace – February

22. Februar 2014 // 0 Kommentare

The devil is in the details. That’s why we work continuously to improve them. Since the last update, we have further improved the security of our exchange, made trading simpler and more transparent, and made funding your account easier for mobile users. There hasn’t been much time for our team to relax over the last two weeks! Just like nearly everyone else, we’ve been affected by the transaction malleability bug you’ll have heard about in the news. For us, this happened at the most inconvenient time – just as the Inside Bitcoin conference was taking place in Berlin. Of course, we still put in a strong presence at Europe’s most important Bitcoin conference, with our CEO Oliver Flaskämper delivering the Keynote Address. Nothing is more important to us than the security of our [...]

Mt Gox update, but no news

20. Februar 2014 // 0 Kommentare

Beleaguered exchange Mt Gox has released a keenly-anticipated update on its status, but the news offers anxious bitcoin holders nothing to inspire confidence. In fact it says nothing new. The long awaited press release seems to be an update on an update: ‚In addition to the technical [malleability] issue, this week we have experienced some security problems, and as a result we had to relocate MtGox to our previous office building in Shibuya… combined with some other security and technical challenges, [this has] pushed back our progress.‘ Yesterday Mt Gox was eerily calm, with low volumes and trading restricted to a narrow range of just a few dollars. Similar behaviour was seen on other major exchanges, as traders waited to find out whether the world’s first and [...]