Bitcoin firm was licensed in Thailand

Second bitcoin trading company has emerged as a legally registered entity in Thailand after obtaining e-commerce registration with a local district office in June, with its digital currency trade restricted to baht, Bangkok Post tells us. The registration was obtained despite doubts over the legality of the virtual currency. Continue reading…

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Flash Crash in BTC-e

The price of bitcoin on the CoinDesk Bitcoin Price Index (BPI) has declined more than $60 today (by the time of publication), falling to a low of $435.60, as reported by CoinDesk.
The development is the latest blow to the price of bitcoin, which had slumped to its lowest level since May late last week. The decline has since been largely attributed to a worsening short-term news outlook, as well as the industry’s margin traders, though alternative theories have been proposed.
However, a more serious decline was observed at one major bitcoin exchange.
BTC-E Bitcoin price hit a low of $309 in early morning trading today. Continue reading…

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Why is Dogecoin burning their coins?

In the world of cryptocurrency, no coin is more common than Dogecoin.
In fact, by the end of 2014, there will be 100 billion dogecoins in existence, far more than any other coin out there. As a result, the supply is far higher than the demand. That may be a result of a lack of foresight from the Dogecoin devs, since none of them thought Dogecoin would take off like it did, according to The CoinFront.
In a slight response to this, the Dogecoin community is currently voluntarily destroying their Dogecoin in a “burn” event called Dogeparty. Continue reading…

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Jed McCaleb has agreed to avoid 9 Billion XRP sell-off

Ripple Labs has reached an agreement that will prevent original co-founder Jed McCaleb from selling his 9bn XRP, reported by CoinDesk.
The open-source payment network provider issued the announcement in a blog post penned by Director of Communications Monica Long. The post said that McCaleb, who recently launched his new project Stellar, had agreed to a distribution timeline that will block him from selling more than a specific allotted amount of XRP each year over the next seven years. Continue reading…

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JP Morgan’s attempt to patent Cryptocurrency is denied

While big players in the field of payment systems like Visa and PayPal have been trying to cozy up to the concept of cryptocurrency, reports have resurfaced about US bank JP Morgan filing patent applications for a fabled bitcoin alternative.
JP Morgan declined to comment on its patent plans.
The application in question, pertaining to assignee JP Morgan Chase N.A., describes an invention that includes a “method and system for processing internet payments using the electronic funds transfer network”. Continue reading…

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Rakuten Super Logistic acepts Bitcoin

Rakuten Super Logistics U.S., an order logistics company owned by Japan-based e-commerce giant Rakuten, has already begun accepting bitcoin payments for its shipping services.
The integration comes nearly a month after speculation began that the e-commerce company could soon leverage bitcoin as a payment method. In July, CEO Hiroshi Mikitani said in a speech that he believes Rakuten will adopt bitcoin “sooner or later”, as CoinDesk published.
Rakuten Super Logistics cited consumer demand as the reason for the decision. Continue reading…

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Consumer Financial Protection Bureau warns on Bitcoins

The Consumer Financial Protection Bureau (CFPB) issued its consumer advisory on virtual currencies, including Bitcoin. The agency warns consumers to be aware of hackers and schemes, volatile exchange rates and a lack of government protection, as reported by CoinDesk.
The news comes two months after the Government Accountability Office, the investigative arm of the US Congress, asked the CFPB to look more closely at the digital currency industry. Continue reading…

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Payza: buy Bitcoin in 190 Countries!

Payza, the global money transmitter agent with offices in London, New York City, Montreal, Mumbai, Dhaka, Moscow, and Stockholm, announced a new way to buy Bitcoin.
With Payza’s newest feature, customers in 190 countries can withdraw funds from Payza directly to their bitcoin wallets. In effect, Payza is giving its members a simple way to buy bitcoins. Continue reading…

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Commission-free NXT Digital Goods Store for independent artists

The NXT Digital Goods Store (DGS) is set to launch in the second week of August, offering an exciting new platform for independent artists to sell their material. This news has come from NXT forum.

DGS is built on NXT, a versatile and feature-rich cryptocurrency. Cryptocurrencies are a suite of new technologies that allow users to send money directly between each other over the internet, quickly, securely and almost for free. Whilst most cryptocurrencies are restricted to money transfer alone, however, NXT has developed the concept to allow transfer and trading of any digital asset – including media files. The result is a platform that allows musicians and other content creators to deal directly with their customers, rather than relying on expensive middlemen. Continue reading…

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Bitcoin Foundation fights to extend BitLicense Comment Period

The Bitcoin Foundation threw its influence into the New York BitLicense debacle on the morning of August 6, 2014. Coindesk reports that the Foundation will be requesting an extension on the 45 day comment period, in which the public can offer the New York Department of Financial Services (NYDFS) suggestions and criticisms for the proposed Bitcoin regulation. Continue reading…

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