Archive for the ‘Crypto News’ Category

The US Marshals Service to Auction 50000 More Confiscated Bitcoins

17, Nov 2014

usms-50k-bitcoins-auction

The U.S. Marshals Service (USMS) has announced that they will be holding another auction for 50000 more Bitcoins that have being seized from Ross Ulbricht accused of being the Silk Road black market operator. This is the second auction of confiscated Bitcoins from Silk ROad after earlier this year USMS held an auction for about 30000 BTC. Last time the news about the auction have caused a sudden drop in the Bitcoin price and we are probably also going to see similar situation this time. However this time things will probably remain calmer, especially considering the fact that the price of Bitcoin is currently lower and people should not be so worried like the first time.

Interested parties must register for the auction between November 17th and December 1st and the auction itself will take place on December 4th with the winner of the auction to be announces by USMS on December 5, by 5:00pm EST. It will be interesting to see if Tim Draper who won the previous auction for all of the coins offered will be participating this time as well and if he will be ne winner again with the highest bid.

– For more information about the second Bitcoin auction from US Marshal Service…

The First Cryptocurrency Bank Coming from Kraken and Fidor Bank

17, Nov 2014

cryptocurrency-bank

The online exchange Kraken and the German bank Fidor have announced their plans for building the first cryptocurrency bank in the world in order to offer an alternative to the big banks for the crypto currency users and businesses. The goal of the Cryptocurrency Bank (BYSE Bank or BICONDO), which is not the final name as the users currently have the option to vote for the name of the bank on the official website, wants to make it easier for people that are involved in the Bitcoin ecosystem to save valuable time and resources and not worry that a traditional bank may stop servicing their personal or business accounts because they are used for operations with Bitcoin. We’ve seen this happening in some countries, even though there is no official ban on Bitcoin or crypto currencies in general, however if the traditional banks refuse to work anymore with you, then you don’t have many options left. Could this be a sign that traditional banks are beginning to see Bitcoin and other crypto currencies as a threat already or is it just because of pressure they are getting form the government or some other powers with different interest.

Regardless, the project that the German online bank and the cryptocurrency exchange does seem like a good idea and looks very promising. Kraken and Fidor Bank are currently looking for investors, service partners and cryptocurrency enthusiasts to help turning the idea for the cryptocurrency bank to a reality. On December 15th/16th the companies are organizing a workshop in Munich, Germany for the project and you can register until November 24th to attend it if you are interested. We like the idea about a cryptocurrency bank and Kraken and Fidor Bank may turn out to the just the right people to make it happen.

– For more information about the First Cryptocurrency Bank project…

MintPal Justice, The Full Story of MintPal’s Demise

7, Nov 2014

mintpal-justice

If you still haven’t read how and what exactly led to the demise of the MintPal crypto currency exchange, one of the big ones for altcoin trading until a few months ago, then you might want to check out the website called MintPal Justice. The website is the official effort of the former partners of Alex Green aka Ryan Kennedy that have purchased the crypto currency exchange earlier this year to bring him to justice. On that website Michael and Ferdous tell the whole story from their point of view and how they became partners with Ryan Kennedy, or “Alex Green” – the CEO of MooPay Ltd for the acquisition of MintPal from its previous owners. It seems that Ryan Kennedy not only cheated and lied to the users of the MintPal exchange, but also his partners and employees in the end getting away with thousands of Bitcoins that are not his own. The website MintPal Justice also takes donations with the goal to cover the legal fees of the effort to bring Ryan Kennedy to justice. So far the effort has generated over 22 BTC in donations out of the goal of 75 total required (roughly $25000 USD).

– To read the whole story of MintPal’s Demise and to donate to the effort to bring Ryan Kennedy to Justice…


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