Newsletter #58
3 - 9 January 2015
It was another tough week with Bitstamp reporting that their hot wallet was hacked resulting in a loss of US$5 million. Thankfully the bulk of their holdings are stored safely in cold storage.
Bobby
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BITCOIN PRICE (BITSTAMP)
Latest News
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Bitstamp has revealed the loss of roughly 19,000 BTC as a result of a platform security breach. The revelation follows disclosure that Bitstamp's wallet system was compromised, prompting it to halt deposits and later shut down its platform entirely.
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A Forensic Analysis of Bitstamp Hot Wallet Theft - 2 to 5 Jan 2015
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Bitcoin entrepreneur and activist Roger Ver has been denied a non-immigrant visa to visit his native USA for a third time.
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Market
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Richard Gendal Brown discusses the difference between Push (Bitcoin) and Pull (Credit Card) payment mechanisms. He looks into the "circle of trust" required for both types of transactions and the risks involved in both.
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This analysis from BTCsx will look at bitcoin’s cycles of volatility and stability to identify trading strategies during stable periods.
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Jack Liu offers his opinion on how the Bitcoin industry should not compete on security because there is no lender of last resort like the Fed, and no FDIC for Bitcoin. Therefore, all players should follow an ever improving set of best practices and its adherence should be cross checked.
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Ecosystem
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Paycoin has issued a statement attempting to explain why the US $20 pay floor was never promised, but previous comments have some wondering if they changed their stories.
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Following the recent announcement of Josh Garza's Paybase’s acquisition of Coin-Swap, representatives from Litecoin, Dogecoin, Blackcoin and Neoscoin respectively requested to be delisted from the cryptocurrency exchange in protest against GAW Miners' suspicious behavior and misleading statements.
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CoinDesk's latest State of Bitcoin report features an analysis of the key data and events of last year, and a look ahead to what 2015 might bring.
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Learn
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Brett Scott took four days going through different academic search engines to build a large database of academic research on Bitcoin.
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Daniel Larimer of BitShares explores the questions of Bitcoin decentralization if Bitcoin adopted PoS and delegated PoS.
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