The Bitcoin Core development team has released the latest version of Bitcoin Core; Cloud mining service has been hacked; bitcoin lost over 10% of its value in minutes as news of a Greek bailout deal emerged, and more top stories for July 13.

Bitcoin Core Version 0.11.0 Released

The Bitcoin Core development team has released the latest version of the main Bitcoin implementation, Bitcoin Core 0.11.0. This update supports running a fully validating node without maintaining a copy of the raw block and undo data on disk, includes changes to reduce the default memory usage of a node, improves the algorithm used for fee estimation, added some privacy features, and more. Hacked, User Database Put Up For Sale

Cloud mining service has been hacked, and hackers are offering the entire user database for 1 bitcoin. Whoever visited the website this morning was greeted with a CSV (comma separated values) file containing a sample of this user database. Moreover, the passwords and other user information for the entirety of the database were not stored as a hash, making them available to the hackers and the potential buyers.

Bitcoin Drops 10%+ Instantly as Greece Strikes Deal

Bitcoin promptly lost over 10% of its value this morning as news of a Greek bailout deal surfaced. The latest financial aid package, agreed after over 17 hours of talks between Athens and its creditors, will see Greece adhere to strict financial reforms. Bitcoin activity, which had been riding high on speculation of a Grexit and accompanying financial fragmentation in the Eurozone, promptly reacted with panic, with Kraken trading as low as US$282 per coin from a high of US$311 just minutes earlier.

Bitcoin Drops 10%+ Instantly as Greece Strikes Deal

F2POOL Generates Largest Bitcoin Transaction Ever Recorded

F2POOL, one of the largest Chinese bitcoin mining pools, has generated the largest bitcoin transaction ever recorded in an attempt to alleviate the massive spam attack launched on the bitcoin network this week. In order to process these transactions at a faster rate, F2POOL took the unusual step of creating a custom transaction that occupied an entire block. The transaction generated by F2POOL was 999 kilobytes in size, taking up the maximum storage of a block, or a packet of transaction data.

Anti-Bitcoin CEO of Reddit Resigns, Admitting Website’s ‘History of Mistakes’

Ellen Pao, the CEO of Reddit whose November 2014 hiring was quickly following by the shelving of the website’s short-lived Bitcoin project, has resigned from her job. She publicly took responsibility for the management errors that ultimately sent the platform into chaos, motivating a large portion of the user base to switch to a Reddit-clone news aggregator called Voat.

Anti-Bitcoin CEO of Reddit Resigns, Admitting Website’s ‘History of Mistakes’

VC Firm Block26 Makes First Bitcoin Bet on Airbitz Wallet

The recently launched blockchain specific venture capital firm Block26 has completed its first investment, contributing US$450,000 to the ongoing seed round for bitcoin wallet provider Airbitz. Block26 principal Ni'coel Stark indicated that Airbitz is representive of the kind of companies in which her new venture firm is looking to invest.


“We're really looking for nuances in the technology. Airbitz is an amazing wallet, it solves problems for consumers, but it's so much more than that. We see opportunities beyond the wallet, the ability that they have to go into security, their contributions to the Internet of Things, altogether they really make them fascinating.”

Greek Island Trials Digital Currency Solution to Boost Economy

Tourism business network Drachmae Connect is using NXT technology in attempt to help ease liquidity problems and business-to-business trade in the Island of Agistri. Support from the mayor of Agistri has enabled a partnership between the social network, Nautiliuscoin, the payment gateway, Coinstructors and SuperNET, as they begin testing in Greece.

Describing the company as a business-to-business platform, press contact for Drachmae Connect John McLeod explained:

“This solution draws inspiration from the highly successful WIR Bank that manages and issues the private currency WIR franc in Switzerland. The WIR Bank was established by two Swiss businessmen in 1934 in response to a failing economy and currency shortages.”

Greek Island Trials Digital Currency Solution to Boost Economy

UK to Address Illegal Bitcoin Gambling Activities

In response to bitcoin operators conducting activities that the UK Gambling Commission (UKGC) has deemed outside the law, the commission has made it publicly known that the operators must adhere to the country’s gambling laws. The regulators emphasized that anyone providing gambling services to UK consumers must have a license regardless of their location or the currency being used – including bitcoin.