MAR 6 DIGEST: Third US Marshals Bitcoin Auction Sees Increased Bidder Interest, Study Suggests Miners Lose Money

The US Marshals Service announced that 14 bidders participated in yesterday's auction of 50,000 BTC, a university study suggests that most BTC miners lose money, and more top-stories for March 6.

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MAR 6 DIGEST: Third US Marshals Bitcoin Auction Sees Increased Bidder Interest, Study Suggests Miners Lose Money

The US Marshals Service announced that 14 bidders participated in yesterday's auction of 50,000 BTC, a university study suggests that most BTC miners lose money, and more top-stories for March 6.

Third US Marshals Bitcoin Auction Sees Increase in Bidder Interest

The US Marshals Service (USMS) has announced that 14 bidders participated in yesterday's auction of 50,000 BTC, placing 34 bids over the course of the six-hour event.

The figure was up slightly from the 11 bidders and 27 bids entered in December's auction, but down from the 45 bidders and 63 bids during the first auction in June, 2014.

Academic Paper Suggests Bitcoin Miners Lose Money

A paper published by researchers from the New York University Polytechnic School of Engineering provides insight into the world of bitcoin mining and reveals the reason why many bitcoin miners struggle to break even.

The authors, Luqin Wang and Yong Liu, collected data on the bitcoin blockchain from the creation date of the genesis block to March 11 2014, which includes 290,089 blocks and 34,646,076 transactions, providing for a very thorough – although perhaps slightly outdated – research.

Hong Kong Police Arrests Suspects Involved in MyCoin Bitcoin Scam

The Hong Kong Police Commercial Crime Bureau (CCB) arrested five suspects that might have been involved in last month's Bitcoin investment fund scam worth US$8 million.

The arrested individuals include three women, aged somewhere between 48 and 55, and two brothers, both in their late 30s. While the former are accused to have promoted the Ponzi company MyCoin, the latter are said to have stolen money from some of the victims.

Hong Kong Police Arrests Suspects Involved in MyCoin Bitcoin Scam

China's Possible Shift Towards Transparency in Crypto- Regulation Divides Bitcoin Community

Chinese lawmakers have delivered long-awaited clarification on foreign tax policy, leading to speculation that further concrete financial statements and possible clarification of its stance on Bitcoin could be imminent.

Major Chinese exchange BTCChina quoted cryptocurrency lawyer Roland Sun, who declared that “Bitcoin and digital currencies have been officially recognized as lawful virtual commodities” by Chinese authorities. However, Weiwu Zhang, a prominent Bitcoin commentator, conversely told CoinTelegraph that there was no real cause for optimism.

China's Possible Shift Towards Transparency in Crypto- Regulation Divides Bitcoin Community

Bitcoin Exchange Kraken Revamps Their Website for Margin Trading

The popular bitcoin exchange Kraken announced that they will be redesigning their website as the exchange comes closer to implementing margin trading.

Kraken seeks to make their website more intuitive and friendly to newer users. The company will be focusing on making their design simpler and making it easier sign up to and learn how to trade on the website.

The new design is set to be implemented in “the next few days.”

Japan’s New Crypto-Exchange Aims to Fill Mt.Gox Vacuum, Improve Bitcoin’s Image

Japanese startup Tech Bureau Inc. launched a new cryptocurrency exchange, dubbed Zaif exchange. Zaif exchange supports bitcoin as well as the "Japanese Dogecoin," Monacoin, in a bid to become the hub that connects Japan to the global cryptocurrency market.

According to Tech Bureau Inc. CEO Takao Asayama:

"Unfortunately, the first newsworthy event related to Bitcoin in Japan was the collapse of Mt. Gox, which has fueled a lot of negative coverage in the media. (…) We are creating an environment that encourages Japanese people to increasingly rely on crypto currencies in the future."

Japan’s New Crypto-Exchange Aims to Fill Mt.Gox Vacuum, Improve Bitcoin’s Image

BitPay Announces the Bitcore Wallet Suite

BitPay introduced a set of related open source projects that aim to provide a foundation for Multisignature HD Bitcoin Wallet developments. The set consists of a multisig HD wallet service software, client library to communicate to the service, and a command line interface multi-sig wallet based on bitcore-wallet-service.

Blizzard Creates Own Digital Currency for World of Warcraft, Still Doesn’t Accept Bitcoin

Blizzard, one of the biggest game producers, announced the release of an in-game digital currency tradable as tokens in their upcoming patch of World of Warcraft.

“One big question that arises here is why did Blizzard opt for in-house digital currency? Simply to get some cash flowing from their users? But then why didn’t they make it freely tradable by accepting bitcoin?

The answer is simple: because they appreciate a closed market where they can control the supply of their coins, and also their proposed system is simpler to maintain against cyber-attacks on accounts.”

Blizzard Creates Own Digital Currency for World of Warcraft, Still Doesn’t Accept Bitcoin


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