Bitcoin Roundup February 24, 2016


Bitcoin Splitsville: Hard Forks and Heart Breaks in Technology – CCN: Financial Bitcoin & Cryptocurrency News

With Bitcoin, we have finally arrived. Blockchain technology is now front and center. Big finance, and by way of, big money is now involved. Pandora’s Box is wide open and the new path forward wears a suit and carries a nice leather briefcase. Although this may not sit well with Tech Libertarians (or various degrees of this school of thought), this is velocity and trajectory that capitalism creates. The mainstream love that blockchain is receiving will, of course, affect the choices being made within Bitcoin. 


Dragon’s Tale : A Bitcoin Game Designed to Keep You Engaged – NEWSBTC

Dragon’s Tale is one of the exciting online bitcoin gambling platforms out there. The majority of Bitcoin gambling platforms on the internet offers casino games. Players on these platforms can play slots, card and table games which are popular in real world casinos. Even though players make money on these games and they are addictive, they still get boring after a while. 


California Bankruptcy Judge Says Bitcoin is Property, Not Currency – CoinDesk

A US district judge has ruled, for the purposes of a bankruptcy case in California, that bitcoins are a kind of intangible property.

As reported earlier this month by CoinDesk, the US Bankruptcy Court for the Northern District of California is hearing a case filed by the bankruptcy trustee for HashFast, a bitcoin mining firm that declared bankruptcy in 2014. 


Bitcoin consultants form Flux political party in Australia

Over the last few federal elections, Australia has seen an increase in the number of minor political parties that have stood for election in both houses of Parliament in addition to traditional independent members. This has had an effect upon Australian politics where the major parties have had to negotiate with a varied and volatile crossbench in order to pass or block legislation.

The policies that parties and their candidates take to an election aren’t always the ones they uphold in parliament. Sometimes, there can be a change in party policy during a term, with members usually bound to toe the line unless given a conscience vote. Otherwise, for independents and members of micro parties, there may be scope to compromise their stance on particular issues in backroom deals with the major parties against the wishes of the voters who elected them. 


Bitcoin Core 0.12.0 Released: What’s New? | Bitcoin Magazine

Today marks the official release of Bitcoin Core 0.12.0, the twelfth generation of Bitcoin’s reference client as first launched by Satoshi Nakamoto seven years ago. Developed by close to 100 contributors over seven months, the latest version of Bitcoin Core includes more than 20 improvements, particularly regarding performance, security and usability. 


Ledger Finds Bitcoin Hardware Wallet Ally In Segregated Witness – Bitcoinist.net

Very few people are aware of how Bitcoin hardware wallets work under the hood, as the software has to take various complex pieces of information into account. After all, such a hardware wallet solution would be quite useless if an attack could lie on the amount associated with the inputs of transactions as this could result in inflated fees. Ledger validates all transactions thanks to a proprietary Previous Output structure, called Trusted Input. 


21 Bitcoin Computer Enthusiasts Will Come Together In San Francisco – NEWSBTC

Ever since the 21 Inc Bitcoin computer has been released, there has been a general buzz of excitement in the digital currency community. This plug-and-play device is so much more than just a Bitcoin miner or Node, as the software package can also act as a development sandbox for various new forms of innovation. With so many people taking a liking to the 21 Bitcoin computer, it was only a matter of time until their first Meetup would be held. 


Bankruptcy judge rules bitcoin is ‘intangible property’ : CalvinAyre.com

A U.S. district judge considering bitcoins are “intangible properties,” at least for the purposes of a bankruptcy case in California.

Bankruptcy judge rules bitcoin is ‘intangible property’The court’s decision was in connection with a case filed by the bankruptcy trustee for bitcoin mining firm HashFast, which declared bankruptcy in 2014, CoinDesk reported.

The trustee wants Mark Lowe, a former promoter for the bitcoin mining firm, to return some 3,000 bitcoins that he claimed were “fraudulently transferred” to Lowe before HashFast’s collapse. The lawsuit, in turn, prompted the bankruptcy court to determine whether the digital currency should be treated as property or as currency.

If the virtual currencies were treated as currencies, Lowe will have to return the bitcoins at the value on the day they were transferred, which amounts to about $360,000. However, if the bitcoins were considered as properties, Lowe will have to shell out $1.3 million—the appreciated value of that 3,000 bitcoins.

One of Lowe’s lawyers, Brian Klein, argued that the court should take into consideration that two years ago, bitcoins were still being treated the same as dollars. However, U.S. Bankruptcy Judge Dennis Montali said bitcoins and dollars are not the same, and declared bitcoins as “intangible personal property.” 


Chainalysis Inks Bitcoin Analysis Deal With Europol, Irks Some Privacy Advocates | Bitcoin Magazine

Chainalysis signed an agreement with Europol on Friday that paves the way for the European law enforcement agency to use the New York-based company’s blockchain analytics tools to investigate criminals who use Bitcoin.

The deal between Europol and Chainalysis comes just days after news broke about a high-profile ransomware attack against Hollywood Presbyterian Medical Center. The attacker froze the hospital’s computer systems for 10 days and demanded 40 bitcoins, about $17,000, to restore service. The brazen attack and the hospital’s decision to pay the ransom has renewed the debate about the criminal uses of Bitcoin.  


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