Bitcoin News in Review: Price Jumps, Bitcoin Black Friday, Coinapult, and More

Journalist:
December 1, 2014

Welcome back to another Bitcoin News in Review, where we feature some of the top stories of the week here on CryptoCoins News. This week (23 November to 30 November) was all about Bitcoin Black Friday. However, we also saw a rise in the price of bitcoin and several altcoins, saw Coinapult unveil an SMS bitcoin wallet, and more. Keep scrolling for this week’s biggest stories.

Price Jumps (and Drops)

The bitcoin price rose to ~$381 on Bitcoin Black Friday, and is currently at $380. The price was in the high $350’s earlier in the week, and was on a steady downwards trend until just recently. Bitcoin usage surged on Black Friday, and many bitcoin users immediately bought back the bitcoins they sold, which may be responsible for the price rise.

Ripple (XRP) saw a massive price increase recently, and many are wondering if the altcoin is going through a pump and dump. The XRP price passed the $0.01 mark before reversing, and Ripple now has a market cap of over $330 million. However, there hasn’t been any significant announcement from Ripple that would cause such a massive price rise, suggesting a pump and dump.

CaliforniaCoin also saw a massive price rise this week. In fact, the price rose 900% before dropping again. It seems like CaliforniaCoin went through a small scale pump and dump, and investors are recommended to stay away from what has essentially become a dead altcoin.

Bitcoin Black Friday

Bitcoin Black Friday is a worldwide shopping event where bitcoin users can score amazing bitcoin-exclusive deals at places like Newegg and Beepi. The “most popular day in the history of bitcoin commerce” has already caused the bitcoin price to rise to $381. While Black Friday may be over, many online stores are extending their sales till Cyber Monday. So if you’re looking to save big, you’ve still got a little over 24 hours.

Did you buy something cool with bitcoin on Black Friday? Share it in the comments section below!

Coinapult Bitcoin SMS Wallet

Just yesterday, Coinapult announced a new Bitcoin SMS service. This will allow bitcoin users to send BTC to anyone worldwide with just a text message. No data plan required. Bitcoin by SMS isn’t anything new; Blockchain.info and Coinbase have had a similar service for years. However, as Coinapult explains:

“At Blockchain you have to login/create a wallet to receive the funds sent by SMS, data service is required for functionality. At Coinapult you don’t ever need to leave the SMS environment to use funds sent to you. Spend, invoice, view transactions and even lock BTC to a range of currencies and assets with simple txt commands.”

Still, Coinapult’s solution isn’t perfect. It’s centralised and susceptible to man-in-the-middle attacks. However, Coinapult recognises these flaws and simply hopes to offer a convenient way to send small amounts of bitcoins via text message.

“Yes, it is possible that a dishonest telecom or telecom employee could intercept or distort the messages. For this reason, Coinapult does not advise using these accounts for large amounts or long-term storage. Our SMS wallet is a convenience for people with few/no options.”

Regardless, Coinapult’s solution is useful for people with limited options in sending and receiving BTC.

HamRadioCoin

If sending bitcoins via text seems cool, check out HamRadioCoin. As the name suggests, HRC uses the ham radio mesh to serve an alternative blockchain, and coins can be sent through radio rather than the internet. While such a system may not be practical, it’s certainly an innovative and intriguing concept.

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That’s it for this week. Be sure to follow CCN on Facebook and Twitter for the latest cryptocurrency news.

Images from Shutterstock.

Neil Sardesai @@neilsardesai

I enjoy keeping up with the latest stuff in science and technology and have been following Bitcoin for a few years now. I also occasionally post cool stuff on twitter.