Bitcoin News in Review: Silk Road 2.0, Changetip, Bitcoin Price, and More

Journalist:
November 10, 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 (2 November – 9 November), Silk Road 2.0 and various other similar services were taken down by the FBI, bitcoin tipping app ChangeTip went viral, the bitcoin price has been on the rise, and more. Keep scrolling for this week’s top stories.

Also read: Bitcoin News in Review: SEC, Bitcoin Price, Hacks, and More

Silk Road 2.0 Shut Down

Exactly one year after it went live, Silk Road 2.0 was shut down by the FBI and Europol this week on November 6th. The operator of the site, Blake Benthall, was arrested the same day and has already confessed to running Silk Road 2.0. The FBI and Europol’s Operation “Onymous,” as it was called, also shut down several other dark net markets, including Cloud 9 and Hydra. Other markets such as Agora and Evolution remain unaffected for now. Interestingly (and perhaps unsurprisingly), a Silk Road 3.0 has already been launched. However, given the previous track record of centralised dark net markets, many dark net users are considering shifting towards a decentralised market like OpenBazaar. Decentralised services like the popular Popcorn Time are nearly impossible to shut down. Many have considered the “war on drugs” a cat-and-mouse game. While shutting down popular online black markets like Silk Road 2.0 is a major win for the feds, it’s safe to assume that more markets will take Silk Road’s place.

ChangeTip Goes Viral

The “Love button for the Internet” ChangeTip went viral this week. The app allows people to tip others via small bitcoin micropayments on social networks like Twitter. Sending a tip is as easy as the following:

@giulioprisco Sending you 100 bits of #bitcoin over Twitter via @ChangeTip

ChangeTip isn’t the first Internet tipping system, but it’s certainly one of the easiest and fastest, giving it a huge advantage over similar services. ChangeTip (and bitcoin in general) also has the potential to easily send small donations to people in poorer countries. For instance, a small $3.00 USD tip could easily feed a family in a third world country. The ChangeTip team has had to work hard to keep up with the growing volume of tipping via the platform. However, it’s interesting to see what developers are doing with bitcoin.

Bitcoin Price

The bitcoin price has steadily risen to ~$360 USD this week. Just last week, the price was in the $320’s. This should come as good news to bitcoin users who’ve seen a downwards trend for a while now. For more information, check out our detailed price analysis here.

Also read: Bitcoin Price Manipulation on Centralised Exchanges Seems Coordinated

GAW Miners’ Push to Bring Bitcoin Mining Mainstream

Over the last few months, GAW Miners has seen explosive growth, from the $1 million purchase of BTC.com to the launch of Hashlet. Now, GAW wants to further simplify the mining process and help bring Bitcoin and bitcoin mining mainstream with HashBase, HashCoin, and Project Prime. Just what does all that actually mean? Check out our exclusive interview with GAW Miners’ Josh Garza to find out.

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That’s it for this week. To stay up to date with the latest cryptocurrency news, be sure to follow CCN on Facebook and Twitter

Images from Shutterstock.

Last modified (UTC): November 10, 2014 03:47

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.