Mt. Gox Recovery(?)
Just three days ago, the price of Bitcoin on Mt. Gox fell below $150, due to Mt. Gox suspending all Bitcoin withdrawals. This affected the value of BTC on other exchanges as well, with it being around $550 most of the week. However, there are rumours going around that Gox is planning to resume withdrawals soon, which has caused a recent price surge.
There’s been a recent increase in malware targeting Bitcoin users. Last week, a trojan called CoinThief targeted Mac users, with one redditor losing 20 BTC ($12,654 at the time of this post). This week, an application called CryptocoinTrader targeted PC users and used screen sharing software to broadcast infected computers’ screens to a location in Russia. Malware targeting Bitcoin users is particularly dangerous since it can result in the loss of thousands of dollars worth of BTC, which is why it’s a good idea to keep most of your Bitcoins in cold storage and only a small fraction for spending on a hot wallet.
First U.S. Bitcoin ATMs
This week, the first American Bitcoin ATMs arrived in Albuquerque, Boston, Austin, and Seattle. One of our writers, Caleb Chen, sold Bitcoin to an ATM in Austin. He reported that “Selling Bitcoin to a Robocoin ATM is a much longer process than buying Bitcoin.” You can read about the entire experience here.
Dogecoin Forks Up
Six days ago, the Dogecoin blockchain forked, resulting in two competing blockchains. This is similar to the Bitcoin fork of March 11th, 2013, which could have been catastrophic, but instead resulted in little to no damage. As such, the important thing is to not panic and make sure your Dogecoin client is updated to version 1.5+. To make sure you’re on the correct blockchain, follow these steps from reddit user “42points”
Italy’s 20% Tax on All Wire Transfers
That concludes this Week in Review, where we post our top stories of the week every Sunday.
Last modified: March 23, 2014 18:48 UTC