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At the crux of the block-size limit debate in Bitcoin is an argument between scaling and securing the network. Although raising the block-size limit would allow more transactions to be processed in each block, it could also limit the ability for individuals in some parts of the world to run a full node or participate in the mining process. This problem would arise due to the increased costs of processing a greater number of transactions every 10 minutes as a full node. Blockstream co-founder and President Adam Back recently discussed the security vs. scalability debate on an episode of Epicenter Bitcoin, noting that increased centralization due to a raised block-size limit could be even more problematic when factoring in all […]

The post Adam Back on 3 Forms of Centralization That Have Crept Into Bitcoin appeared first on Bitcoin Magazine.

Bitcoiners got to participate firsthand in the latest CoinWallet stress test on the Bitcoin network Thursday. In a collective exercise, Bitcoiners flooded the network with thousands of transactions as they tried to access 200 free bitcoin (worth about $48,000) from free keys and addresses being released into the system by CoinWallet. In what one commentator could describe only as “[expletive] crazy”, Bitcoiners helped CoinWallet test the bitcoin network, and although there are still 84,000 transactions awaiting confirmation at the time of publishing, the network seems to be in good shape. The U.K.-based exchange saved itself a lot of work by simply counting on human nature to respond in a predictable fashion and go after the free bitcoin. And in the end, forum […]

The post CoinWallet Crowdsources Transactions for its Major Stress Test with a Bitcoin Giveaway appeared first on Bitcoin Magazine.

In February, Bitcoin Magazine reported Google’s preliminary announcement of Android Pay. In June, we reported the official announcement of Android Pay at the annual Google I/O event on May 28 and 29, where Google revealed more information on its upcoming payment platform. On Thursday, September 10, Google announced that it is beginning to roll out Android Pay. “We’ll be rolling out gradually over the next few days, and this is just the beginning,” notes the announcement. “We will continue to add even more features, banks and store locations in the coming months, making it even easier to pay with your Android phone.” Android Pay works with all NFC-enabled Android devices (running KitKat 4.4+), on any mobile carrier, at every tap […]

The post Google Launches Android Pay to Compete with Apple Pay and Boost Mobile Payments appeared first on Bitcoin Magazine.

LedgerX has received temporary approval from the US Commodities Futures Trading Commission to act as a swap execution facility.

Bitcoin price is not moving with conviction. This may be a sign of waning enthusiasm for the upside or it may be the usual doubt that accompanies a retracement low. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 15h52 UTC Bitstamp 1-Hour Chart From the analysis pages of xbt.social, earlier today: Analysis has been sparse during this period of market uncertainty. So far, price action has conformed to the expectation of the […]

The post Bitcoin Price Duality Risks Double Jeopardy appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

This is a Bitcoin Press Release: Bitcasino.io, the world's first legally licensed and regulated online Bitcoin-only casino gaming and sportsbook operator has announced today that it has integrated Booming Games, the high-end 3D slot developer’s entire content portfolio of games to its platform. Booming Games impressive mobile games offering provides the Bitcasino.io casino platform with access to 21 games, including the high-end slots, Marketplace, Ice World and Fort Knox. All games in the portfolio are compatible with mobile and tablet devices. A spokesperson for BitCasino.io said, “We are delighted to partner with Booming Games. Their slots are extremely high quality, […]

The post Bitcasino.io integrates Booming Games for bitcoin players appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The founder of MtGox - once the world's biggest bitcoin exchange - has been formally charged with embezzlement amid an investigation into millions of dollars of Bitcoin losses.

Mark Karpeles, the CEO of bitcoin exchange Mt Gox, has been charged with embezzlement, according to reports.

LedgerX, a New York-based trading platform for bitcoin options, has moved closer to becoming the first regulated exchange and clearinghouse to list and clear bitcoin options for the institutional market. The U.S. Commodity Futures Trading Commission (CFTC) has approved LedgerX’s application for a temporary registration as a swap execution facility. LedgerX plans to list and clear fully-collateralized, settled options on bitcoin. The next step for the commission is to review the application for full registration. The CFTC approved temporary registration following a comment period from Dec. 15, 2014 to Jan. 30, 2015. The comments are available on the CFTC website. […]

The post LedgerX Moves Closer To Becoming a Regulated Exchange For Bitcoin Options appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

In an emerging industry full of startups whose names contain the words "bit" and "coin," and long after many single-word .com names have already been snatched up, Bitcoin developer platform Chain.com's name stands out.

Silicon Valley's hoodied hordes are massing at Wall Street's gates. And the suits might just let them in.

The post Wall Street Officially Opens Its Arms to Bitcoin Invaders appeared first on WIRED.

Japanese prosecutors charged long embattled Mt. Gox CEO Mark Karpeles with embezzlement over the loss of hundreds of millions of dollars worth in bitcoins, according to Jiji Press News agency. The charges mark the most recent chapter in the former CEO's fall from grace. Under Japanese law, a person can be held without formal charges for three weeks.  The 30-year-old Karpeles was taken into police custody in Tokyo last month over his involvement in the disappearance of Mt. Gox funds. Authorities later re-arrested him for stealing 321 million yen (HK$20 million) worth of bitcoin from customers, giving authorities another three weeks to […]

The post Japanese Authorities Charge Mt. Gox CEO With Embezzlement appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

In a dramatic move, New Zealand banned its first book in decades on Monday. The award-winning teen novel, Into The River, won the New Zealand Post children’s book of the year in 2013 and includes portrayals of sex and bullying. Auckland-based author Ted Dawe did not see the ban coming. "It's extraordinary," Dawe told the New Zealand Herald. "I've had quite a few emails from people who share that sense of outrage. Do we live in a country where books get banned? I'll get burnt next." In the book, a Maori boy wins a scholarship to an exclusive Auckland boarding […]

The post New Zealand Book Ban First In 22 Years appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Good morning! Here's what you need to know on Friday.

1. Germany will discuss the European Union's plan to distribute 160,000 refugees among member nations with foreign ministers from the Czech Republic, Hungary, Poland, and Slovakia on Friday.

2. Japan continues to battle massive flooding in the wake of Typhoon Etau as thousands of rescuers descend on a city north of Tokyo.

3. There are reports that Russia is supplying Syria with military weapons that it says are meant to help fight terrorism. 

4. Asian shares rose on Friday following gains on Wall Street.

5. Finland is setting a noble example to help deal with Europe's refugee crisis, proposing to increase capital gains tax and income tax on high earners to help pay for an influx of refugees.

6. Venezuela's opposition leader Leopoldo Lopez was sentenced to almost 14 years in prison for inciting violence as a leader during last year's sometimes bloody antigovernment protests.

7. Scientists discovered a new species closely related to humans inside a cave in South Africa.

8. US President Barack Obama scored a major foreign policy victory on Thursday as Senate Democrats blocked Republican efforts to derail the Iran nuclear deal.

9. Japan reportedly charged the head of collapsed Bitcoin exchange MtGox, Mark Karpeles of France, with embezzlement on Friday.

10. Friday marks the 14th anniversary of the September 11 terror attacks.

And finally ...

SpaceX, the space transportation company founded by Tesla CEO Elon Musk, released new photos of the interior of its Crew Dragon capsule, which will carry astronauts to and from the International Space Station.

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Early reports indicate that the Tokyo District Public Prosecutors Office has indicted Mark Karpeles, the CEO of the collapsed bitcoin exchange Mt. Gox, with embezzlement. These formal charges follow months of allegations of fraud, which culminated in Karpele’s arrest by the Tokyo Metropolitan Police. Karpeles was arrested on August 1st but had not been formally charged until today. Liquidations proceeding for Mt. Gox are ongoing and a report detailing creditors claims of $22 billion against the company was released earlier this week. Mt. Gox filed for bankruptcy in February 2014, citing losses of over 750,000 bitcoin held on behalf of customers. According to the indictment, Karpeles is charged with embezzling over $50 million from Mt. Gox company accounts. This is a developing story and Bitcoin Magazine will continue to update it as […]

The post Breaking: Failed Bitcoin Exchange Mt. Gox CEO Mark Karpeles Indicted for Embezzlement appeared first on Bitcoin Magazine.

Japanese prosecutors have charged Mark Karpeles, founder of collapsed Bitcoin exchange Mt.Gox, with corporate embezzlement after large amounts of the digital currency went missing on his watch.