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Coinbase users once again have a bitcoin wallet available on the Apple App Store, following the computing giant’s relaxation of rules over the inclusion of digital currencies on the platform.Surprisingly, though, the app was not developed by Coinbase, but is the work of Andrew Vilcsak – an AirBnB developer and bitcoin enthusiast.However, Coinbase has given Vilcsak’s app the thumbs up in a tweet:.Great to see this community contributed app! We reached out to the dev to review the code and believe it is secure. https://t.co/hPZVSr7GOI— Coinbase (@coinbase) June 20, 2014Coinbase appNo bells and whistlesVilcsak’s open-source app is based on the Coinbase API and, the developer says, supports “all major operations”, such as sending and receiving bitcoin, recording transaction history, balance and more.No fancy features have been included, but many users will be happy to at last have a wallet app on their Apple device that will sync with their CoinBase account.The app requires iOS 6.1 or later and it is compatible with iPhone, iPad and iPod Touch devices. It is optimised for the iPhone 5, meaning it was not optimised for phones with 4:3 aspect ratio screens.The app has received mixed reviews and its legitimacy has been questioned by some in the community, but the tweeted endorsement from Coinbase should go a long way toward addressing these concerns.No word on official app yetIt remains unclear whether or not Coinbase is planning on releasing an official iOS wallet.Since Apple eased its restrictions on bitcoin-related apps earlier this month, a number of wallet apps for iOS have appeared, but big names like Coinbase and Blockchain have been conspicuously absent.However, since small developers don’t have to jump through nearly as many hoops as big players, the delay is perhaps not surprising and official products are likely at some point in the future.appsCoinbaseiOSiOS wallet
Original author: Nermin Hajdarbegovic

distributedbtc
Ghash.io, one of the largest pools of individual bitcoin miners on the network, continues to cause headaches for bitcoin supporters who believe the mining process should remain decentralized and free of control from any single influencer.To date, Ghash.io has twice come dangerously close to obtaining 51% of the bitcoin network’s hashing power. The popular pool was able to gain 42% of the network in January, and, just last week, the pool reached a worrying 50%.In theory, obtaining a majority of network power could potentially enable massive double spending and the ability to prevent transaction confirmations, among other potentially nefarious acts.However, despite widespread concern about the vulnerability of the bitcoin network to large mining pools, there remains no easy solution to the issue.Putting aside the ideological quandaries posed by the issue, many individual miners believe bigger pools can provide them with the best financial rewards – an important consideration given the substantial investment in power and computing equipment the process can require.Rewards remain the primary reason pools are important. With the increasing difficulty of any one miner actually mining a block of bitcoin and vast competition, given the expanding number of individual miners, a miner attempting to go it alone risks never being able to solve a single block in today’s mining market.Still, Ghash.io has succeeded at moving the issue of this perceived vulnerability in the bitcoin network to the forefront of the conversation, and solutions are emerging from the debate that could potentially reduce the power of mining pools on the bitcoin network.The Ghash incentiveFurther to support from individual bitcoin miners, industry observers also recognize that mining pools have become a force in the ecosystem due to practical considerations inherent in the mining process.Dave Hudson, chip architect with mining technology company PeerNova, told CoinDesk that he understands the comfort large bitcoin mining pools can provide miners in the form of steady payouts and rewards that come in equal and predictable amounts.Hudson explained:“Smaller pools have more volatility. That means there may be a higher payout sometimes, but also there are chances it could be lower. Mining on a tight margin, you want the lowest volatility out there.”Miners are looking for solid return on investment, and Ghash.io further entices by not charging any fees for participating. Thus, miners are ability to obtain monetary benefit with little risk or additional cost.Mystery pools Despite Ghash.io’s size, little is known about the company, aside from its relationship with CEX.IO – a trading exchange that uses the Ghash.io pool for cloud mining as well as gigahash trading.So far, Ghash.io has argued against quick fixes to the problem, instead focusing the conversation on the larger issue that mining pools, by their very nature, are growing.Now, given its involvement and the negative perception around Ghash.io, CEX.IO has entered the conversation, publicly voicing its stance on the issue of the 51% issue.Should Ghash.io, become smaller, CEX.IO reasons, miners may simply form another equally large pool, thereby simply creating the same problem elsewhere.CEX.IO Chief Information Officer Jeffery Smith said in a recent blog post that while the decision by large industrial miner BitFury to move to another pool in light of the issue is helpful, it’s only a stopgap solution for the time being:“[It] does not address the core issue, only pushing the problem a few weeks or months down the road when another pool or perhaps Ghash.io again grows towards 51%.”It’s also unknown how problematic this shift could be given that the size of many mining pools is unknown.For instance, the ‘unknown’ pool normally seen in network charts that currently has 26% of total hashing power. Source: Blockchain.infoSource: Blockchain.infoSome observers think that ‘unknown’ is a collection of private pools, while others see it as one single entity – it’s a murky subject that has caused much discussion as to who or what it represents.Mining pool operators, while trying their best to stay out of the limelight, do still have to utilize the block chain, however, meaning work could be done to shed more light on this part of the industry. Further, major names in the bitcoin space are advocating for such community action.Help us improve @blockchain’s mining pool identification by submitting known tags or mining addresses via PR here: https://t.co/IasBYaUF4G— AndreasMAntonopoulos (@aantonop) June 19, 2014Hudson, the PeerNova chip designer, says that while Ghash.io and the ‘unknown’ pool are concerns, they could theoretically be tracked down with some effort:“Pool operators may be secretive for the most part, but the block chain will always be there.”Influence of industrial minesTogether with the rise of large mining pools, bitcoin has also seen the consolidation of mining equipment into large industrial mines, some of which – like MegaBigPower in the US – have been estimated to churn out $8m a month in bitcoin at peak prices.ASIC mining designer BitFury is one such industrial mine that is able to exert control over mining market. It also notably provides equipment to other industrial mines, including MegaBigPower.Niko Punin, Head of Product Development for BitFury, told CoinDesk that the company’s chips power around 40% of miners today. It’s notable that BitFury has become vocal and proactive about the issue of possible 51% attacks, given its ability to potential to take the lead on any potential solution.Speaking to CoinDesk, Punin reiterated his company’s stance that Ghash.io, while lucrative for miners because of less margins as a result of no fees, still needs to have a smaller share of network power:“We’re working on it to lower [Ghash.io’s share] by moving to our own pool.”In fact, removing its 1PH/s of power from the pool has helped to bring Ghash.io’s share of the network down to just over 30%. Source: Blockchain.infoSource: Blockchain.infoFurthermore, BitFury itself is also in the process of making its influence better known to the larger bitcoin community, following the $20m it recently raised in funding.The investment will help BitFury to build out its operations and, many hope, continue to be an influential check to the balance of power among the larger pools like Ghash.io.The 51% debateFor now, though, there remains a heated debate around whether there should be cause for concern, should one mining pool grow to comprise more than 50% of the bitcoin network.Hudson has been studying the current state of bitcoin mining as part of his work at PeerNova, the mining conglomerate that formed as a result of a merger between hosted miner service CloudHashing and hardware designer HighBitcoin.Hudson believes, along with thought leaders in the industry such as Andreas Antonopoulos, that possessing 51% of network power is not enough to enable an all-out attack.Hudson said:“There’s this whole question: What can you actually really do if you hold that much of the network capacity?”In theory, one might be able to affect the next block or two, launching a double-spending attack by holding on to enough power to confirm the majority of transactions. However, this would take a huge amount of expense and effort and, should a big double spend be attempted, the data would likely appear on the block chain for all to see.Worse, such an attack could possibly destroy the integrity of the system as a whole, causing the price to crash. This is not something anyone with a vested interest in bitcoin would want – especially miners, whose profits depend largely on the price of bitcoin being high. Hence, there is no real incentive to attack the network.Furthermore, as Antonopoulos points out, should a pool try to mount such an attack, bitcoin’s core code could be changed to destroy that company’s business. It just wouldn’t be worth the risk on several levels.Distributed poolsHowever, the larger philosophical debates are now yielding to real action on a grassroots level.Bitcoin Foundation chief scientist Gavin Andresen recently advocated on the non-profit’s official blog for miners to use more decentralized practices in order to prevent any sort of pool majority from theoretically taking over the network.In a post titled ‘Centralized Mining’, Andresen wrote:“If you are mining with Ghash.io I would strongly urge you to try one of the smaller pools, or, even better, take the time to run bitcoind and p2pool.”P2Pool is decentralized mining pool software, that, working in combination with the bitcoin client and mining hardware, will complete proof-of-work through bitcoin nodes.This is similar to the way bitcoin itself is designed to confirm transactions through nodes on its network. Bitcoin node distribution. P2Pool could facilitate the same with pools. Source: Bitnodes.ioBitcoin node distribution. P2Pool could facilitate the same with pools. Source: Bitnodes.ioThe P2Pool software is free and while it requires a bit more work to configure than just using a pool, it is a better network protection method over mining with Ghash.io.P2Pool is also competitive from a cost perspective, as it only has a 1% optional fee for development purposes, while potentially appealing to bitcoin purists who favor decentralization.Emerging alternativesP2Pool, or any decentralized pool solution for bitcoin mining, though, is only as good as the number of people who are using it. This means that until miners flock to them, they will have the same amount of volatility as small pools currently do.It’s up to the miners to decide: More centralization with large pools, or less with smaller or distributed ones?In the end, options are open. If the mining community wants to keep the network distributed, that’s a choice made for the future of bitcoin’s decentralization, the foundation many argue it was originally built upon.Travis Skweres, co-founder of the CoinMKT crytpocurrency exchange, agrees that the Ghash.io issue is a long-term problem that needs a solution:“Though I doubt GHash has bad intentions, philosophically it’s bad to see 51% reached so easily as, in the future, a group with strong mining hardware could put bitcoin at risk.”It’s no wonder, then, that Skweres’ exchange is trying to manage bitcoin’s vulnerabilities. With CoinMKT also offering a wide choice of altcoin trading pairs, the startup is hedging risk against bitcoin’s potential problems down the line as a result of centralized mining.Skweres added:“This again affirms why I’m coin agnostic, as I like seeing coins that try to democratize mining.”Distributed bitcoin image via ShutterstockBitfurydecentralizationGhash.iominingMining PoolsnodesP2Pool
Original author: Daniel Cawrey

russia
Russian financial authorities appear to be close to clarifying their stance on bitcoin with the announcement of a forthcoming paper to by published by the country’s Financial Action Task Force (FATF).Rossiyskaya Gazeta, a Russian-language news source, is reporting that the paper will mark the conclusion of research conducted by anti-money laundering (AML) and terrorist financing officials at the FATF and other agencies within Russia and around the world, including the US and UK.The FATF paper is being spearheaded by the International Training and Methodology Center of Financial Monitoring, a division within Russia’s chief financial regulator, the Federal Financial Monitoring Service of the Russian Federation, or Rosfinmonitoring.The media outlet said that project manager Eugene Volovik spoke about the initiative during a meeting of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) in Moscow. There, he explained the current climate and the need for tighter controls within Russia on what he called unchecked digital currency movement.Volovik also acknowledged the transformative role that digital currencies may very well play long term, saying:“Just as e-mail today has replaced the usual post offices and telegraph came to replace SMS and popular services such as Skype or Whyber [...] radical changes [could] begin with virtual currency.”Paper to focus on money launderingVolovik stated that the paper will outline the challenges digital currencies pose to domestic AML and terrorist financing personnel, and he added that such an effort is important for the potential of digital currencies to be fully employed.By targeting the illicit uses of bitcoin technology, government regulators can support the development of a more mature digital currency ecosystem.However, Volovik reiterated that despite these promises, Russian regulators remain committed to preventing digital currencies from being used to support criminal acts, which he said remains an outsized problem.Russia undecided on bitcoinBitcoin has had a thus-far complicated history in Russia, owing to rumors that national financial authorities had initially banned the digital currency.However, a later release from the Bank of Russia suggested that the bank was more focused on keeping bitcoin technology from supporting terrorist and criminal financing rather than simply outlawing it entirely.According to Volovik, Russia belongs to a large group of countries that remain divided on bitcoin. Still, he added that an outright ban has not technically been put in place, as discussions are still ongoing about the future of digital currencies in Russia.Notably, Rossiyskaya Gazeta followed up with an official from Rosfinmonitoring, who said that according to the country’s constitution, bitcoin is not a legal form of money.Red Square via ShutterstockEuroperegulationRussia
Original author: Stan Higgins

dogecoin
New details have emerged regarding the illicit mining of roughly half a billion dogecoins in the winter and early spring of 2014, which mainly targeted unsuspecting homeowners and may have affected thousands of customers of Taiwan-based manufacturer Synology.Earlier this week it came to light that an as-yet unidentified hacker or hackers gained administrator access to network attached storage (NAS) servers sold by Synology. This resulted in the creation of roughly 500 million dogecoins over a several month-long period, with activity peaking in February.The malware attempt first came to the company’s attention in September, prompting a quick response and the development of a software fix within four days of initial discovery. A follow-up fix was announced in February. However, some customers failed to update their NAS servers. As a result, those involved with the hack were able to exploit security vulnerabilities and create a botnet that mined bitcoin and dogecoin.Many of the customers involved were homeowners who largely remained unaware of the problem until it had already been addressed by Synology. Thadd Weil, public relations specialist for Synology America Corp., told CoinDesk that the event was the first time that a digital currency-focused cyber attack successfully impacted their customers.However, he said that attempts to do so have happened before and are likely to take place again, stating:“We’ve become a target, because we’re one of the names in network attached storage. As such, nefarious people have been aiming their guns at us since the end of last year, most particularly. We’ve been releasing operating system updates frequently [as a result].”Initial response led to quick bug fixWeil explained that in mid-September, the company’s security response teams were alerted to fraudulent activity taking place. He added that the discovery was part of Synology’s routine scanning activities. Within four days of discovering the malicious files embedded in the NAS servers – contained in folders entitled “PWNED” – Synology was able to generate a patch that nullified the effects of the software.The company later released another update, announced in a February press statement, that outlined the problems and identified the malicious data involved. This response was published after some users took to social media platforms to alert Synology about sluggish performance of their NAS boxes and unusually high CPU usage.Update protocol flawsHowever, the vulnerability remained unaddressed for most users because the fix was not announced on a broad enough scale. Weil acknowledged that the company could have done a better job communicating with customers who may have been at risk, explaining:“We didn’t do a good enough job letting [our customers] know why they needed to update their operating system.”Weil continued by saying that prior to the incident, Synology did not directly upgrade the NAS server software. As a result, some customers never addressed the security flaw, which enabled those behind the hack to repurpose the NAS servers for bitcoin and dogecoin mining.Synology now issues automatic upgrades to its customers as a result of the patch protocol flaw.Weil added that Synology has been keeping track of the issue since mining activity on its hardware spiked, with the most recent update coming out this week.Unsuspecting targetsAnother part of the problem was that the most common targets in this case were homeowners who don’t nearly use the bandwidth capacities of their NAS servers. Because of this, many customers weren’t even aware of the problem unless they were using significant processing power.The choice of targeting Synology’s products mirrors attacks on mobile devices and with the intention of creating a botnet. By pooling the resources of many small devices, a hacker or hackers can generate enough hashing power to successfully mine digital currency, whether its bitcoin or dogecoin.As in those cases, the NAS servers don’t generate much computing power – “it’s kind of like assigning a calculator to do 3D rendering,” as Weil explained – but, on a broad scale, are capable of significant hashing power when used for mining.Weil was unable to provide a specific number on the amount of customers that were affected, but he speculated that it must have been “in the thousands”.dogecoinmining malwareSynology
Original author: Stan Higgins

London properties
Since the bitcoin price rose sharply last year, the sale of properties for the digital currency has become, if not commonplace, definitely a growing trend – albeit for more luxury properties.Now, a new company is entering the cryptocurrency housing sector.Offering international investors the chance to buy UK properties with an extensive range of digital currencies, including bitcoin, Cai-Capital claims to be the first UK firm providing this facility.Targeting markets such as China, Russia and the Middle East, the Cheltenham-based company, which works in partnership with estate agent Hill-Mathieson & Partners, hopes that cryptocurrency payments will draw in new customers for the company’s sales, letting and property management services.Cai-Capital has been actively following the development of digital currency, so director Keith Stukins says the move is a natural progression for the company. He explained:“The list of companies accepting digital currency transactions continues to grow daily and is increasingly becoming a more popular way of conducting business. In this arena, Cai-Capital leads the way in the UK Property sector.”Going digitalBy introducing digital currency payments, clients will have opportunities to purchase property without the uncertainty of swings within the exchange rates found in normal money markets, the company director said.Furthermore, this method enables greater flexibility than typical banking exchanges and transfers, although any prospective clients will still need to be wary of local laws and compliance issues.Unusually for a mainstream business, Cai-Capital is accepting most major digital currencies, with more being added on a weekly basis.At present, said Stukins, the company can facilitate the exchange of bitcoin, litecoin, ripple, maxcoin and quark, among others. The exception, he said, is currencies that are new to the market and have little or no market volume.Security proceduresTaking on board security concerns clients may have regarding trading in digital currency, especially following the media fanfare of Mt. Gox‘s downfall, Cai-Capital applies a “risk-adverse process” to ensure funds remain safe once they arrive with the company.On receipt of a transfer, Stukins indicated, Cai-Capital moves the funds into private paper wallets that are stored securely. Then, to ensure exposure of loss is kept to a minimum, transfer amounts are agreed with the client as the funds are moved between the private paper wallets and Cai-Capital’s cryptocurrency broker partner Acquire CC.All paper wallets adhere to a proprietary multi-signature process to reinforce security and the client’s money is deposited directly into his or her lawyer’s account prior to the exchange of contracts or purchase completion.The funds remain within the clients lawyer account until disbursements are required. The process is similar to any other property purchase if not simpler, Stukins said.China targetedOne further advantage – for the cryptocurrency community this time – is that, as property deals often involve large amounts of funds, using a partner such as Acquire CC helps execute such deals without triggering a market price movement.This is achieved by spreading the transactions in multiple instances across various markets simultaneously, Stukins explained.When asked how much business has so far been conducted in digital currency, he said, “interest continues to grow, which has resulted in a bitcoin transaction in the region of £1m being completed with a further transaction being in the latter stages of the process”.Furthermore, the company’s recent business trip to Hong Kong received significant interest and media attention, said Stukins:“We envisage a high level of enquiries to be forthcoming, particularly from mainland China.”Bitcoin in the property marketWhile Cai-Capital may be the first firm offering cryptocurrency-financed property sales and rentals in the UK, other companies have already started offering similar services worldwide.In January, Manhattan-based real estate brokerage firm Bond New York announced it would be accepting bitcoin as payment for property transactions. In the same month, Canada-based Quantum Properties began accepting bitcoin deposits for properties it sells locally.Rental services are also catered for, in the US at least. Startup Rentalutions, an online platform that helps landlords manage leased properties, started accepting bitcoin for rent last August.Furthermore, a number of individual owners have made their properties available for bitcoin.In December, former casino owner Jack Sommer offered his luxurious Las Vegas mansion for $7.85m or the equivalent in bitcoin, and in March a $500,000 Bali villa sold in what may have been the biggest bitcoin purchase on record.On a similar note, Canadian Kevin Kelly is holding a ‘competition’ called CryptoCondo, in which he is selling tickets for bitcoin with the random winner to take over ownership of his luxury apartment in Toronto.Homeless outreach Sean’s Outpost is helping adjudicate the draw, which is effectively a kind of crowdsale, and will take 5% or more of the final winnings, which are hoped to be in excess of $520,000.London houses images via Shutterstockaltcoinsestate agentsmerchantspricespropertyreal estateUK
Original author: Dan Palmer

auction
The US Marshals Service (USMS), the federal agency charged with carrying out the auction of 30,000 BTC seized by the FBI in the shutdown of online black marketplace Silk Road, inadvertently gave bitcoin industry observers a first look at some potential bidders for the bounty yesterday in a move that has since been widely lampooned by the media.This unintentional error occurred when the agency accidentally revealed a lengthy list of names of those who had expressed interest in the auction process during an attempt to provide an informational update to these parties.Though that list contained some prospective bidders, heavyweights in bitcoin’s burgeoning investment sector are now stepping forth as confirmed bidders that may prove more influential to the ultimate outcome of the auction.Barry Silbert’s alternative investment marketplace SecondMarket and private investment vehicle Bitcoin Investment Trust, investment management firm and BitFury investor Binary Financial and bitcoin investment fund operator Pantera Capital have all indicated to CoinDesk that they will be participating in the upcoming auction, to be held on 27th June from 06:00 to 18:00 (EDT).Speaking to CoinDesk, Binary Financial managing partner Harry Yeh explained the importance of his firm’s participation in the event, noting how it will provide what may be the first big stage on which the bitcoin investment community can showcase its purchasing power.Yeh said:“It’s just one of those big plays that you have to be involved with if you’re a big player. [...] It’s very rare that you have the opportunity to source such a large block of coins.”The highly publicized auction is also generating increased interest from first-time investors, the firms say.Yeh noted that bitcoins that passed through the US government could prove advantageous to own in the event of an audit, and that they may end up selling for 10%-20% below market value under certain conditions.SecondMarket builds auction syndicateBitcoin Investment Trust shares now available on SecondMarketSecondMarket and the Bitcoin Investment Trust, the investment initiatives led by CEO Barry Silbert, are among the firms that have been more vocal about their participation in the upcoming auction, publishing a call for interested investors to join their bidding process.Register here to receive info about how to participate in our bidding syndicate for US Marshals bitcoin auction: http://t.co/CexnsYrt7c— Barry Silbert (@barrysilbert) June 17, 2014Silbert indicated that their strategy for the auction will be to open up the participant pool to those who may have been dissuaded or barred by requirements set for by the USMS.He stated:“Our syndicate will open up bidding to a much larger field of smaller purchasers, foreign buyers and bidders who don’t want their identity revealed to the US government.”For example, Silbert noted that to participate, bidders need a US bank account account, which bars foreign investors. Further, bidders will need to make their identity known to the US government, though his comments suggest that members of SecondMarket’s syndicate will not need to abide by such restrictions.Silbert also suggested uncertainty regarding the government’s auction process could also provide powerful leverage for investors to join the syndicate.He added that it is not yet known what the government may ultimately release regarding the auction results, meaning the names of the coins’ owners could be publicized or otherwise disseminated.Binary casts all-in bidbinary financialThough it has operated mostly out of the spotlight since its inception, Binary Financial is organized as a private, multi-strategy hedge fund that invests in industrial mining, trades bitcoins and provides arbitrage services.Yeh told CoinDesk that Binary intends to bid on all nine of the Silk Road auction blocks, and that the majority of its capital sourcing for the auction is nearly complete.Aside from prestige that could come from participating in the event, he said that buying bitcoins directly from the US government has a number of practical advantages over obtaining the assets on the open market. He went on to discuss how buyers using an exchange to buy 3,000 BTC would pay a premium for the coins, as the act of buying the coins would force the price to rise as the order is being filled.Still, he cautioned that average investors could feel the movements of the auction, and that they, too, should be prepared accordingly, saying:“We expect on the day for there to be increase volume of trading and heavy selling pressure.”Pantera’s stealth bidScreen Shot 2014-06-19 at 5.38.47 PMThe participation of Pantera Capital is also notable given that the investment fund was created by influential backers Fortress Investment Group, Benchmark Capital and Ribbit Capital, and was at one time suggested to have had $147m in assets.Dan Morehead, founder and CEO of Pantera Capital, did not provide many details about Pantera’s bidding strategy, citing the need to protect its competitive interests. However, he did confirm that Pantera has seen an uptick in interest from investors due to the upcoming Silk Road auction.Morehead said:“We’ve seen a lot of new investors come to us to talk about the auction, so I think it’s good for the community.”Morehead also stated that Pantera is seeking to invest its own proprietary capital, along with funds from its investors, as part of the upcoming auction.Fierce competitionOf course, the firms will likely face fierce competition from each other and other as-yet unknown bidders given the auction process designed by the USMS. The 29,657 BTC, now located in this wallet, are to be divided up into nine blocks, including eight blocks of 3,000 BTC and one block of 2,656.51306529 BTC.Though this process could theoretically create multiple winners, this may be unlikely given the terms of how bids on multiple blocks will be governed.For example, the USMS has stated that those who bid on multiple blocks could be awarded any number of blocks up to the maximum number. This means should a buyer move to purchase all of the coins, it could be awarded multiple blocks up to the overall total.For more on the Silk Road auction process and its related rules, read our full report.Auction image via Shutterstockgovernment auctioninvestorsPantera CapitalSecondMarketUSA
Original author: Pete Rizzo

bolivia
El Banco Central de Bolivia, the central bank of the South American nation, has officially banned any currency or coins not issued or regulated by the government, including bitcoin and a list of other cryptocurrencies including namecoin, peercoin, Quark, primecoin and feathercoin.The official policy, launched on 6th May, has recently surfaced to garner coverage from Spanish-language news source PanAm Post, and is the first announcement by the country’s central bank on the subject of digital currency according to research from the US Law Library of Congress.A translation of the central bank statement reads:“It is illegal to use any kind of currency that is not issued and controlled by a government or an authorized entity.”The bank went on to say that citizens are prohibited from denominating prices in any currency that is not previously approved by its national institutions.Such a ban, the document states, is necessary to protect the boliviano, the country’s national currency, and to safeguard users from the kind of uncontrolled currencies that can lead to the users losing their money.The decision to fully ban bitcoin puts Bolivia in unique standing in the international community, as other nations previously believed to be embracing restrictive policies – including China, Thailand and Russia – have since backed away from implementing similar measures.Bolivia stands aloneBolivia’s announcement is also unique within the context of decisions made by its South American neighbors. For example, earlier this March, a report suggested that The Superintendencia Financiera de Colombia (SFC), Colombia’s central bank, may have been seeking to implement a bitcoin ban.However, despite worries from the local community, such fears did not come to pass. Colombia stopped short of the expected announcement, choosing instead to bar banks from working with digital currency companies.Elsewhere in South America, central banks in Argentina and Brazil are permissive to digital currencies, according to analysis from BitLegal.South America reactsNotable members of South America’s bitcoin community had varying reactions to the news.Christian Nubis, chief product officer at recently launched Latin American exchange Bitex.la, suggested that the move would not have a substantial impact, as “Bolivia is not a leader in the region on matters of public policy”.However, others such as Sebastian Serrano, CEO of Argentina bitcoin merchant processor BitPagos, lamented the fact that such an announcement will do little to encourage the local startup community and prohibit bitcoin from helping those in the country who could benefit from economic freedom.Serrano said:“The news from Bolivia is very sad, especially considering it is one of the poorest countries in Latin America.”He added: “Hopefully, Bolivia will revert its decision in the future as bitcoin continues to prosper in the rest of the world.”Translations provided by Randy Brito. Image via WikipediaBitex.laBitPagosBoliviacentral bankSouth America
Original author: Pete Rizzo

gyft for ios
Digital gift card provider Gyft updated its iOS app today, adding the bitcoin payments option that was previously exclusive to its Android customers.Gyft launched last year, supporting retailing majors like Whole Foods, Starbucks, Groupon, GAP and Nike. Users who choose to pay in bitcoin receive 3% back on their purchases, which is added into a points system, earning them discounts for future purchases.The news comes shortly after reports of Apple’s revised stance on apps that “facilitate transmission of approved virtual currencies”. The tech giant angered its iPhone users in February by removing the Coinbase and Blockchain apps from the iOS app store.Earlier this month, it issued a statement saying that such apps may now run so long as they “do so in compliance with all state and federal laws for the territories in which the app functions”.“Our users are ecstatic about it,” said Gyft’s chief executive Vinny Lingham. “The moment we heard the rules were being relaxed we wanted to get it up and running as soon as possible.”Citing DISH Network and Expedia as recent adopters of the digital currency, he said:“It’s becoming a respected system of payment … It’s coming out of the fringe and hitting more of the mainstream.”Lingham and his clients are not alone. Blockchain CEO Nic Cary revealed on Twitter yesterday that his company’s wallet app would soon return to the iOS store.Reddit asks. Reddit gets. #sneakpeak #bitcoin iOS @apple coming soon pic.twitter.com/pmdlO4KAyb— Nic Cary (@niccary) June 18, 2014He told CoinDesk: “We were very encouraged by Apple’s recent policy adjustment and immediately dusted off our original app. Ever since January we’ve been hoping Apple would change it’s stance and it seems like they’ve finally listened to their users … Finally, millions of bitcoin enthusiasts will get to experience bitcoin on their iPhones.”Last week, a new bitcoin wallet app appeared for download in the iOS App Store. The Coinpocket app has a number of basic features, but also enables users to generate a BIP38 encrypted version of their private key.Gyft CEO Vinny Lingham will be speaking at CoinSummit in London on July 10-11.Image via GyftAppleBlockchainGyftiOSpayments
Original author: Tanaya Macheel
  1. Gallery: Italian Lawmakers Meet with Bitcoin Believers in Fact-Finding Session
  2. Japan Decides Against Bitcoin Regulation, For Now
  3. Why TV Giant DISH Took a Chance on Bitcoin Payments
  4. List of Possible Silk Road Bitcoin Bidders Allegedly Leaked by US Marshals

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