The App that will steal your Bitcoins, Paypal’s Presidents take on Bitcoin and more…

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Beware: “Bitcoin Alarm” App May Be Malware

Research analysts have discovered suspicious code in the “Bitcoin Alarm” app, which is designed to keep Bitcoin traders up to date on market activities. Analysts believe that the program could actually try to steal your hard earned Bitcoins, so for now it is probably best to avoid the program. Among other tell-tale signs, the program checks for anti-virus programs and other forms of protection. So far the developers responsible for the program have not yet replied to the accusations.
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Most Americans Still Don’t Know What Bitcoin Is

Bitcoin certainly has a strong and dedicated group of followers, however, the coin has not quite entered the mainstream. Only 42% of Americans were able to correctly identify Bitcoin in a recent telephone survey. 46% of people were unsure of what Bitcoin was, while 6% thought it was an Xbox game and another 6% thought it was an iPhone app. Still, for a digital currency that was virtually unknown only two years ago, the fact that over 40% of Americans know what the currency is might actually be a good sign.

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 Federal Regulators Order Bitcoin Mint to Shut Down

Yes, Bitcoin is a digital currency, but some people prefer having a coin they can touch and feel. Up until recently, Bitcoin users could have their Bitcoins physically minted by Mike Caldwell, who ran a business minting Bitcoins out of solid brass. While the U.S. Government has so far stayed away from shutting down, or even seriously regulating Bitcoin, regulators apparently decided that minting just went too far. Mr. Caldwell was ordered to shut down his operations, though he does plan to fight the government’s decision.

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Coinbase Secures $25 million Dollars in Funding

One of the most popular Bitcoin wallet services, Coinbase, has secured a stunning $25 million dollars in funding from Silicon Valley Venture Capital firms. Companies rarely receive so much funding from Silicon Valley, so it’s even more astounding that a Bitcoin company has received such a large amount. Coinbase has already raised some $7 million dollars. The most recent funding round was led by Andreessen Horowitz.

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PayPal President: Bitcoin is Good

Bitcoin has secured one of its biggest backers yet. David Marcus, the President of PayPal, has come on record supporting the currency. Marcus has stated that he owns Bitcoin and that the concept of a digital currency is good. He does not believe, however, that Bitcoin have evolved into a genuine currency just yet. Instead, he thinks of it as a ledger, or store of value.

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L.A. Dealership Sells Tesla Automobile for 91.4 Bitcoin

You can buy a lot of things with Bitcoins these days, but perhaps the first ever sale of a luxury sports car was just completed in L.A. An L.A. area Lamborghini dealership just sold a Tesla automobile worth $103 thousand dollars to someone who opted to pay in Bitcoin. According to the dealership, they don’t care how they got paid, as long as they do in fact get paid. The dealership has already lined up another sale of a $209 thousand dollar Lamborghini, and has received at least ten other inquires for Bitcoin denominated sales.

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Brian Booker

An international financial analyst and writer. He has consulted for the Malaysian government, various MNC's, and other organisations. He focuses on currencies, commodities, and emerging South East Asian markets.

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