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Was Mt.Gox just one big automated scam, the Bitcoin symbol up for sale and more…

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Bitcoin Trademark for Sale for 580,000 Pounds

Sometime ago the heads at Mt. Gox decided to trademark the term “Bitcoin.” When they did so they were looking to protect against opportunists who might try to trademark the term just to make money. Unfortunately, the plan appears to have backfired. With Mt. Gox going through bankruptcy, the company overseeing the proceedings is now looking to sell the trademark, and they seem to think it is worth a lot of money. Indeed, the trademark could be very valuable and if bought by the wrong party, the implications could be huge for the Bitcoin community.

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Report Claims that a “Bot” Manipulating Bitcoin Prices on Mt. Gox

Mt. Gox may have gone under, but that hasn’t stopped people from examining the former exchange very closely. The so-called “Willy Report” claims that a “bot”, or automated software program, was actually behind Bitcoin’s massive rise in price. The report also speculates that the creator of the bot may have also been behind the recent theft of Bitcoins on Mt. Gox. Apparently, the Bot may have facilitating the purchase of over $100 million dollars worth of Bitcoins, sending prices sky high last fall. So far the report has not been verified by outside parties, but is sure to become a point of controversy.

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“Bitcoin Jesus” Offers Bounty On Extortionists

Not long ago Memory Dealers CEO Roger Ver, AKA Bitcoin Jesus, found himself facing a sort of dilemma. Some hackers had broken into an old email account and found some social security account information and other data.  The hackers then communicated Mr. Ver and demanded a ransom of $20,000 dollars, a considerable sum. Mr. Ver, however, flipped the tables and put a “bounty” on the hackers with a reward for information leading to their arrest. The hackers quickly tried to calm Mr. Ver down but it was too late.

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Bitcoin Mining Bot Hits Thousands of Gamers

In order to mine Bitcoins, you need computing power. One way to get a lot of computing power is to network together a large number of computers and have them all work together to mine Bitcoins. This is how many Bitcoin mining pools work. Hackers, however, have been trying to infiltrate computers and to steal their computing power to mine Bitcoins. Apparently a hacker was able to scam computer users who themselves stole an early leaked copy of the game “Watch Dogs” by inserting a bot into the software. Well, I guess what goes around comes around, doesn’t it?

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European Central Bank Leader Takes a Swing at Bitcoin

Yves Mersch, who sits on the board of the European Central Bank, has slammed Bitcoin. Specifically, the board member cited wild swings in exchange rates as one of the principal reasons Bitcoin cannot succeed. The rash of thefts and hacker attacks were also cited as a reason why Bitcoin would fail. Meanwhile, the Bitcoin community remains small and only a few business accept the currency. Of course, Bitcoin members have heard all of these criticism before and have shrugged them off.

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Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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