A New Symbol for Bitcoin, The Bitcoin Facebook Virus and More…

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Japan To Hold Off On Increasing Regulations On Bitcoin

Japan’s ruling party has decided that no further regulations are needed for Bitcoin, at least for now. Japan has emerged as one of the more concerned governments in the world, following the collapse of the once all-mighty Mt. Gox, a now defunct Japanese Bitcoin exchange. The Liberal Democratic Party has apparently called for the Bitcoin community to regulate itself. Also of note, the government’s official description for Bitcoin is as a “electronic record with value.”

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Is Bitcoin Facing A “Mining Pool” Threat?

If there is one major flaw in the Bitcoin system, it’s that if a single company is able to secure a majority of the mining power, it will be able to double spend Bitcoins, which in turn would bring the system down. British company GHash, which has breached the 50 percent mark briefly before, now appears on crossing the threshold once again. Even if GHash does not double spend Bitcoins, the company’s power could delegitimize the system.

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Major Bitcoin Conference Coming To Seattle In September

A major conference will be held in Seattle on September 28th and 29th to discuss Bitcoin’s adoption by businesses, and other key pieces of information. The conference will be entitled the Bitcoin4biz Payment Summit and will likely be attended by Bitcoin leaders from across the country. CoinTelegraph will be partnering with Pioneering US to put the conference together. Smartly, the planners will be holding the conference in the days right before the Shop.org technology event, a large digital retailer conference in Seattle. Given how important Bitcoin is becoming, there’s a good chance that a lot of retailers will be swinging by for the  Bitcoin4biz conference!

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Bitcoin Mining Trojans Spreading Through Facebook

Mining Trojans have long been a Bitcoin nuisance. Compared to many viruses, a mining Trojan is somewhat benign. They won’t destroy your computer, but will instead use your computer’s processing power to mine Bitcoins. This can cause your computer to under-perform and can also run up your electricity bill. Apparently, the virus is spread through private messages, using images that users can be tricked into downloading. Once the image is downloaded, it can plant a virus. If you see a message with the image IMAG00953.zip or any other suspicious image, don’t download it! The virus program may even be able to hijack your friends’ accounts so even if it’s someone you trust, make sure you ask them before downloading anything and do a little independent research. Also, security experts warn that the Trojan may also be able to install other forms of malware.

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Bitcoin Foundation Looking To Create Currency Symbol

Ever notice how the dollar, pound, and other currencies have their own nifty little symbols? Well Bitcoin may soon be getting its own symbol! The Bitcoin Foundation is looking to create a unicode symbol for Bitcoin. Most of the symbols being floated so far involve a “B” and different vertical or horizontal overlays. This will make the currency more easy to identify and easier to trade.

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ExpressCoin Gives Coinbase a Fight, Brings first ATM to LA

Santa Monica Bitcoin and Dogecoin exchange Expresscoin has successfully launched recently. The main differentiation of Expression from Coinbase is the fact that they supply services to the “unbanked” – meaning people who are locked out from traditional financial institutions. The company has also just launched the first LA ATMs which will be located at Venice and Hollywood.

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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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