Bitcoinist Weekly News Re-Hash: BitPay Hack, California Bitcoin Bill Dies
After two weeks of sharp, last minute changes in the Bitcoin price, the markets caught a break this week, with the price remaining fairly stable throughout. Thus, it seems as if the speculators have finally settled down. This, combined with this week’s relatively slow news week, explains the sideways action that persisted throughout the week. This week started with the markets coming off the last-minute plunge in the Bitcoin price that occurred last week. Monday opened at $228.18, and returned to the $230s during the morning hours. By midday, the price had leveled out in the low $230s, a....
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The highly controversial California AB 1326, often referred to as “California’s BitLicense” has failed to pass in the Legislature. The bill, which would require Bitcoin many Bitcoin businesses operating in California to apply for a state-issued License, failed to pass before the September 11 deadline. The strict nature of the bill has led the Bitcoin community to compare it to New York’s BitLicense, which has forced many Bitcoin businesses to cut off their services to New York. The California Bitcoin bill garnered large amounts of criticism from the Bitcoin community, as well as....
Bitcoiners breathed a sigh of relief this week when the drama-fueled price decline finally came to a close. The downtrend persisted for the first two days of the week, but the price quickly rebounded and began making small — yet welcome — gains that continued for the rest of the week. This recovery in the markets coincided with the winding down of the Bitcoin XT drama, which began drawing to a close as miners rejected XT in favor of a much more modest BIP 100. Total Change: -0.33%
California repeals law, allows Bitcoin. California legislation passes a bill allowing the use of digital currencies such as Bitcoin! Saturday, Jerry Brown signed this monumental bill, lifting the previous ban on cryptocurrrencies in California. This may have also impacted Bitcoin prices, with prices know around $650, and volume transactions peaking at $50 million for 24 hours. The original law, stating that anything besides the use of US currency is prohibited was outdated, technically even making rewards points illegal. Newegg accepts Bitcoin, through partnership with Bitpay! This has....
A top post on /r/Bitcoin at the moment has quite the misleading title. The specific document linked is merely the latest revision of the bill with analysis from the State Assembly's Banking and Financial Institutions Committee and dates to 1/23/14. The post has caused many to mistakenly believe that either the bill has become a law or the bill has been passed and is awaiting signing to become a law. Both of which are quite untrue and reveal ignorance of political processes. While I understand that Reddit is a worldwide community without general understanding of the American legislative....
The 39th Governor of California Jerry Brown has officially signed Assembly Bill 129, the measure that sought to grant bitcoin and other digital currencies 'legal money' status, into law, Reuters reports. The news comes just weeks after the approval of the final amended version of the bill earlier this month through key votes in both the California Assembly and Senate. AB-129, which first received approval in the California Assembly earlier this February, sought to update a California law under which alternative forms of value such as rewards points, coupons and digital currencies were....