Category Archives: News
Top Bitcoin News Last Week: Liberty Reserve, Seattle Mayor, Mt. Gox, and More
Bitcoin News
A roundup of the top Bitcoin news from May 27 to June 1:
Monday, May 27
Wednesday, May 29
Thursday, May 30
Friday, May 31
Saturday, June 1
Bitcoin Now Accepted at VectorToons Art Marketplace via BitPay
VectorToons will use BitPay to Accept Bitcoin
VectorToons.com, a royalty-free PDF vector illustrations website, announced that the website will now accept Bitcoin as a payment method.
“Our company was among the first to accept Paypal when they were a startup,” said owner and founder of Yourbrain Media Inc. Brad Gosse. “Bitcoin is a secure, legitimate currency being used in high volumes online. Since many of our customers are early adopters, we need to be as well.”
The website will use BitPay, an electronic payment processing system for the Bitcoin currency, to calculate the current U.S. dollar to Bitcoin exchange rate. It will then give the customer a payment address upon checkout.
“If you already have a Bitcoin wallet, it’s extremely easy,” said Gosse. In addition to Bitcoin, the website also accepts Paypal and credit cards.
The VectorToons.com website allows people to buy only the graphics that they want without a subscription or the purchasing of credits. The clip art, available as a high-quality PDF download, is royalty-free and can be used in an array of projects, from websites and videos, to sales letters and in print advertising. The PDF format allows easy conversion to other popular formats like PNG, JPEG and GIF.
“I created the site mainly because I find it hard to find good vector art at reasonable prices,” said Gosse. “I have had my own full -time cartoonists on staff for a long time and decided to open my exclusive catalog to other designers. A dollar for vector art is unheard of in the design world, so I figured let’s make it affordable for everyone.”
Currently, the site has over 1000 images to choose from, but Gosse says more will be added daily. The site features artwork of people, animals, icons, food items, holiday-related graphics and other objects. The website allows you to browse by category or search by keywords.
Using vector graphics in your sales letters, products, books and advertising helps to improve your message and can increase sales says Gosse.
“Since hiring my own cartoonists over a year ago, my sales copy conversions have more than doubled,” said Gosse.
Mt. Gox Forces Users to Verify Accounts After Government Crackdown
Mt. Gox Changes the Rules
Part of the excitement about Bitcoin is the enabling of anonymous transactions. But this capability also has caused some concerns amidst government crackdown on other anonymous exchanges, namely Liberty Reserve that has been accused of massive money laundering.
So Mt. Gox is Changing the rules. Going forward, all users must have verified accounts. Here’s the announcement.
Statement Regarding Account Verifications
The Bitcoin market continues to evolve, as do regulations and conditions of compliance for Mt. Gox to continue bringing secure services to our customers. It our responsibility to provide a trusted and legal exchange, and that includes making sure that we are operating within strict anti-money laundering rules and preventing other malicious activity.
As a result, beginning May 30th, 2013 all Mt. Gox user accounts are required to be verified in order to perform any currency deposits and withdrawals. Bitcoin deposits do not need verification, and at this time we are not requiring verification for Bitcoin withdrawals.
In the past two months Mt. Gox has invested in more than doubling our verification support staff, and we are currently able to process most verifications within 24~48 hours.
We apologize for any inconvenience this may cause. Please visit the Security Center in your Mt. Gox account if you are not already verified, and keep in mind that being careful to submit the proper documents will result in a much faster processing time.
Regards
Mt.Gox Co. Ltd Team.
Seattle Mayor Mike McGinn Calls for Innovation Leadership with Mention to Bitcoin
Seattle Mayor Gives Special Mention to Bitcoin at Packed Event
At a a re-election fundraiser breakfast, Seattle Mayor Mike McGinn said to a packed crowd “We can lead here in Seattle!” The diverse crowd cheered as Mayor McGinn discussed his open-minded approach to meet with any and all groups who are interested in making Seattle a better place.
He shared his vision of a future-oriented and forward-looking Seattle where technology and innovation, social issues, and environmental policies go hand in hand.
“I am always meeting with new groups,” Mayor McGinn said. “I was even approached by a group interested in Bitcoin.”
What can Bitcoin do for Seattle? Share your thoughts with us #bitcoin #seattle.
Liberty Reserve Shut Down; What Will Happen to Bitcoin?
Liberty Reserve Shutdown; What About Bitcoin?
Online currency exchange Liberty Reserve was shut down after allegations of laundering $6 billion. The New York Times reported:
The currency exchange, Liberty Reserve, operated beyond the traditional confines of United States and international banking regulations in what prosecutors called a shadowy netherworld of cyberfinance. It traded in virtual currency and provided the kind of anonymous and easily accessible banking infrastructure increasingly sought by criminal networks, law enforcement officials said.
So, what is the impact on Bitcoin? Is Bitcoin next, some media outlets pondered. Well, there are a variety of opinions:
The New York Times reflected on the differences between Bitcoin and Liberty Reserve, commenting that Bitcoin is not anonymous yet, but could be.
Contrary to conventional wisdom, Bitcoin is not anonymous. In fact, security experts say that if prosecutions like Liberty Reserve continue, the most likely targets are major payment systems like WebMoney and eForexGold, payment systems that security experts contend allow their users to move capital anywhere in the world without verifying their identities.
The Washington Post saw more similarities between Liberty Reserve and Bitcoin.
Of course, that description could just as easily describe Bitcoin. Anyone can create a new address for accepting bitcoins and then transmit funds to other Bitcoin addresses without furnishing identifying information. This feature has raised concerns that the currency has been used for activities such as drug dealing or illegal gambling.
Forbes saw a canary in the coal mine, asking is Bitcoin next.
Will prosecutors move on to shutting down Bitcoin (BTC)? After all the parallels between BTC and LR are strong — both are virtual currencies that use an exchange to convert legitimate currencies into electronic ones.
Patrick Murck, legal counsel for the Bitcoin Foundation, wants to avoid that comparison. As he told the Journal, “I think [the Liberty Reserve indictment] is just another giant, flashing warning light to bitcoin exchanges: If you’re not compliant, there are some serious risks, both at the federal and state levels.
Bloomberg was more optimistic, pointing out that Liberty Reserve’s demise is Bitcoin’s gain.
Bitcoin users should embrace the extra scrutiny and welcome the chance to ensure more security, making the currency less accommodating to criminals. Plus, as some Reddit commenters were quick to point out, the demise of Liberty Reserve will mean less competition for Bitcoin.
That’s the round up for the major press outlets. What do you think?
