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CoinJar Launches Touch app for iPhone




The globally renowned Bitcoin platform in Australia, CoinJar has always been innovative when it comes to solutions for its customers. Now the company says that it is bringing up Touch app for iPhone which according to it provides a completely new way to send digital currency, across the room or around the globe, from the user’s pocket.

According to the company the new CoinJar Touch app for iOS lets users manage their Bitcoin accounts on the go. It is available for the customers now to help them buy and sell Bitcoin from their phone, or transferring Bitcoin to others via peer-to-peer payments. Nonetheless, with the latest app, the company aims to further expand its reach.

Talking to media professionals CoinJar CEO Asher Tan said that the new app, combined with low-fee transactions made possible by the Bitcoin network, makes it easier than ever for users to send money to friends. Whether next door or halfway across the globe they can transact without ever using a bank, completely revolutionizing the global remittances industry.

According to CoinJar with CoinJar Touch for iPhone, users can transfer their Bitcoin to their friends and businesses easier than before. They can use their CoinJar username, Bitcoin addresses or scanned QR codes for the purpose. Nonetheless, since the website launch, nearly one in five CoinJar users has already adopted a username.

Now, with CoinJar Touch for iPhone transferring of Bitcoin has become easy as users can transfer their Bitcoin to their friends and businesses easier than before. Asher Tan admits that mobile penetration is growing faster than desktop computing, especially in developing economies so ensuring that payments are easy and simple.

Deepening Penetration of Bitcoin

This according to him will help Bitcoin receive new users and become mainstream later on. He says that with CoinJar Touch, his company has humanized payments, making it easier than anything else out there, even traditional banking apps, to transfer money between friends, acquaintances, and business, quickly and easily.

Nonetheless, Asher Tan says that just like everything else CoinJar builds; CoinJar Touch is tailored to international markets. Being one of Australia’s first Bitcoin companies, with more than 40,000 users and processed more than $50 million in transactions over the past 12 months, CoinJar is a force to reckon with. .

Asher Tan concludes that as mobile penetration is growing faster than desktop computing, especially in developing economies so ensuring that payments are easy and simple to do on the go is a vital part of ensuring mainstream Bitcoin adoption.

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Vogogo Partners With eMerchantPay, to Help Clients Accept Credit and Debit Card Transactions

In a press release, payment processing and fraud mitigation specialist Vogogo Inc. says that it finalized a strategic partnership with the acquiring division of UK based eMerchantPay Limited – E-comprocessing (“ECP”). According to the firm it will enables Vogogo to offer their European based cryptocurrency merchants the ability to accept credit and debit cards from customers.

Nonetheless, with the latest move, Vogogo is setting their sights on the European Bitcoin market and all the untapped merchants it has to offer. Talking to media professionals about the decision Vogogo CEO Geoff Gordon said that the company is quite happy to make the announcement of their European expansion.

According to Geoff Gordon the company is very pleased to make this announcement. He admits that the focus for this year is all about growth and expanding the service offering to target markets. Nonetheless, he believes that opening the European market is a significant step towards reaching our business goals.

As the company says that by setting up a strategic business partnership with eMerchantPay, cryptocurrency merchants based in Europe can accept credit and debit card transactions from any customer in the world, as long as they utilize Vogogo and eMerchantPay, it is trying to expand the reach of the digital currencies.

Moreover as the integration between eMerchantPay and Vogogo is well advanced, with Vogogo expecting a beta launch of their card processing later this month, the bright prospect of the digital currencies cannot be doubted. The two companies showed their happiness about the partnership as according to them it will further help them make the presence felt.

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As MyCoin Goes Bust, the Customers Worry Losing their Investments



The South China Morning Post report that as MyCoin, a Hong Kong-based Bitcoin trading company, has shut down its operations, nearly 3,000 local investors may have lost combined value of more than HK$3 billion. Out of these, close to thirty concerned customers approached to the lawmaker Leung Yiu-chung and informed him about the losses.

The sudden collapse of the company has bothered a lot of investors and market observers. This was the same company that staged events at luxury hotels, including a road-show in Macau in August last year. The local police inform that the affected customers are going to report that deception was involved in a pyramid-style Ponzi scheme packaged as Bitcoin trading.

The report from the South China Morning Post indicates that the HK$3 billion figure is based on an earlier statement by the company that it had 3,000 clients in Hong Kong, each investing an average HK$1 million. Some customers have though come up with their complaints regarding the losses incurred while trading with MyCoin, they don’t see anyone behind this.

One user says that this is quite difficult to establish how much he lost because was not given written document or receipt as proof, apart from a trading account on the company’s trading platform. Also, they accuse that they were lured by promises of a HK$1 million return in four months for buying a HK$400,000 Bitcoin contract which would produce 90 Bitcoin on maturity.

Loss of Valuable Investments

Nonetheless, some unrealistic offers too came from the company; one such offer was that extra profits and prizes such as a Mercedes car or cash prizes would be paid if an investor found more new clients. Also, they were talked into buying contracts by real estate agents, law firm clerks or insurance agents.

One customer who lost his valuable investment says that he did not give any approval but the law firm clerk opened an account in his name after receiving a cheque from family members. There are several other allegations as well; one of them says that MyCoin did not pay according to the full Bitcoin price worth HK$20 per unit.

Though some notice was issued by the company, the affected customers admit that they were a bit worried that police will refuse to handle the cases because there were no written records. Nonetheless, the value of Bitcoin has plummeted from its historical high of US$1,124 in November 2013 to as low as US$181.45 last month.


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According to the South China Morning Post, Hong Kong’s central bank has warned people against investing in virtual currencies like Bitcoin. The decision came after the bank across with local media reports that a Bitcoin exchange may have run off with $387 million in client funds. This is expected to be one of the biggest Bitcoin scandal.

The authorities say that if it comes true the Bitcoin scandal is similar to the one that happened with Mt. Gox, a Japanese Bitcoin exchange that collapsed later on. The South China Morning Post says the reports regarding the scandal came in on Monday wherein clients of Hong Kong-based MyCoin approached a local lawmaker alleging the company absconded with Bitcoin.

Reuters, the news agency reports that an assistant for Legislative Council member Leung Yiu-chung told it that he had received more than 15 complaints from MyCoin clients regarding the alleged fraud, and these would be passed on to the police later on. Bitcoin hacking is not new, several incidence indicate that these are becoming quite frequent these days.

In a statement the Hong Kong Monetary Authority or HKMA said that the case may involve fraud or pyramid schemes. It says that given the highly speculative nature of Bitcoin, it has all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin.

Safe and Secure Storage Using Cold Bitcoin Storage

Nonetheless, Bitcoin that are created through a ‘mining’ process where a computer’s resources are used to perform millions of calculations, are often at risk when stored in a Bitcoin wallet. There is cold storage for Bitcoin which are being considered safe as these are detached and accessed offline by the users.

In one of the biggest Bitcoin scandal, Mt. Gox, once the world’s largest Bitcoin exchange in 2014 lost around $500 million worth of customer Bitcoin in a hacking attack. Once all its Bitcoin were stolen the organization filed for bankruptcy later on. Thereafter several other instances also happened when the investors lost their digital currency stored.

In a similar incidence MyCoin which claims to be a leading global Bitcoin trading platform and application service provider with a China-based research and development team, has lost $387 million. The company has though promised clients a HK$1 million (£84,610) return over a 4-month period based on a HK$400,000 investment that would produce 90 Bitcoin on maturity.

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Bitcoin News Mash-Up: Wrong Scam Info; Play Store Ditches MyCelium; and More

Following are the major Bitcoin news of the day

MyCoin Customers Lost $US8 Million, Not $US387 Million

The Hong Kong Commercial Crime Bureau is conducting a preliminary investigation into alleged illegal activities that took place in the demised Bitcoin investment firm MyCoin. As a result of the investigations, it was found the customers actually lost around $US8 million, against what local media reported on Monday. However, the whopping figure — $USD387 million — was actually MyCoin’s turnover. You can read the whole report here.

MyCelium Removed From Google Play Store

Bitcoin wallet service Mycelium was removed from the store Google Play due to alleged violation of policy content. Jan Dreske, Mycelium developer, said his team could find no direct violation of Google’s terms of service. That’s why Mycelium file a complaint with Google, because it believes that the application was withdrawn Store for error. You can read the whole report here.

Coinbase Expands its Bitcoin Trading Services to Five More Countries

Popular Bitcoin amenity company Coinbase recently announced to expand its Bitcoin buying/selling services to five more countries. The company stated in its blog that it is adding Bitcoin buy/sell function to Czech Republic, Hungary, Bulgaria, Norway and Croatia. Users from these countries can now link their bank account through the SEPA, and buy and/or sell bitcoins in exchange for euros. This function is now available in 24 countries around the world.


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Lt. Gov. Gavin Newsom, the Governor Contestant Accepting Bitcoin in Donations

Lt. Gov. Gavin Newsom announced on Wednesday that he is creating a committee to run for governor of California in 2018; however, the bigger news for Bitcoin ecosystem is that he is going to accept Bitcoin donations from his supporters. This is part of his strategy to show himself as tech-savvy guy who is not averse to the latest technology.

Talking to media professionals he said that he has never been a fan of pretense or procrastination and according to him his state is defined by its independent, outspoken spirit. He admits that when Californians see something they truly believe in, they say so and act accordingly – without evasiveness or equivocation.

We have been reporting about the politicians in the US embracing Bitcoin. For instance, earlier it reported Jared Polis was accepting Bitcoin donations. Similarly, there were reports on the Libertarian Party of Canada accepting Bitcoin donations. Thus, it is not entirely new for Lt. Gov. Gavin Newsom, yet it is a bold step towards a technological innovation.

Nonetheless, the “Gavin for Governor” has invited supporters to donate via Bitcoin, a digital currency that is catching attention around the world. Currently, Newsom has about $3 million left from his successful 2014 re-election campaign for lieutenant governor; however, there is always requirement for more money to be spent on campaigns.

Newsom is not new to Bitcoin though because when he ran for re-election for lieutenant governor in 2014, news reports cited him as one of the nation’s first high-profile politicians to accept Bitcoin donations. He was swayed by people like top Silicon Valley venture capitalist Marc Andreessen, an investor who has put more than $50 million in Bitcoin-related startups.

Several American Politicians Accept Bitcoin Donations

Thus, Newsom is not alone who is accepting Bitcoin donations. Some other Democrats like Oakland mayoral candidate Bryan Parker and Colorado Rep. Jared Polis, and Republicans like Texas attorney general and gubernatorial candidate Greg Abbott, are other people who accept Bitcoin donations as it is easier for donors to pay in the digital currency.

Bitcoin donation is legal; it has even been settled by the Federal Election Commission (FEC) which in May approved an advisory opinion allowing Bitcoin contributions. Nonetheless, as the FEC decided that the organization could accept contributions of Bitcoin as proposed, it is subject to valuation and reporting procedures detailed in the opinion.

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The MIT to Hold Bitcoin Expo on 7th and 8th March



In an announcement the Massachusetts Institute of Technology (MIT) says that it is all set to hold its second industry event in March.

The two day event will be held on 7th and 8th March where a large number of celebrated Bitcoin experts, entrepreneurs and speakers are going to put their views for the attendees.

Nonetheless, as the MIT Bitcoin Expo will be featuring a number of notable speakers from the digital currency ecosystem, a large number of interested parties are expected to arrive in. The institute has been organizing the event quite successfully. This one has come in less than a year after the first conference took place in May of 2014.

The organizers of Bitcoin Expo claim that the event will include speakers such as Bitcoin Foundation chief scientist Gavin Andresen, Chain founder Adam Ludwin and Blockstream co-founder Matt Corallo, Circle Internet Financial founder and CEO Jeremy Allaire, etc. among others. These people have carved a niche for their services and role in Bitcoin industry.

Talking to media professionals Jinglan Wang, president of the Wellesley Bitcoin Club and the director of the MIT Bitcoin Expo, informed that compared to last year’s more introductory conference, the 2015 gathering is aimed at facilitating more in-depth conversation between local developers and the broader Bitcoin industry.

He said that students are finding existing services to use their Bitcoin on, as well as creating their own. Also, according to him ordering food online via Foodler using Bitcoin was something he had heard about from a student outside of the club, after the airdrop. He is extremely impressed the way Bitcoin is becoming popular among users.

Bitcoin is Reaching to New People and Becoming Extremely Popular

Jinglan Wang admitted that they are hoping that this year’s event will be more academic. According to him they have got students who have Bitcoin and want to build. He says that this is their chance to learn from speakers and other attendees to figure out what to build, how to build it and maybe even find people to build with.

The full list of planned speakers can be found visiting their official website. The organizers of the Bitcoin Expo admit that MIT and the surrounding Boston area is home to a growing Bitcoin ecosystem, one propelled forward by the distribution of $100 in Bitcoin to undergraduates beginning in October.

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Backdrop: Silver has been bullish at the turn of the year after falling for most of the second half of 2014. In 2015, it rallied to 18.47 before retreating as we can see in the 4H chart below:

Silver (XAG/USD) 4H Chart 2/15



Wedge Breakout: We can argue that the structure of this bearish correction/consolidation was a falling wedge. Price did break below the 200-, 100-, and 50-period SMAs and the 4H RSI did dip below 30, all signs of bearish development. However, as we ended the week, price rallied above the falling wedge resistance, and is now threatening to return back above the all of the noted SMAs. The 4H RSI has broken above 60, which shows loss of the prevailing bearish*momentum.
Resistance: Silver looks ready to shine again, and continue its recent bullish mode. The first challenge will be in the*17.60-70 area, especially if the 4H RSI reaches 70. Then, let’s see what kind of reaction follows. If price is able to hold above 17 or so, the bullish outlook should remain in play with pressure to break the 17.70 resistance and push to the 18.45-50 highs.

Silver (XAG/USD) Daily Chart 2/15



Strong Evidence of Bullish Continuation:
The daily chart has a more convincing picture for the bullish continuation outlook. Note that price action*has been projecting*a rising channel since marking*the 2014-low at 14.65. The rising channel support held again.
Furthermore, price held above the 100-, and 50-day SMA after crossing over them – a bullish slingshot signal. Momentum-wise, the RSI has tagged 70, and is now holding above 40, which reflects development of the bullish momentum.
Indeed, the daily chart puts the 18.45-50 area in sight. A break above this area, puts silver into another phase of this bullish “trend” because*price would be above the 200-day SMA, showing another “win” by silver-bulls. At that point, 20 would be a reasonable target.


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The Commonwealth Secretariat Exploring the Scope of Bitcoin and Other Digital Currencies



The Commonwealth Secretariat says that it is exploring the potential of virtual currencies including of Bitcoin and for that international experts and representatives of Commonwealth governments will meet soon. They will explore issues around the rapid development of virtual currencies, and identify potential benefits they could offer to developing countries.

In the press release, the Commonwealth Secretariat informs that virtual currencies are digital representations of value that can be traded and exchanged between online communities. According to the organization at present, there are no internationally agreed standards or rules that apply to these currencies.

Nonetheless, the organization is quite clear about its understanding of the digital currencies when it says that whilst offering potential for countries where banking and transaction costs are unaffordable, they have also been associated with criminal activities such as money laundering and financing of terrorism.

According to the press release the two-day Virtual Currencies Round Table from 17-18 February 2015 is gathering a wide range of expertise from Interpol, Europol, IMF, the United Nations Office on Drugs and Crime, and high-level Commonwealth government representatives. It is part of the Commonwealth’s flagship Commonwealth Cybercrime Initiative.

The two-day hearing is aimed to identify how the nascent technology might benefit consumers in the developing world. Nonetheless, called the ‘Virtual Currency Round Table’, the two-day event will feature representatives from Europol, the International Monetary Fund (IMF), Interpol and the United Nations Office on Drugs and Crime.

Talking to media professionals deputy secretary general of the Commonwealth Secretariat Josephine Ojiambo indicated that the intent of the meeting is to highlight the benefits of Bitcoin and other digital currencies, while also noting the risks involved. He added that this meeting will help member countries guard against risks.

The Attendees to Explore Bitcoin

He also cleared that the attendees will talk and identify ways virtual currencies can contribute to future social and economic development and according to him at the end of the two-day event; the Commonwealth Secretariat will issue recommendations that would inform a “next phase” of research in the area.

This is first of sort event being organized by intergovernmental organization that includes 53 states in Africa, Asia the Caribbean, Europe and the Pacific, including such notable markets as New Zealand, India and South Africa. Ojiambo admits that while Bitcoin does post risks, the meeting is meant to focus on both the positive and negative attributes of the technology.

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Telegram Launches Bitcoin Wallet ‘Telebit’ for its 50 Million Users

In an announcement, instant messaging app Telegram says that it is introducing its 50 million users to Bitcoin with the integration of its new Bitcoin wallet which it calls, ‘Telebit.’ The company came in news when it offered $200,000 to the hacker who can break Telegram. The latest announcement is going to relieve the users who worry about Bitcoin security.

Nonetheless, Telegram, a messaging app with a focus on speed and security, is not just super fast but simple and free as well. There are lots of similarities in Telegram’s messaging service and Whatspp, an app sold to Facebook for $19 billion in 2014. The subscribers can use Telegram on all devices at the same time wherein their messages sync seamlessly.

All subscribers using smart phones, tablets or computers can access Telegram and send messages, photos, videos and files of any type (doc, zip, mp3, etc), as well as create groups for up to 200 people. Nonetheless, the users can also write to their phone contacts and find people by their usernames.

Apart from providing features similar to Whatspp, Telegram also enables users to send SMS and email combined; thus, it can take care of all personal or business messaging needs of the users. Nonetheless, as the app offers better security and privacy than other messaging apps, it is emerging as a prime choice among the users.

The company says that as the app features an open API and protocol and focuses on privacy and security, Telegram and Bitcoin make a perfect pair. With the launch of Telebit which allows Bitcoin to be exchanged through external Bitcoin addresses as well as with other Telegram users, the company claims to grab some space in the Bitcoin wallet market.

Users to Get gift of 0.00025 Bitcoin

Jonathan Harrison and Eric Goforth are the two persons who created Telebit. The users can get the Bitcoin wallet by sending the message “wallet” to Telebit which will then send them a Bitcoin address as well as a gift of 0.00025 Bitcoin. Whereas deposits can be sent directly to the user’s wallet and he can send other Telegram users his Bitcoin by sending a text message through Telebit.
The company informs that Telebit Bitcoin wallets are stored on the cloud just like other online wallets. Interestingly, it says that users should not store large quantities of Bitcoin in their Telebit for security reasons. This might irk the users as this is the same company that offered $200,000 to the hacker who can break Telegram and feels proud of its security.

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