Bitcoin Weekly Recap 3-18-2016

Bitcoin Weekly Recap 3-18-2016


21 Inc Announces Proof-of-Concept for Ping21 Grid

As part of its ongoing effort to create a Bitcoin computer-based free market, 21 Inc. this week announced the launch of a new proof-of concept it has dubbed Ping21. The company envisions the new service as a potential competitor to Pingdom and similar site performance monitoring services that website owners currently use to assess their sites’ uptime status in varying locales.

The Ping21 system leverages the Bitcoin computer network and provides users with the ability to ping all of those computers with one command. That would allow webmasters to assess their site’s status at a significantly lower cost than the current monthly subscription-based services commonly used today.

Along with this announcement, 21 Inc also noted that it will be providing news about additional proof-of-concept launches in the near future.

Indian Exchange Coinsecure to Make Wallets More User-Friendly

Coinsecure announced this week that it is working with Netki to implement an option that will allow its customers to personalize their Bitcoin wallet names. The Indian Bitcoin exchange is undertaking the move in an attempt to appeal to users who struggle with the current cryptographic naming convention.

In an interview with Coin Telegraph, the company’s Global Business Development Head, Elizabeth McCauley, explained that the new naming process will permit users to use any identifier they choose, provided that the name has not already been taken. She also noted that the current expectation is that this option will be provided at no extra charge to consumers.

Microsoft Reverses Course with Apology: Bitcoin Still Acceptable Payment Option

After first posting a FAQ that declared that Bitcoin would no longer be accepted from users seeking to purchase content, the Microsoft reversed course and issued an apology. The company insists that users who want to use the digital currency at its Xbox and Windows stores will still be able to do so.

The original post discontinuing Bitcoin use has since been deleted, and the software giant now says that the notification was a mistake: “We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected.” While the incident is peculiar, Bitcoin users can take comfort in knowing that they can still use the cryptocurrency to purchase their software, games, music, and apps.

Bitstamp: Chrome Extension Could Steal Your Bitcoin

In a tweet this past week, Bitstamp notified the Bitcoin world that it had identified a QR code-replacing Chrome extension that could be used to hijack Bitcoin wallets and steal user’s currency. That extension, BitcoinWisdom Ads Remover, apparently contains source code designed to change QR code images and replace them with the thief’s own Bitcoin exchange addresses.

Reports indicate that the scam was discovered early enough to prevent any serious theft, and thus far only three small transactions had been executed. That has led some to conclude that the thief was either in the early stages of testing the scam, or was simply acting on a grievance against certain sites. That latter conclusion is supported by the fact that the extension was apparently very selective in which addresses it replaced – targeting only those associated with a select number of sites. Creates Hybrid ATM

According to recent reports, a new hybrid ATM has been developed by and is currently in use at Hero City in San Mateo, California. The current model in use at that site is a one-way ATM that allows

USAA Integrates Coinbase into its Website Platform

USAA has recently announced that it will integrate Coinbase into its website offerings, providing its members with the ability to view their Coinbase account information without leaving the site. The decision was made after a trial program in November proved successful.

According to the company’s lead investment associate, Jon Cholak, the move is in keeping with the company’s ongoing commitment to staying abreast of technological changes. He also noted that USAA’s membership includes many active digital currency users.

USAA offers a variety of financial services to active duty military personnel in the United States, veterans, and the families of American servicemen – services that include everything from banking, investment, and retirement offerings to home, health, auto, and life insurance. The company was one of several investors in Coinbase’s early 2015 Series C funding roung.

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Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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