Bitcoin Weekly Recap 5-13-2016

Bitcoin Weekly Recap 5-13-2016


MtGox Bitcoin Addresses Will Not Be Made Public

In a press release this week, the trustee assigned to the MtGox bankruptcy proceedings made it clear that he no longer intends to make public any of the Bitcoin addresses currently believed to be under the control of the failed Japanese exchange. In making that decision, Trustee Nobuaki Kobayashi noted that new privacy and safety risks had been identified recently, and that he was relying to some degree on advice received from Bitcoin community members.

At the present time, much of the investigation is focused on efforts at recovering funds lost by the exchange’s customers. This latest decision was reportedly made with those recovery efforts in mind. The release also noted that the end results of the current investigation will be made available for public inspection at some time in the future.

BitBank Group Launches Funding Effort for Bitcoin Mining Facility

Bitbank Group recently launched a successful crowdfunding effort to raise $1.57 million in capital to finance construction of a new Bitcoin mining facility that the company plans to develop in Xinjiang. Bitbank, a digital currency hardware maker and software designer, held the crowdfunding event mid-week for a limited-time, 24-hour period. The target goal was 3500 BTC, and interested financiers were offered a 6.9% rate of interest. According to the company, their new facility has been designed to use 12nm miners, and should generate Bitcoin mining power in the realm of 30 petahash.

Malaria-Focused Charity to Accept Donations in Bitcoin

Bitcoin users interested in contributing to the fight against malaria will be thrilled to learn that the charitable organization Against Malaria now accepts Bitcoin donations – though the option is limited only to a couple of countries at the present time. Against Malaria plays an important role in combatting one of the world’s most dreaded diseases, and the move to accept the world’s most well-known cryptocurrency provides just one more way for the charity to receive the funding it so desperately needs to continue its good works.

According to GiveWell, which evaluates various charities to see just how efficient they are at translating donated money into actual benefits for human beings, the Against Malaria Foundation appears to be the single most effective agent for positive change on the planet – at least in terms of saving human lives. The group’s work in purchasing and providing effective mosquito netting for at-risk populations has been instrumental in the fight against malaria. And now donors have an even simpler way to contribute to this worthy cause.

TechBureau Raises $6.2 Million in Series A Funding

Japan-based blockchain firm and Bitcoin exchange operator TechBureau Inc this week announced that it has successfully concluded its Series A funding round, raising a total of $6.2 million in capital. A variety of venture capital firms, finance companies, and IT outfits participated in the funding round, and those investors are expected to partner with TechBureau to develop a number of Bitcoin and blockchain projects in the coming months.

New Brave Browser Offers New Browsing Options... and Controversy

If you have heard anything at all about the new Brave browser, then chances are that you are at least marginally aware of how this new internet solution is trying to deal with internet content, the need for content creators to receive remuneration, and Bitcoin. For most internet users, the online environment is one that is filled with unwelcome and often intrusive advertisements. The Brave browser attempts to create a less burdensome experience for internet users by enabling users to directly fund the creators they want, thus ensuring that they continue to create the content viewers want to see.

The project has drawn criticism from various media giants, of course. The Brave browser is designed with an internal ad blocker for users who want an experience in which no ads show up on their screen. While that is not really controversial, Brave’s decision to provide users with an option to see Brave’s paid ads rather than those content publishers rely on for their revenue. That plan has led some publishers to claim that the new browser is essentially stealing their content and placing their own ads on it to generate revenue.

Controversy aside, Bitcoin users will be interested in the innovative revenue-sharing model that the company has developed – and particularly the decision to use Bitcoin as its currency. In the plan, viewers who opt in to see ads get paid a small amount for each viewing, paid in Bitcoin. Users who receive Bitcoin in this way are free to keep it for themselves, or donate some to content creators as an incentive for them to develop more content.

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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