Bitcoin News

Declan McCullagh (@DeclanM), writer for CNET, covers the reveal of a new Bitcoin ATM/vending system at this past weekend’s Liberty Forum event in New Hampshire.  Excerpts:

“[This ATM is] the opposite of a traditional automated teller that dispenses currency. Instead, these Bitcoin ATMs will accept dollar bills — using the same validation mechanism as vending machines — and instantly convert the amount to Bitcoins and deposit the result in your account.”
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“To obtain Bitcoins, people use an iPhone app like Blockchain or Android’s BitcoinSpinner to show the ATM a QR code with their desired address for payments. After they insert a dollar bill (denominations up to $100 are accepted), the ATM automatically credits their Bitcoin account with the proceeds. There’s a 1 percent transaction fee.”
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“‘Even people who have been in the Bitcoin world for a while and have used every type of exchange are blown away by the simplicity of this machine,’ Harvey says. ‘I am just putting in a dollar. Before they really know what’s going on, their phone tells them, ‘You have Bitcoin.””

 - http://cnet.co/YNxrmU
 - http://bitcointalk.org/index.php?topic=146397.0 (Further discussion of the device)

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CNET writer Stevem Musil (@StevenMusil) writes on BitFloor’s security breach.  Excerpts:

“Nearly a quarter million dollars worth of the peer-to-peer currency was stolen by accessing unencrypted backup wallet keys.”
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“The heist occurred last night when an attacker accessed an unencrypted backup of wallet keys and made off with 24,000 BTC, leading Bitfloor founder Roman Shtylman to suspend the exchange operations.”
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“Shtylman said he is evaluating options for the exchange but that he was trying to avoid causing more panic in the Bitcoin community.”

[The article describes withdrawals as being made however BitFloor is first receiving legal counsel on the matter. - Editor]

- http://cnet.co/RDL6vM
- http://bitcointalk.org/index.php?topic=105921.0 (Further discussion of the article)
- http://tnw.co/ORI1UM (Related article on TheNextWeb)

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