This week was rather steady in comparison with the previous one. Let’s have a quick look at the hottest events of the week.
Silk Road website founder Ross Ulbricht found guilty on all counts
On February 4, Ross Ulbricht, the Silk Road website founder and owner, was found guilty of all charges brought against him by the US government and now feces a life in prison. Ross Ulbricht was accused of several charges, including narcotics trafficking on the Internet, money laundering, computer hacking and attempting to have six people killed. Ross Ulbricht will be sentenced on May 2015.
To remind the whole story, the federal agents arrested Ulbricht in October 2013. He was accused as the mastermind of Silk Road, at that time operating with $1.2 billion. The Silk Road itself operated on the hidden Tor network and used Bitcoin as its currency bringing the cryptocurrency itself a damaged reputation. Later, in 2013 a Silk Road website was relaunched, called Silk Road 2.0 led by a new pseudonymous Dread Pirate Roberts. In 2014, FBI announced the arrest of Blake Benthall, allegedly the owner of Silk Road 2.0.
Facebook, Spotify, and Ryanair could accept Bitcoin from today following BitPay deal
Facebook, Spotify, and Airbnb may be able to accept Bitcoin, after Ayden, their payment processor, has partnered with BitPay.
Ayden, a giant Netherland-based payment processor Netherlands-based that handles $25 billion worth of transaction, has partnered with BitPay. Merchants using Ayden’s services will now be able to accept Bitcoin through a single preference check without any further change of their own site’s back-end.
It operates in over 180 currencies. This partnership resembles a deal struck between PayPal’s Braintree and Coinbase to facilitate Bitcoin merchant payment features.
A day later, ChainPay, another startup in the Isle of Man, launched a competitor payment processor in the European market.
The Raspberry Pi Foundation will the make a surprise release of the Raspberry Pi 2 Model B
It’s a turbocharged version of the Pi B+, boasting a new Broadcom BCM2836 900MHz quad-core system-on-chip with 1GB of RAM – all of which will drive performance “at least 6x” that of the B+.
At its heart, though, is the BCM2836 SoC, is similar to its predecessor – the BCM2835 – but with several cores.
Bitcoin Price Drops as Coinbase Euphoria Wanes
After the BIG news of Coinbase and following negative statements from the California Department of Business Oversight and the New York State Department of Financial Services (NYDFS) regarding Coinbase’s license the overall excitement in the Bitcoin community waned and the price started its fall.
This week, prices remained within an overall bear trend after an attempt to break a sloping resistance line extending all the way back to August. The Bitcoin price has fallen 6% over the last seven days, opening at $231.14 on 2nd February and closing at $224.00 on 8th February, according to the CoinDesk Bitcoin Price Index.
Breaking Down New York’s Latest BitLicense Revision
The New York State Department of Financial Services (NYDFS) sets a month comment period before regulation can be finalized. The revised draft included the total cost for the licensure that was estimated as 5000 USD, definitions of the virtual currency and exchange service and many important aspects and oversights for the functioning of the Bitcoin ecosystem, including the startups aiming to use Bitcoin while their operations.
The verdict of NYDFS can make a potential push via settling certain borders for making business. This will allow even more investors to enter the market in 2015 and can serve an example for other countries in the field of regulation.