Weekly Recap: Litecoin Ride Gets Violent, BitFury 3-peats $20 Million

The cryptocurrency world saw more activity than during the week prior, but the movement in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and litecoin prices continued to grab headlines.

Startups gave their thumbs up to California's proposed virtual currency regulations, which were recently amended in a favorable manner for the industry. The draft bill, approved last month, does not impose additional virtual-currency specific rules, rather the rough equivalent of money services business licensing.

The island of Jersey got the ball rolling on Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, launching a public consultation for input.

Investors showed their faith in the mining industry, pouring in another $20 million into BitFury, its third round this amount. Mobile bitcoin wallet startup Airbitz reportedly secured $450,000 from venture capital firm Block26.

A large spam attack on the Bitcoin network created a backlog of unconfirmed transactions, and the effects are still being felt.

Bitcoin prices increased despite technical glitches and concerns over scalability, likely in part due to the continued uncertainty in the Greece crisis. Bitcoin closed the week at $292, rising by 14.5%- its best week in months.

Litecoin finished the week higher by only 6.3%, giving up almost all of its gains after more than doubling to $8.63. Trading turned violent when it reversed sharply lower, giving up 58% in roughly 24 hours. The drop may have represented the pin that pricked litecoin's bubble, which had grown exceedingly inflated and raised suspicions of price manipulation.