Bitcoin Picks: As the Cryptocurrency Grows in Popularity, So Does the Gleam of Opportunists

A recap of the most interesting stories throughout the week as seen by the editors in charge of Forex Magnates’

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This week’s Bitcoin picks include a new rival for ApplePay, Bitfinex interconnecting on several fronts, more public awareness in the UK and a binary options provider begins accepting deposits in Bitcoins and multi-million dollar scam.

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On the technical front, Bitcoin (BTC/USD) broke above $338 and closed the week at $341. The tough target remains $350.


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According to a national newspaper, the UK government is turning to the public for their views on Bitcoin and potential regulation in the future. In addition to consulting with financial regulators, law enforcement personnel and the general public, the Treasury is reaching out to FinTech companies, including those in the Bitcoin space.

Anyone with an interest in digital currency is invited, including: “Digital currency developers, digital currency exchanges, digital currency users, investors, academics, think-tanks, other government departments, international counterparts, banks, building societies and other payment service providers, payment scheme companies and e-money providers.”


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OneTwoTrade, the binary options broker, has announced the addition of Bitcoin and Litecoin as acceptable deposit methods for customers. In a statement, the company said that it was committed to providing clients with more flexibility in how they could perform transactions as being the first major broker to do so.

The company expects crypto-currencies to grow in popularity, and therefore expects a steady rise in transaction volume conducted on its platform.

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BitPay has unveiled its answer to the recently launched Apple Pay at Money 20/20 in Las Vegas: “Bitcoin Checkout”.

Like Apple Pay, it also uses near field communication (NFC) technology to make secure payments. Unlike Apple Pay, however, credit cards are no longer in the equation. The solution takes the form of a one-tap mobile point-of-sale (POS) app for merchants.


BTC.sxnumber-4 has partnered with Bitfinex to bring the exchange’s order book data to its trading platform, giving traders a third choice of venue for betting on Bitcoin prices. Two weeks ago, BTC.sx added itBit.

In a separate move, Bitfinex has partnered with AlphaPoint, a white label bitcoin exchange technology provider, to enhance performance and scale for future growth. AlphaPoint made the announcement at the Money 20/20 conference in Las Vegas on Monday, November 3rd.

The move is designed for Bitfinex to focus more on business strategy and worry less about keeping its technology up-to-date.


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Trendon Shavers, operating under the alias “pirateat40”, has been charged by US District Court for operating a Bitcoin-related Ponzi scheme, misappropriating approximately $4.5 million worth of Bitcoin.

Bitcoin Savings and Trust, along with Mr. Shavers, have been accused of illegally appropriating roughly 146,000 out of 764,000 Bitcoins (estimated at $4.5 million) raised by his operation between September 2011-12.


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