Bitcoin news for the week of 10/31/16

Welcome to our weekly recap of the latest headlines in bitcoin and fintech. October 31st: trick or treaters, costumes, candy… and Satoshi? That’s right, this October 31st marked the 8th anniversary of Satoshi’s bitcoin whitepaper release. Was it purposefully released on that date? Speaking of purpose, Giving Tuesday is later this month and Bitcoin.com has announced some generous plans. Plus it’s been another week where the price of bitcoin has been the talk of the town. Read about this and more below!

Bitcoin Halloween

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Is it a trick or a treat?

Was the Bitcoin White Paper Intentionally Published on Halloween?

While January 3, 2009 is celebrated as the date of the first bitcoin transaction, it’s a lesser known fact that Satoshi Nakamoto released the bitcoin whitepaper on October 31st, 2008. Whether the date was intentionally chosen or not, we’ll probably never know.

Between splurging on candy and horror movies, we learned about a new trend where people are giving away cold hard cash on Halloween to trick or treaters instead of candy. The trend has us curious if bitcoin will catch on in similar ways.

Sometimes you have to give and take

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Picture of the Ronald McDonald House courtesy of Bitcoin.com

Ronald McDonald House to Receive Donations From Bitcoin.com Store

In celebration of Giving Tuesday, an annual charitable event to encourage giving during the holiday season, the Bitcoin.com Store will be donating 10% of their apparel sales from November 1st to the 24th to the Ronald McDonald House of the Capital Area Region in Albany, New York.

The Ronald McDonald House Charities is a nonprofit organization sponsored by McDonald’s corporation which has a focus on helping families in need. Food for thought, McDonald’s is also a participating vendor in the Snapcard rewards program, where users can buy food using bitcoin.

Bitcoin price continues to soar

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markets.blockchain.info

Bitcoin Prices: Why Traders Are Going Crazy Over Bitcoin

As we highlighted last week, the bitcoin prices are leaping to new highs, with this week being no exception. The price at the peak was $741 USD according to Blockchain Markets, before settling down to around $700 USD.

ProfitConfidential.com attributes the spike to Chinese interest and technological advancements, such as the release of Segregated Witness. CoinTelegraph has also reported that trading on LocalBitcoins has reached an all time high with the “busiest week ever.”

Along with the growing interest from China, other countries with deteriorating economies, like Venezuela, are also seeing the appeal of bitcoin to fight against inflation and as a safer alternative to carrying cash.

Credit: Naked Capitalism

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