This Week in Bitcoin 05/23/2016

This week in bitcoin people ate pizza to celebrate the anniversary of the the world’s first bitcoin purchase. On May 22nd, 2010 a man in Jacksonville, FL paid 10,000 bitcoins for 2 pizzas (40$ at that time.)

This week in bitcoin someone accidentally sent 38 bitcoin (approximately $17,000) instead of 38 dollars. The sender was buying items on Amazon.com (with dollars or credit) for someone who had paid him bitcoin for the items. Luckily for the sender, the recipient was a good samaritan and returned the funds. Many wallets support sending bitcoin in terms of dollars at the latest exchange rate, so this kind of mistake is likely to happen again. If you ever accidentally receive bitcoins make sure that you wait a few confirmations before returning it, to protect yourself from a potential double spend attack.

This week in bitcoin a powerful banker in Russia warned law makers that banning bitcoin would lead to regression of the nation. In the past few years Russian politicians flirted with criminalizing bitcoin. However, German Gre, the Chairman of the Board of Sberbank and former Economic Development Minister stated, “Blockchain — in my opinion, is a new web, the idea of ​​the same level as the Internet, and it has not yet been born.”

This week in bitcoin the price fell 4% to the $440’s. Over the same period the price of ethereum tokens rose 25% to $14 prompting fierce twitter debates on whether ethereum and bitcoin are rivals or teammates.

I wrote a simple article examining this topic but it was banned on the r/bitcoin for not being relevant. My lord I feel like such a rebel.

May 23, 2016