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Bitcoin is trading lower today. At one point, BTC/USD was trading down 13 points from the $616 daily open. We are currently at $609 a piece on BTC-E and at $612 per coin on BitStamp. Prices didn’t quite manage to hit $600 today, trading just shy of the figure at $603.70. The second move lower later in the day also stopped short at $604.33. Going forward we expect further downside and another retest of $600. If the important round figure breaks, it may trigger a prolonged period of losses for bitcoin.
More trouble at the Bitcoin Foundation. Andreas Antonopoulos, a well known figure in the bitcoin community today resigned as a member of the Foundation:
”A couple of weeks ago, I resigned as head of the Bitcoin Foundation’s anti-poverty committee. Today I also resigned as a member” : the tweet reads. The tweet after that says that he can no longer have even the smallest association with the Bitcoin Foundation, because of what he says is a ”complete lack of transparency”. Andreas expounded that he is not happy with the current management of the Bitcoin Foundation and asked not to use his resignation to push other agendas: ”No further comment, drama or dirt. Just not happy with BF mgt. Please stop trying to use this to push other agendas.”
The Bitcoin Foundation is an industry wide lobbying organization that is also responsible for paying bitcoin developers. In the past year alone, the Foundation has found itself the target of several controversies. The former vice-chairman Charlie Shrem faces federal money laundering charges. Mark Karpeles, the CEO of now defunct MtGox exchange was one of founding members. Recently the Foundation received criticism when it appointed Brock Pierce to the board.
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July 10, 2014 at 11:33AM
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